Citigroup Inc. (C) is Cornerstone Investment Partners LLC’s 6th Largest Position
Cornerstone Investment Partners LLC decreased its position in Citigroup Inc. (NYSE:C) by 25.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,012,942 shares of the financial services provider’s stock after selling 698,429 shares during the period. Citigroup accounts for 4.1% of Cornerstone Investment Partners LLC’s holdings, making the stock its 6th largest position. Cornerstone Investment Partners LLC’s holdings in Citigroup were worth $95,071,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of C. BNP Paribas Arbitrage SA increased its position in Citigroup by 6.5% in the second quarter. BNP Paribas Arbitrage SA now owns 12,083,668 shares of the financial services provider’s stock worth $206,341,000 after buying an additional 738,298 shares in the last quarter. Boston Advisors LLC purchased a new stake in shares of Citigroup during the second quarter valued at $10,755,000. Sanders Capital LLC increased its stake in shares of Citigroup by 0.6% in the second quarter. Sanders Capital LLC now owns 16,006,239 shares of the financial services provider’s stock valued at $693,526,000 after buying an additional 89,414 shares during the period. Chevy Chase Trust Holdings Inc. increased its stake in shares of Citigroup by 5.1% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 3,286,586 shares of the financial services provider’s stock valued at $155,226,000 after buying an additional 159,146 shares during the period. Finally, BlackRock Fund Advisors increased its stake in shares of Citigroup by 1.4% in the second quarter. BlackRock Fund Advisors now owns 34,452,658 shares of the financial services provider’s stock valued at $1,460,448,000 after buying an additional 476,584 shares during the period. 70.81% of the stock is currently owned by institutional investors and hedge funds.
Shares of Citigroup Inc. (NYSE:C) opened at 56.39 on Thursday. The stock has a market capitalization of $160.70 billion, a P/E ratio of 12.26 and a beta of 1.74. The stock has a 50 day moving average of $51.32 and a 200-day moving average of $46.71. Citigroup Inc. has a 1-year low of $34.52 and a 1-year high of $56.83.
Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, October 14th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.08. The business earned $17.80 billion during the quarter, compared to the consensus estimate of $17.32 billion. Citigroup had a net margin of 17.58% and a return on equity of 7.04%. The business’s revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.31 EPS. Equities research analysts predict that Citigroup Inc. will post $4.70 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 23rd. Stockholders of record on Monday, November 7th were issued a $0.16 dividend. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.13%. Citigroup’s dividend payout ratio is presently 13.91%.
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Several research firms have recently commented on C. Vetr downgraded shares of Citigroup from a “buy” rating to a “hold” rating and set a $46.29 price objective for the company. in a research note on Monday, August 8th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Citigroup in a research note on Tuesday, August 16th. TheStreet upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a research note on Tuesday, August 23rd. Nomura lowered their price objective on shares of Citigroup from $57.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, September 7th. Finally, Societe Generale downgraded shares of Citigroup from a “hold” rating to a “sell” rating in a research note on Tuesday, September 13th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and sixteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $56.72.
Citigroup Inc (Citi) is a financial services holding company. The Company’s 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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