Capital Asset Advisory Services LLC bought a new stake in Citigroup Inc (NYSE:C) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 16,210 shares of the financial services provider’s stock, valued at approximately $1,135,000. Citigroup accounts for approximately 0.9% of Capital Asset Advisory Services LLC’s investment portfolio, making the stock its 20th largest holding.
Several other large investors also recently added to or reduced their stakes in C. ValueAct Holdings L.P. boosted its stake in shares of Citigroup by 20.2% in the fourth quarter. ValueAct Holdings L.P. now owns 31,525,500 shares of the financial services provider’s stock valued at $1,641,218,000 after buying an additional 5,300,000 shares in the last quarter. Geode Capital Management LLC boosted its position in Citigroup by 4.1% during the fourth quarter. Geode Capital Management LLC now owns 30,039,886 shares of the financial services provider’s stock worth $1,561,201,000 after purchasing an additional 1,187,619 shares in the last quarter. Norges Bank purchased a new stake in Citigroup during the fourth quarter worth $1,383,526,000. Dimensional Fund Advisors LP boosted its position in Citigroup by 1.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 17,392,544 shares of the financial services provider’s stock worth $905,481,000 after purchasing an additional 239,599 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in Citigroup by 4.4% during the fourth quarter. Legal & General Group Plc now owns 11,920,461 shares of the financial services provider’s stock worth $620,565,000 after purchasing an additional 506,540 shares in the last quarter. 76.78% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have commented on C. Berenberg Bank set a $78.00 target price on Citigroup and gave the stock a “buy” rating in a research report on Monday, June 17th. Bank of America downgraded Citigroup to a “hold” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods upgraded Citigroup from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $74.00 to $86.00 in a research report on Friday, July 26th. JPMorgan Chase & Co. boosted their target price on Citigroup from $75.00 to $77.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Finally, Morgan Stanley set a $78.00 price objective on Citigroup and gave the company a “buy” rating in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $79.12.
Citigroup (NYSE:C) last released its earnings results on Monday, July 15th. The financial services provider reported $1.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.17. The firm had revenue of $18.76 billion during the quarter, compared to analyst estimates of $18.49 billion. Citigroup had a return on equity of 10.10% and a net margin of 18.24%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.63 earnings per share. As a group, equities analysts predict that Citigroup Inc will post 7.54 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be paid a $0.51 dividend. This is a positive change from Citigroup’s previous quarterly dividend of $0.45. This represents a $2.04 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Friday, August 2nd. Citigroup’s dividend payout ratio is presently 30.68%.
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).
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