CIBC Asset Management Inc Boosts Stock Position in Citigroup Inc. (NYSE:C)

CIBC Asset Management Inc raised its holdings in Citigroup Inc. (NYSE:C) by 8.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 297,779 shares of the company’s stock after buying an additional 21,936 shares during the period. CIBC Asset Management Inc’s holdings in Citigroup were worth $18,641,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of C. Price T Rowe Associates Inc. MD raised its stake in Citigroup by 123.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after buying an additional 17,525,484 shares in the last quarter. Swedbank AB bought a new position in shares of Citigroup in the 1st quarter worth $253,286,000. Acadian Asset Management LLC lifted its stake in shares of Citigroup by 527.5% during the 2nd quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock worth $158,521,000 after purchasing an additional 2,100,135 shares during the last quarter. Caxton Associates LP boosted its position in Citigroup by 7,393.3% during the first quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock valued at $127,453,000 after purchasing an additional 1,988,494 shares in the last quarter. Finally, Capital World Investors grew its stake in Citigroup by 26.1% in the first quarter. Capital World Investors now owns 5,280,342 shares of the company’s stock valued at $333,929,000 after purchasing an additional 1,092,980 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group lowered their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Evercore ISI upped their price target on Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 16th. Morgan Stanley lowered their price objective on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Barclays increased their price target on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Bank of America increased their price objective on shares of Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Citigroup has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Citigroup Price Performance

Shares of NYSE C opened at $68.76 on Friday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a fifty day moving average of $63.21 and a 200 day moving average of $62.59. The firm has a market cap of $130.04 billion, a PE ratio of 19.93, a PEG ratio of 0.77 and a beta of 1.44. Citigroup Inc. has a one year low of $44.32 and a one year high of $70.20.

Citigroup (NYSE:C) last released its earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The business had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. During the same quarter in the previous year, the company earned $1.52 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. As a group, research analysts predict that Citigroup Inc. will post 5.85 EPS for the current fiscal year.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date was Monday, November 4th. Citigroup’s dividend payout ratio is presently 64.93%.

Citigroup Profile

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.