Becker Capital Management Inc. increased its position in shares of Citigroup Inc (NYSE:C) by 0.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 644,486 shares of the financial services provider’s stock after purchasing an additional 3,465 shares during the quarter. Citigroup accounts for 1.5% of Becker Capital Management Inc.’s investment portfolio, making the stock its 24th biggest holding. Becker Capital Management Inc.’s holdings in Citigroup were worth $46,235,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. ProVise Management Group LLC raised its holdings in shares of Citigroup by 36.8% in the third quarter. ProVise Management Group LLC now owns 133,132 shares of the financial services provider’s stock worth $9,551,000 after acquiring an additional 35,831 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in shares of Citigroup by 163.5% in the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 3,418 shares of the financial services provider’s stock worth $245,000 after acquiring an additional 2,121 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of Citigroup by 46.4% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 359,610 shares of the financial services provider’s stock worth $25,798,000 after acquiring an additional 113,960 shares during the last quarter. Gulf International Bank UK Ltd raised its holdings in shares of Citigroup by 4.5% in the third quarter. Gulf International Bank UK Ltd now owns 865,198 shares of the financial services provider’s stock worth $62,069,000 after acquiring an additional 36,878 shares during the last quarter. Finally, BP PLC raised its holdings in shares of Citigroup by 7.9% in the third quarter. BP PLC now owns 315,000 shares of the financial services provider’s stock worth $22,601,000 after acquiring an additional 23,000 shares during the last quarter. 74.79% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:C opened at $65.76 on Friday. The firm has a market capitalization of $171.37 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 0.87 and a beta of 1.47. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.32. Citigroup Inc has a 52 week low of $63.18 and a 52 week high of $80.70.
Citigroup (NYSE:C) last announced its quarterly earnings data 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. The business had revenue of $18.39 billion during the quarter, compared to the consensus estimate of $18.43 billion. Citigroup had a positive return on equity of 9.42% and a negative net margin of 4.81%. During the same quarter in the previous year, the business earned $1.42 earnings per share. On average, research analysts anticipate that Citigroup Inc will post 6.69 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Monday, November 5th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, November 2nd. Citigroup’s dividend payout ratio is currently 33.77%.
C has been the subject of a number of analyst reports. Royal Bank of Canada reissued a “buy” rating and issued a $85.00 price target on shares of Citigroup in a report on Monday, July 16th. Morgan Stanley cut their price target on Citigroup from $88.00 to $84.00 and set an “overweight” rating for the company in a report on Monday, July 16th. Oppenheimer boosted their price target on Citigroup from $89.00 to $91.00 and gave the stock an “outperformer” rating in a report on Monday, July 16th. BMO Capital Markets boosted their price target on Citigroup from $76.00 to $85.00 and gave the stock a “market perform” rating in a report on Monday, July 16th. Finally, ValuEngine raised Citigroup from a “sell” rating to a “hold” rating in a report on Monday, July 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $82.91.
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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