Nomura Asset Management Co. Ltd. lessened its holdings in Citigroup Inc (NYSE:C) by 8.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 703,862 shares of the financial services provider’s stock after selling 61,947 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Citigroup were worth $51,199,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Catamount Wealth Management bought a new stake in shares of Citigroup in the 2nd quarter worth about $100,000. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its position in Citigroup by 206.0% during the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,530 shares of the financial services provider’s stock worth $102,000 after buying an additional 1,030 shares in the last quarter. Balentine LLC lifted its position in Citigroup by 20.2% during the 2nd quarter. Balentine LLC now owns 1,617 shares of the financial services provider’s stock worth $108,000 after buying an additional 272 shares in the last quarter. Acrospire Investment Management LLC lifted its position in Citigroup by 21.4% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,700 shares of the financial services provider’s stock worth $114,000 after buying an additional 300 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. acquired a new position in Citigroup during the 2nd quarter worth about $123,000. 78.61% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently issued reports on C shares. Wells Fargo & Co reiterated a “buy” rating on shares of Citigroup in a research report on Monday, October 2nd. Royal Bank of Canada reiterated a “buy” rating and set a $75.00 price target on shares of Citigroup in a research report on Wednesday, September 27th. Credit Suisse Group restated a “buy” rating and set a $83.00 target price (up from $73.00) on shares of Citigroup in a research report on Monday, October 9th. They noted that the move was a valuation call. Nomura upped their target price on shares of Citigroup from $80.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, October 13th. Finally, BidaskClub downgraded shares of Citigroup from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $79.30.
Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.09. The business had revenue of $17.26 billion for the quarter, compared to the consensus estimate of $17.23 billion. Citigroup had a negative net margin of 7.05% and a positive return on equity of 7.60%. Citigroup’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period last year, the company posted $1.14 EPS. research analysts predict that Citigroup Inc will post 6.33 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Monday, February 5th will be given a $0.32 dividend. The ex-dividend date is Friday, February 2nd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.63%. Citigroup’s dividend payout ratio is 23.06%.
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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