Great West Life Assurance Co. Can lifted its position in shares of Citigroup Inc. (NYSE:C) by 1,321.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,376,360 shares of the company’s stock after buying an additional 18,012,890 shares during the period. Great West Life Assurance Co. Can owned about 0.93% of Citigroup worth $73,923,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB boosted its position in Citigroup by 123.8% during the second quarter. Nordea Investment Management AB now owns 13,113,214 shares of the company’s stock valued at $658,414,000 after purchasing an additional 7,254,912 shares during the last quarter. Sanders Capital LLC increased its stake in shares of Citigroup by 52.0% in the 2nd quarter. Sanders Capital LLC now owns 19,635,229 shares of the company’s stock valued at $1,108,724,000 after purchasing an additional 6,714,645 shares during the last quarter. Thornburg Investment Management Inc. increased its stake in shares of Citigroup by 201.4% in the 2nd quarter. Thornburg Investment Management Inc. now owns 4,661,658 shares of the company’s stock valued at $238,211,000 after purchasing an additional 3,115,208 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Citigroup by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 35,615,758 shares of the company’s stock valued at $1,819,963,000 after purchasing an additional 1,711,353 shares during the last quarter. Finally, Marshall Wace North America L.P. increased its stake in shares of Citigroup by 953.5% in the 2nd quarter. Marshall Wace North America L.P. now owns 1,096,927 shares of the company’s stock valued at $56,053,000 after purchasing an additional 992,800 shares during the last quarter. 68.32% of the stock is owned by institutional investors.
Several research firms recently weighed in on C. Morgan Stanley cut their price objective on Citigroup from $61.00 to $58.00 and set an “overweight” rating on the stock in a report on Tuesday, September 15th. Credit Suisse Group cut their target price on Citigroup from $75.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, October 14th. The Goldman Sachs Group downgraded Citigroup from a “conviction-buy” rating to a “buy” rating in a report on Thursday, October 22nd. Odeon Capital Group downgraded Citigroup from a “hold” rating to a “sell” rating in a report on Tuesday, August 18th. Finally, BMO Capital Markets cut their target price on Citigroup from $87.00 to $83.00 in a report on Wednesday, October 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have given a buy rating to the stock. Citigroup presently has an average rating of “Buy” and an average price target of $68.75.
C opened at $56.30 on Monday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.97 and a current ratio of 0.97. Citigroup Inc. has a fifty-two week low of $32.00 and a fifty-two week high of $83.11. The firm’s fifty day moving average is $46.08 and its 200 day moving average is $48.70. The stock has a market cap of $118.80 billion, a price-to-earnings ratio of 11.11, a price-to-earnings-growth ratio of 1.29 and a beta of 1.81.
Citigroup (NYSE:C) last announced its quarterly earnings results on Monday, October 19th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.39. The company had revenue of $17.30 billion for the quarter, compared to the consensus estimate of $17.18 billion. Citigroup had a net margin of 12.72% and a return on equity of 6.57%. Citigroup’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.97 EPS. On average, equities research analysts predict that Citigroup Inc. will post 4.22 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 25th. Investors of record on Monday, November 2nd were issued a dividend of $0.51 per share. The ex-dividend date was Friday, October 30th. This represents a $2.04 annualized dividend and a yield of 3.62%. Citigroup’s payout ratio is 26.91%.
In related news, Director Gary M. Reiner sold 485 shares of the company’s stock in a transaction dated Wednesday, October 14th. The shares were sold at an average price of $102.74, for a total transaction of $49,828.90. Following the transaction, the director now directly owns 4,462 shares in the company, valued at approximately $458,425.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.07% of the company’s stock.
Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates in two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).
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