Cetera Investment Advisers grew its stake in shares of Citigroup Inc. (NYSE:C) by 14.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,107 shares of the financial services provider’s stock after acquiring an additional 767 shares during the quarter. Cetera Investment Advisers’ holdings in Citigroup were worth $407,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in C. BlackRock Inc. boosted its holdings in shares of Citigroup by 2,718.7% in the first quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock worth $11,749,573,000 after buying an additional 189,447,104 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Citigroup by 109.5% in the second quarter. Lazard Asset Management LLC now owns 9,292,727 shares of the financial services provider’s stock worth $621,497,000 after buying an additional 4,856,866 shares during the last quarter. PointState Capital LP purchased a new position in shares of Citigroup in the second quarter worth approximately $321,322,000. Pioneer Investment Management Inc. boosted its holdings in shares of Citigroup by 2,317.8% in the second quarter. Pioneer Investment Management Inc. now owns 5,002,029 shares of the financial services provider’s stock worth $334,536,000 after buying an additional 4,795,145 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Citigroup by 42.4% in the second quarter. The Manufacturers Life Insurance Company now owns 14,815,133 shares of the financial services provider’s stock worth $990,836,000 after buying an additional 4,413,329 shares during the last quarter. 78.59% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on the stock. Wells Fargo & Company assumed coverage on shares of Citigroup in a research note on Wednesday, August 9th. They set an “outperform” rating and a $90.00 target price on the stock. Raymond James Financial assumed coverage on shares of Citigroup in a research note on Tuesday, October 31st. They set a “hold” rating on the stock. set a $74.00 target price on shares of Citigroup and gave the stock a “hold” rating in a research note on Friday, August 11th. Morgan Stanley raised their target price on shares of Citigroup from $73.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, October 13th. Finally, BidaskClub upgraded shares of Citigroup from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Citigroup has a consensus rating of “Buy” and a consensus target price of $75.61.
Citigroup (NYSE:C) last released its quarterly earnings data on Thursday, October 12th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.10. The firm had revenue of $18.17 billion for the quarter, compared to analysts’ expectations of $17.87 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.48%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.24 earnings per share. sell-side analysts expect that Citigroup Inc. will post 5.31 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Monday, November 6th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend was Friday, November 3rd. Citigroup’s payout ratio is currently 24.66%.
Citigroup Company Profile
Citigroup Inc (Citi) is a financial services holding company. The Company’s whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.
Want to see what other hedge funds are holding C? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citigroup Inc. (NYSE:C).
Receive News & Ratings for Citigroup Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citigroup Inc. and related companies with MarketBeat.com's FREE daily email newsletter.