Janney Montgomery Scott LLC decreased its position in shares of Citigroup Inc (NYSE:C) by 2.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 247,840 shares of the financial services provider’s stock after selling 5,013 shares during the period. Janney Montgomery Scott LLC’s holdings in Citigroup were worth $17,780,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in shares of Citigroup by 1.3% in the first quarter. Principal Financial Group Inc. now owns 4,167,300 shares of the financial services provider’s stock worth $281,292,000 after buying an additional 53,619 shares during the last quarter. Trust Co. of Vermont increased its stake in shares of Citigroup by 8.4% in the second quarter. Trust Co. of Vermont now owns 18,527 shares of the financial services provider’s stock worth $1,240,000 after buying an additional 1,438 shares during the last quarter. NN Investment Partners Holdings N.V. increased its stake in shares of Citigroup by 0.7% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,914,091 shares of the financial services provider’s stock worth $128,089,000 after buying an additional 13,659 shares during the last quarter. Nexus Investment Management Inc. increased its stake in shares of Citigroup by 0.5% in the second quarter. Nexus Investment Management Inc. now owns 379,635 shares of the financial services provider’s stock worth $25,405,000 after buying an additional 1,785 shares during the last quarter. Finally, First National Bank of Mount Dora Trust Investment Services increased its stake in shares of Citigroup by 4.7% in the second quarter. First National Bank of Mount Dora Trust Investment Services now owns 66,888 shares of the financial services provider’s stock worth $4,476,000 after buying an additional 3,010 shares during the last quarter. Institutional investors and hedge funds own 74.79% of the company’s stock.
A number of brokerages 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 price target for the company in a research note on Tuesday, October 16th. Wells Fargo & Co set a $100.00 price target 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 target price on shares of Citigroup to $92.00 and gave the company a “market perform” rating in a research note on Monday, October 15th. Finally, Deutsche Bank boosted their target price on shares of Citigroup from $76.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, September 27th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $82.91.
C stock opened at $65.76 on Friday. 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 Inc has a 1-year low of $63.18 and a 1-year high of $80.70. The firm has a market cap of $175.43 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 0.90 and a beta of 1.47.
Citigroup (NYSE:C) last released its earnings results on Friday, October 12th. The financial services provider reported $1.73 earnings per share for the quarter, beating the 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 firm had revenue of $18.39 billion during the quarter, compared to analyst estimates of $18.43 billion. During the same quarter in the previous year, the firm earned $1.42 earnings per share. Equities research analysts predict that Citigroup Inc will post 6.69 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Monday, November 5th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Friday, November 2nd. Citigroup’s dividend payout ratio (DPR) is 33.77%.
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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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