Supplemental Annuity Collective Trust of NJ trimmed its holdings in shares of Citigroup Inc (NYSE:C) by 5.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,000 shares of the financial services provider’s stock after selling 2,143 shares during the period. Citigroup accounts for about 1.2% of Supplemental Annuity Collective Trust of NJ’s holdings, making the stock its 14th largest holding. Supplemental Annuity Collective Trust of NJ’s holdings in Citigroup were worth $2,870,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. ValueAct Holdings L.P. increased its position in Citigroup by 55.4% during 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 during the period. FMR LLC grew its holdings in shares of 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 acquiring an additional 2,247,392 shares during the period. Summit Trail Advisors LLC lifted its stake in Citigroup by 5,933.7% in the 1st quarter. Summit Trail Advisors LLC now owns 1,103,074 shares of the financial services provider’s stock valued at $1,103,000 after buying an additional 1,084,792 shares in the last quarter. Royal London Asset Management Ltd. purchased a new stake in Citigroup in the 2nd quarter valued at approximately $71,423,000. Finally, Bessemer Group Inc. lifted its stake in Citigroup by 19.7% in the 2nd quarter. Bessemer Group Inc. now owns 5,012,434 shares of the financial services provider’s stock valued at $335,432,000 after buying an additional 824,301 shares in the last quarter. 74.79% of the stock is owned by institutional investors.
Shares of NYSE C opened at $66.68 on Wednesday. The company has a current ratio of 1.00, a quick 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. The stock has a market capitalization of $169.42 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 0.86 and a beta of 1.47.
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 Zacks’ consensus estimate of $1.66 by $0.07. The company had revenue of $18.39 billion for the quarter, compared to analysts’ expectations 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 company posted $1.42 earnings per share. As a group, analysts anticipate that Citigroup Inc will post 6.69 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Monday, November 5th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, November 2nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.70%. Citigroup’s dividend payout ratio is presently 33.77%.
A number of research analysts have weighed in on the company. Zacks Investment Research raised Citigroup from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research note on Tuesday, October 16th. BMO Capital Markets increased their price target on Citigroup to $92.00 and gave the stock a “market perform” rating in a research note on Monday, October 15th. Vining Sparks reaffirmed a “buy” rating and issued a $77.00 target price on shares of Citigroup in a research report on Tuesday, October 9th. ValuEngine lowered Citigroup from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Finally, Deutsche Bank increased their price target on Citigroup from $76.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, September 27th. Two 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 stock. The stock has a consensus rating of “Buy” and an average target price of $82.91.
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Citigroup Company Profile
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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