Pinnacle Associates Ltd. increased its position in shares of Citigroup Inc. (NYSE:C) by 13.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 536,887 shares of the financial services provider’s stock after buying an additional 63,478 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Citigroup were worth $35,907,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of C. Catamount Wealth Management bought a new position in shares of Citigroup in the second quarter worth $100,000. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in shares of Citigroup by 206.0% in 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 buying an additional 1,030 shares in the last quarter. Patten Group Inc. raised its position in shares of Citigroup by 6.6% in the first quarter. Patten Group Inc. now owns 1,765 shares of the financial services provider’s stock worth $105,000 after buying an additional 110 shares in the last quarter. Dubuque Bank & Trust Co. raised its position in Citigroup by 60.8% during the second quarter. Dubuque Bank & Trust Co. now owns 1,584 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 599 shares in the last quarter. Finally, Advantage Investment Management LLC raised its position in Citigroup by 109.3% during the first quarter. Advantage Investment Management LLC now owns 1,965 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 1,026 shares in the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.
Citigroup Inc. (C) traded down $0.18 during trading on Friday, reaching $72.25. 12,852,601 shares of the company were exchanged, compared to its average volume of 17,054,582. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $191,505.06, a price-to-earnings ratio of 13.96, a P/E/G ratio of 1.42 and a beta of 1.57. Citigroup Inc. has a 12 month low of $51.60 and a 12 month high of $76.14.
Citigroup (NYSE:C) last issued its earnings results on Thursday, October 12th. The financial services provider reported $1.42 EPS for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.10. The business had revenue of $18.17 billion for the quarter, compared to the consensus estimate of $17.87 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.48%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.24 EPS. equities analysts predict that Citigroup Inc. will post 5.29 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Monday, November 6th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 1.77%. Citigroup’s dividend payout ratio is currently 24.66%.
A number of equities research analysts have weighed in on C shares. Bank of America Corporation restated a “neutral” rating on shares of Citigroup in a research report on Wednesday, October 11th. Credit Suisse Group reiterated an “outperform” rating and issued a $76.00 price objective (up previously from $70.00) on shares of Citigroup in a report on Wednesday, July 26th. Wells Fargo & Company reiterated a “buy” rating on shares of Citigroup in a report on Monday, October 2nd. Atlantic Securities reiterated an “overweight” rating and issued a $85.00 price objective (up previously from $75.00) on shares of Citigroup in a report on Tuesday, September 26th. Finally, Vetr cut Citigroup from a “strong-buy” rating to a “buy” rating and set a $76.22 target price on the stock. in a research note on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Citigroup currently has a consensus rating of “Buy” and a consensus target price of $74.77.
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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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