Fishman Jay A Ltd. MI bought a new position in shares of Citigroup Inc (NYSE:C) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,450 shares of the financial services provider’s stock, valued at approximately $376,000.
Several other institutional investors and hedge funds have also made changes to their positions in C. Invesco Ltd. increased its stake in shares of Citigroup by 27.8% during the 2nd quarter. Invesco Ltd. now owns 48,104,326 shares of the financial services provider’s stock worth $3,368,746,000 after purchasing an additional 10,457,813 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Citigroup by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 36,542,950 shares of the financial services provider’s stock worth $2,559,105,000 after purchasing an additional 122,127 shares in the last quarter. Nuveen Asset Management LLC increased its stake in shares of Citigroup by 1,638.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 23,014,050 shares of the financial services provider’s stock worth $1,611,674,000 after purchasing an additional 21,690,409 shares in the last quarter. Morgan Stanley increased its stake in shares of Citigroup by 3.4% during the 2nd quarter. Morgan Stanley now owns 12,856,381 shares of the financial services provider’s stock worth $900,333,000 after purchasing an additional 427,951 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Citigroup by 0.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 11,309,671 shares of the financial services provider’s stock worth $792,017,000 after acquiring an additional 88,835 shares during the last quarter. Institutional investors and hedge funds own 76.63% of the company’s stock.
A number of analysts recently issued reports on the stock. BMO Capital Markets lowered shares of Citigroup to a “hold” rating in a research report on Friday, July 26th. Wells Fargo & Co set a $85.00 target price on shares of Citigroup and gave the stock a “buy” rating in a research report on Friday, August 16th. ValuEngine lowered shares of Citigroup from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. UBS Group raised their target price on shares of Citigroup from $87.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Barclays raised their target price on shares of Citigroup from $83.00 to $86.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $80.57.
Shares of C traded up $0.31 during mid-day trading on Friday, reaching $76.12. The company had a trading volume of 7,828,118 shares, compared to its average volume of 14,431,004. The stock has a market cap of $163.37 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 0.85 and a beta of 1.80. The firm has a fifty day simple moving average of $70.76 and a 200-day simple moving average of $68.30. Citigroup Inc has a fifty-two week low of $48.42 and a fifty-two week high of $76.28. The company has a current ratio of 1.00, a quick ratio of 1.01 and a debt-to-equity ratio of 1.36.
Citigroup (NYSE:C) last released its earnings results on Tuesday, October 15th. The financial services provider reported $2.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.95 by $0.12. Citigroup had a net margin of 18.28% and a return on equity of 10.16%. The company had revenue of $18.57 billion during the quarter, compared to the consensus estimate of $18.54 billion. During the same quarter in the previous year, the firm earned $1.73 EPS. The company’s revenue was up 1.0% on a year-over-year basis. As a group, equities analysts predict that Citigroup Inc will post 7.58 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $2.04 dividend on an annualized basis and a yield of 2.68%. Citigroup’s dividend payout ratio (DPR) is 30.68%.
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).
Further Reading: Quantitative Easing
Want to see what other hedge funds are holding C? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citigroup Inc (NYSE:C).
Receive News & Ratings for Citigroup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citigroup and related companies with MarketBeat.com's FREE daily email newsletter.