Emerald Advisers Inc. PA increased its stake in shares of Citigroup Inc. (NYSE:C) by 31.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,754 shares of the financial services provider’s stock after buying an additional 1,603 shares during the quarter. Emerald Advisers Inc. PA’s holdings in Citigroup were worth $491,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. Catamount Wealth Management acquired a new stake in Citigroup during the second quarter worth $100,000. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in Citigroup by 206.0% during the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,530 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 1,030 shares during the last quarter. Balentine LLC increased its stake in Citigroup by 20.2% during the second quarter. Balentine LLC now owns 1,617 shares of the financial services provider’s stock worth $108,000 after acquiring an additional 272 shares during the last quarter. Acrospire Investment Management LLC increased its stake in Citigroup by 21.4% during the second quarter. Acrospire Investment Management LLC now owns 1,700 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 300 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. acquired a new stake in Citigroup during the second quarter worth $123,000. Hedge funds and other institutional investors own 78.59% of the company’s stock.
Several research firms have issued reports on C. Keefe, Bruyette & Woods raised their target price on Citigroup from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Thursday. Credit Suisse Group reissued a “buy” rating and set a $83.00 target price on shares of Citigroup in a research note on Tuesday, December 12th. Nomura raised their target price on Citigroup to $84.00 and gave the stock a “buy” rating in a research note on Monday, December 11th. Vetr raised Citigroup from a “hold” rating to a “buy” rating and set a $80.92 target price for the company in a research note on Monday, December 4th. Finally, Raymond James Financial began coverage on Citigroup in a research note on Tuesday, October 31st. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $76.54.
Citigroup (NYSE:C) last issued its quarterly earnings data on Thursday, October 12th. The financial services provider reported $1.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.10. Citigroup had a return on equity of 7.48% and a net margin of 18.11%. The business had revenue of $18.17 billion during the quarter, compared to analysts’ expectations of $17.87 billion. During the same period in the previous year, the firm posted $1.24 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. sell-side analysts predict that Citigroup Inc. will post 5.3 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Monday, November 6th were paid a $0.32 dividend. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.71%. Citigroup’s payout ratio is presently 24.66%.
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Citigroup Company Profile
Citigroup Inc (Citi) is a financial services holding company. The Company’s whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.
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