Evercore Wealth Management LLC increased its stake in Citigroup Inc (NYSE:C) by 15.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,637 shares of the financial services provider’s stock after purchasing an additional 3,176 shares during the quarter. Evercore Wealth Management LLC’s holdings in Citigroup were worth $1,696,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of C. Bank of New York Mellon Corp increased its stake in Citigroup by 96,369.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 41,578,475 shares of the financial services provider’s stock worth $2,982,839,000 after purchasing an additional 41,535,375 shares in the last quarter. ValueAct Holdings L.P. increased its stake in Citigroup by 55.4% in the 2nd quarter. ValueAct Holdings L.P. now owns 25,175,500 shares of the financial services provider’s stock worth $1,684,744,000 after purchasing an additional 8,975,500 shares in the last quarter. SG Americas Securities LLC increased its stake in Citigroup by 120.7% in the 3rd quarter. SG Americas Securities LLC now owns 395,418 shares of the financial services provider’s stock worth $28,367,000 after purchasing an additional 2,301,918 shares in the last quarter. FMR LLC increased its stake in Citigroup by 2.1% in the 2nd quarter. FMR LLC now owns 107,588,759 shares of the financial services provider’s stock worth $7,199,839,000 after purchasing an additional 2,247,392 shares in the last quarter. Finally, Royal London Asset Management Ltd. purchased a new position in Citigroup in the 2nd quarter worth about $71,423,000. 72.79% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on C shares. Credit Suisse Group lowered their target price on Citigroup from $88.00 to $80.00 and set an “outperform” rating on the stock in a research note on Friday. Zacks Investment Research cut Citigroup from a “buy” rating to a “hold” rating in a research note on Friday. BMO Capital Markets lifted their target price on Citigroup to $92.00 and gave the company a “market perform” rating in a research note on Monday, October 15th. Vining Sparks reaffirmed a “buy” rating and set a $77.00 target price on shares of Citigroup in a research note on Tuesday, October 9th. Finally, ValuEngine cut Citigroup from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $82.36.
C opened at $58.35 on Friday. Citigroup Inc has a twelve month low of $58.14 and a twelve month high of $80.70. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $154.36 billion, a P/E ratio of 9.50, a P/E/G ratio of 0.79 and a beta of 1.44.
Citigroup (NYSE:C) last issued its quarterly earnings results on Friday, October 12th. The financial services provider reported $1.73 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $18.43 billion. During the same period in the previous year, the company earned $1.42 earnings per share. Equities analysts expect that Citigroup Inc will post 6.69 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 21st. Stockholders of record on Monday, November 5th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, November 2nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.08%. Citigroup’s dividend payout ratio (DPR) is presently 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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