Tokio Marine Asset Management Co. Ltd. Grows Holdings in Citigroup Inc (NYSE:C)

Tokio Marine Asset Management Co. Ltd. boosted its holdings in Citigroup Inc (NYSE:C) by 6.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,533 shares of the financial services provider’s stock after purchasing an additional 550 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Citigroup were worth $598,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new position in Citigroup during the 4th quarter worth $1,383,526,000. Thoroughbred Financial Services LLC raised its position in Citigroup by 7,838.5% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,554,605 shares of the financial services provider’s stock worth $155,460,000 after buying an additional 1,535,022 shares during the last quarter. SG Americas Securities LLC raised its position in Citigroup by 106.2% during the 1st quarter. SG Americas Securities LLC now owns 84,439 shares of the financial services provider’s stock worth $5,254,000 after buying an additional 1,456,722 shares during the last quarter. Geode Capital Management LLC raised its position in Citigroup by 4.1% during the 4th quarter. Geode Capital Management LLC now owns 30,039,886 shares of the financial services provider’s stock worth $1,561,201,000 after buying an additional 1,187,619 shares during the last quarter. Finally, Sanders Capital LLC raised its position in Citigroup by 12.7% during the 1st quarter. Sanders Capital LLC now owns 10,103,648 shares of the financial services provider’s stock worth $709,503,000 after buying an additional 1,140,636 shares during the last quarter. Hedge funds and other institutional investors own 76.02% of the company’s stock.

A number of equities analysts have commented on C shares. Bank of America downgraded shares of Citigroup to a “hold” rating in a research report on Friday, July 26th. Barclays upped their price target on shares of Citigroup from $83.00 to $86.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. JPMorgan Chase & Co. upped their price target on shares of Citigroup from $75.00 to $77.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods raised shares of Citigroup from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $74.00 to $86.00 in a research note on Friday, July 26th. Finally, Zacks Investment Research cut shares of Citigroup from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have given a buy rating to the company’s stock. Citigroup has an average rating of “Buy” and an average target price of $79.57.

NYSE C traded down $2.42 during trading hours on Monday, reaching $65.19. The company’s stock had a trading volume of 16,400,394 shares, compared to its average volume of 12,815,772. The company has a market cap of $156.35 billion, a PE ratio of 9.80, a PEG ratio of 0.73 and a beta of 1.76. Citigroup Inc has a fifty-two week low of $48.42 and a fifty-two week high of $75.24. The business’s 50-day moving average price is $70.16. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.01 and a current ratio of 1.01.

Citigroup (NYSE:C) last issued its quarterly earnings data on Monday, July 15th. The financial services provider reported $1.95 EPS for the quarter, beating the Zacks’ consensus estimate of $1.78 by $0.17. Citigroup had a net margin of 18.24% and a return on equity of 10.10%. The firm had revenue of $18.76 billion for the quarter, compared to analysts’ expectations of $18.49 billion. During the same period in the prior year, the company earned $1.63 EPS. The firm’s revenue was up 1.6% on a year-over-year basis. As a group, equities research analysts forecast that Citigroup Inc will post 7.55 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 5th will be paid a dividend of $0.51 per share. This is a boost from Citigroup’s previous quarterly dividend of $0.45. This represents a $2.04 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Friday, August 2nd. Citigroup’s dividend payout ratio (DPR) is currently 27.07%.

Citigroup Company Profile

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

Further Reading: What is a portfolio manager?

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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