Marshall Wace North America L.P. boosted its stake in Citigroup Inc (NYSE:C) by 18.1% during the third quarter, HoldingsChannel.com reports. The firm owned 634,273 shares of the financial services provider’s stock after buying an additional 97,326 shares during the period. Marshall Wace North America L.P.’s holdings in Citigroup were worth $45,503,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Csenge Advisory Group bought a new stake in shares of Citigroup in the 3rd quarter worth approximately $104,000. Trust Asset Management LLC grew its position in shares of Citigroup by 3,894.4% in the 3rd quarter. Trust Asset Management LLC now owns 347,150 shares of the financial services provider’s stock worth $130,000 after buying an additional 338,459 shares during the last quarter. Arlington Partners LLC bought a new stake in shares of Citigroup in the 3rd quarter worth approximately $143,000. Almanack Investment Partners LLC. bought a new stake in shares of Citigroup in the 3rd quarter worth approximately $150,000. Finally, Peoples Financial Services CORP. grew its position in shares of Citigroup by 82.8% in the 3rd quarter. Peoples Financial Services CORP. now owns 2,208 shares of the financial services provider’s stock worth $159,000 after buying an additional 1,000 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.
NYSE C opened at $58.35 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.00 and a current ratio of 1.00. Citigroup Inc has a twelve month low of $58.14 and a twelve month high of $80.70. The company has a market cap of $154.36 billion, a P/E ratio of 10.95, a PEG ratio of 0.79 and a beta of 1.44.
Citigroup (NYSE:C) last released its quarterly earnings results on Friday, October 12th. The financial services provider reported $1.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.66 by $0.07. Citigroup had a positive return on equity of 9.42% and a negative net margin of 4.81%. The company had revenue of $18.39 billion for the quarter, compared to analyst estimates of $18.43 billion. During the same period in the previous year, the company posted $1.42 earnings per share. Research analysts predict that Citigroup Inc will post 6.69 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 21st. Investors of record on Monday, November 5th were given a dividend of $0.45 per share. The ex-dividend date was Friday, November 2nd. This represents a $1.80 annualized dividend and a dividend yield of 3.08%. Citigroup’s dividend payout ratio is presently 33.77%.
A number of brokerages have recently weighed in on C. Zacks Investment Research upgraded Citigroup from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research report on Tuesday, October 16th. Wells Fargo & Co set a $100.00 price objective on Citigroup and gave the stock a “buy” rating in a research report on Monday, August 27th. Credit Suisse Group cut their price objective on Citigroup from $88.00 to $80.00 and set an “outperform” rating on the stock in a research report on Friday. BMO Capital Markets lifted their price objective on Citigroup to $92.00 and gave the stock a “market perform” rating in a research report on Monday, October 15th. Finally, Deutsche Bank lifted their price objective on Citigroup from $76.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, September 27th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the company. Citigroup has a consensus rating of “Buy” and a consensus price target of $82.36.
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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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