Braun Stacey Associates Inc. boosted its stake in Citigroup Inc. (NYSE:C) by 0.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 269,851 shares of the financial services provider’s stock after buying an additional 1,111 shares during the period. Citigroup accounts for approximately 1.3% of Braun Stacey Associates Inc.’s investment portfolio, making the stock its 9th largest holding. Braun Stacey Associates Inc.’s holdings in Citigroup were worth $19,629,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Trust Co. of Vermont increased its holdings in shares of Citigroup by 15.3% during the third quarter. Trust Co. of Vermont now owns 14,883 shares of the financial services provider’s stock valued at $1,083,000 after purchasing an additional 1,971 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Citigroup during the third quarter valued at $38,312,000. Steinberg Global Asset Management increased its holdings in shares of Citigroup by 26.5% during the third quarter. Steinberg Global Asset Management now owns 18,063 shares of the financial services provider’s stock valued at $1,314,000 after purchasing an additional 3,788 shares during the period. Saratoga Research & Investment Management acquired a new position in shares of Citigroup during the third quarter valued at $185,000. Finally, TIAA FSB increased its holdings in shares of Citigroup by 76.1% during the third quarter. TIAA FSB now owns 151,861 shares of the financial services provider’s stock valued at $11,046,000 after purchasing an additional 65,621 shares during the period. 78.59% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on C shares. Credit Suisse Group reaffirmed a “buy” rating and set a $83.00 target price (up from $73.00) on shares of Citigroup in a report on Monday, October 9th. They noted that the move was a valuation call. Wells Fargo & Company reaffirmed a “buy” rating on shares of Citigroup in a report on Monday, October 2nd. Royal Bank of Canada reaffirmed a “buy” rating and set a $75.00 target price on shares of Citigroup in a report on Wednesday, September 27th. BidaskClub raised Citigroup from a “hold” rating to a “buy” rating in a report on Thursday, September 21st. Finally, Nomura lifted their target price on Citigroup from $80.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, October 13th. One analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $75.97.
Citigroup (NYSE:C) last announced its quarterly earnings data on Thursday, October 12th. The financial services provider reported $1.42 EPS for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.10. Citigroup had a return on equity of 7.48% and a net margin of 18.11%. The firm had revenue of $18.17 billion during the quarter, compared to analyst estimates of $17.87 billion. During the same period last year, the company posted $1.24 EPS. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. equities analysts predict that Citigroup Inc. will post 5.3 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Monday, November 6th were given a dividend of $0.32 per share. The ex-dividend date was Friday, November 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 1.68%. Citigroup’s payout ratio is presently 24.66%.
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.
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