Norway Savings Bank Increases Holdings in Citigroup Inc. (NYSE:C)

Norway Savings Bank grew its holdings in shares of Citigroup Inc. (NYSE:C) by 6.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,901 shares of the company’s stock after acquiring an additional 1,175 shares during the period. Norway Savings Bank’s holdings in Citigroup were worth $1,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of C. Franklin Resources Inc. grew its position in shares of Citigroup by 35.6% during the 2nd quarter. Franklin Resources Inc. now owns 18,657,519 shares of the company’s stock valued at $1,320,019,000 after acquiring an additional 4,896,247 shares during the period. Amundi bought a new stake in shares of Citigroup during the 2nd quarter valued at $312,784,000. Price T Rowe Associates Inc. MD grew its position in shares of Citigroup by 79.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,186,666 shares of the company’s stock valued at $437,707,000 after acquiring an additional 2,739,209 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Citigroup by 97.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,061,315 shares of the company’s stock valued at $287,338,000 after acquiring an additional 2,001,150 shares during the period. Finally, Border to Coast Pensions Partnership Ltd bought a new stake in shares of Citigroup during the 2nd quarter valued at $94,962,008,000. 75.03% of the stock is owned by hedge funds and other institutional investors.

C opened at $67.28 on Thursday. The firm has a 50-day simple moving average of $69.79 and a two-hundred day simple moving average of $71.27. Citigroup Inc. has a 52 week low of $54.99 and a 52 week high of $80.29. The company has a market capitalization of $136.36 billion, a PE ratio of 6.29, a price-to-earnings-growth ratio of 0.49 and a beta of 1.84. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.41.

Citigroup (NYSE:C) last released its quarterly earnings data on Thursday, October 14th. The company reported $2.15 EPS for the quarter, beating the consensus estimate of $1.92 by $0.23. Citigroup had a net margin of 29.23% and a return on equity of 13.12%. The business had revenue of $17.15 billion during the quarter, compared to the consensus estimate of $16.93 billion. During the same quarter in the prior year, the firm earned $1.40 EPS. The business’s revenue was down .9% on a year-over-year basis. As a group, sell-side analysts expect that Citigroup Inc. will post 10.55 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 24th. Stockholders of record on Monday, November 1st were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend was Friday, October 29th. Citigroup’s dividend payout ratio is 19.07%.

In other news, CEO Cantu Ernesto Torres sold 27,783 shares of the company’s stock in a transaction dated Tuesday, October 19th. The shares were sold at an average price of $72.50, for a total transaction of $2,014,267.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.07% of the stock is currently owned by corporate insiders.

A number of equities research analysts have recently issued reports on C shares. Jefferies Financial Group boosted their price objective on shares of Citigroup from $81.00 to $87.00 and gave the company a “buy” rating in a research report on Monday, October 11th. Morgan Stanley upped their target price on shares of Citigroup from $89.00 to $91.00 and gave the stock an “overweight” rating in a report on Thursday, July 29th. Finally, BMO Capital Markets upped their target price on shares of Citigroup from $84.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, October 15th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Citigroup currently has an average rating of “Buy” and a consensus target price of $81.15.

Citigroup Profile

Citigroup, Inc is a holding company, which engages in the provision of financial products and services. It operates through the following segments: Global Consumer Banking; Institutional Clients Group; and Corporate and Other. The Global Consumer Banking segment provides traditional banking services to retail customers through retail banking, including commercial banking, and Citi-branded cards and Citi retail services.

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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