Advisors Asset Management Inc. grew its stake in Citigroup Inc (NYSE:C) by 31.1% in the second quarter, Holdings Channel reports. The fund owned 128,863 shares of the financial services provider’s stock after acquiring an additional 30,550 shares during the period. Advisors Asset Management Inc.’s holdings in Citigroup were worth $8,624,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC raised its stake in shares of Citigroup by 2.1% in the second quarter. FMR LLC now owns 107,588,759 shares of the financial services provider’s stock worth $7,199,839,000 after acquiring an additional 2,247,392 shares during the last quarter. ValueAct Holdings L.P. raised its stake in shares of Citigroup by 55.4% in the second quarter. ValueAct Holdings L.P. now owns 25,175,500 shares of the financial services provider’s stock worth $1,684,744,000 after acquiring an additional 8,975,500 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Citigroup by 4.5% in the second quarter. Dimensional Fund Advisors LP now owns 16,802,064 shares of the financial services provider’s stock worth $1,124,412,000 after acquiring an additional 726,738 shares during the last quarter. LSV Asset Management raised its stake in shares of Citigroup by 2.7% in the second quarter. LSV Asset Management now owns 13,634,855 shares of the financial services provider’s stock worth $912,444,000 after acquiring an additional 352,801 shares during the last quarter. Finally, Greenhaven Associates Inc. raised its stake in shares of Citigroup by 2.3% in the second quarter. Greenhaven Associates Inc. now owns 12,325,856 shares of the financial services provider’s stock worth $824,846,000 after acquiring an additional 275,266 shares during the last quarter. 74.88% of the stock is owned by institutional investors.
C has been the subject of a number of research analyst reports. ValuEngine downgraded shares of Citigroup from a “hold” rating to a “sell” rating in a research note on Wednesday, August 15th. Royal Bank of Canada reissued a “buy” rating and set a $85.00 price target on shares of Citigroup in a research note on Monday, July 16th. Morgan Stanley dropped their price target on shares of Citigroup from $88.00 to $84.00 and set an “overweight” rating for the company in a research note on Monday, July 16th. Wolfe Research began coverage on shares of Citigroup in a research note on Tuesday, September 25th. They set an “outperform” rating for the company. Finally, Vining Sparks reissued a “buy” rating and set a $77.00 price target on shares of Citigroup in a research note on Tuesday, October 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $82.91.
Shares of NYSE:C opened at $68.86 on Friday. Citigroup Inc has a 52 week low of $64.38 and a 52 week high of $80.70. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $179.49 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 0.92 and a beta of 1.46.
Citigroup (NYSE:C) last issued its earnings results on Friday, October 12th. The financial services provider reported $1.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.66 by $0.07. The firm had revenue of $18.39 billion during the quarter, compared to the consensus estimate of $18.43 billion. Citigroup had a negative net margin of 4.81% and a positive return on equity of 9.42%. During the same quarter in the prior year, the firm earned $1.42 earnings per share. On average, research analysts anticipate that Citigroup Inc will post 6.69 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Monday, November 5th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Friday, November 2nd. Citigroup’s dividend payout ratio (DPR) is presently 33.77%.
Citigroup Company Profile
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.
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