Minneapolis Portfolio Management Group LLC increased its holdings in shares of Citigroup Inc (NYSE:C) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 491,463 shares of the financial services provider’s stock after acquiring an additional 5,402 shares during the period. Citigroup makes up 4.2% of Minneapolis Portfolio Management Group LLC’s investment portfolio, making the stock its 9th largest holding. Minneapolis Portfolio Management Group LLC’s holdings in Citigroup were worth $35,258,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Kays Financial Advisory Corp ADV bought a new position in shares of Citigroup in the third quarter worth approximately $1,380,000. Parallel Advisors LLC lifted its stake in shares of Citigroup by 99.7% in the third quarter. Parallel Advisors LLC now owns 15,548 shares of the financial services provider’s stock worth $1,115,000 after buying an additional 7,761 shares in the last quarter. Birinyi Associates Inc. lifted its stake in shares of Citigroup by 20.7% in the third quarter. Birinyi Associates Inc. now owns 8,750 shares of the financial services provider’s stock worth $628,000 after buying an additional 1,500 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Citigroup by 2,117.1% in the third quarter. Victory Capital Management Inc. now owns 861,798 shares of the financial services provider’s stock worth $61,825,000 after buying an additional 822,927 shares in the last quarter. Finally, Perella Weinberg Partners Capital Management LP lifted its stake in shares of Citigroup by 38.8% in the third quarter. Perella Weinberg Partners Capital Management LP now owns 140,205 shares of the financial services provider’s stock worth $10,058,000 after buying an additional 39,224 shares in the last quarter. 74.79% of the stock is currently owned by institutional investors and hedge funds.
Shares of C stock opened at $65.92 on Monday. Citigroup Inc has a 12 month low of $63.18 and a 12 month high of $80.70. The company has a market cap of $169.42 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 0.86 and a beta of 1.47. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.00 and a quick ratio of 1.00.
Citigroup (NYSE:C) last announced its earnings results on Friday, October 12th. The financial services provider reported $1.73 EPS for the quarter, beating the Zacks’ consensus estimate of $1.66 by $0.07. Citigroup had a negative net margin of 4.81% and a positive return on equity of 9.42%. The business had revenue of $18.39 billion during the quarter, compared to analysts’ expectations of $18.43 billion. During the same period in the prior year, the company earned $1.42 earnings per share. As a group, research analysts predict that Citigroup Inc will post 6.69 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Monday, November 5th will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, November 2nd. This represents a $1.80 dividend on an annualized basis and a yield of 2.73%. Citigroup’s dividend payout ratio is currently 33.77%.
Several brokerages have recently issued reports on C. Zacks Investment Research upgraded shares of Citigroup from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research note on Tuesday, October 16th. Wells Fargo & Co set a $100.00 target price on shares of Citigroup and gave the stock a “buy” rating in a research note on Monday, August 27th. TheStreet upgraded shares of Citigroup from a “c” rating to a “b-” rating in a research note on Monday, July 30th. BMO Capital Markets boosted their price objective on shares of Citigroup to $92.00 and gave the company a “market perform” rating in a report on Monday, October 15th. Finally, Deutsche Bank boosted their price objective on shares of Citigroup from $76.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, September 27th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $82.91.
In other Citigroup news, CEO Francisco Aristeguieta sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $72.36, for a total transaction of $1,085,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is currently owned by corporate insiders.
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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