Pinebridge Investments L.P. Has $108.36 Million Holdings in Citigroup Inc. (C)
Pinebridge Investments L.P. decreased its position in Citigroup Inc. (NYSE:C) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,620,146 shares of the financial services provider’s stock after selling 47,594 shares during the quarter. Citigroup accounts for about 2.8% of Pinebridge Investments L.P.’s investment portfolio, making the stock its largest holding. Pinebridge Investments L.P. owned approximately 0.06% of Citigroup worth $108,355,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the business. BlackRock Inc. grew its position in shares of Citigroup by 2,718.7% during 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 in the last quarter. FMR LLC grew its position in shares of Citigroup by 18.2% during the first quarter. FMR LLC now owns 105,742,815 shares of the financial services provider’s stock worth $6,325,535,000 after buying an additional 16,257,931 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of Citigroup by 109.5% during 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 in the last quarter. Pioneer Investment Management Inc. grew its position in shares of Citigroup by 2,317.8% during 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 in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Citigroup by 2.5% during the first quarter. Vanguard Group Inc. now owns 183,198,941 shares of the financial services provider’s stock worth $10,958,960,000 after buying an additional 4,391,347 shares in the last quarter. 78.15% of the stock is owned by institutional investors.
Citigroup Inc. (NYSE:C) opened at $71.99 on Tuesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.01 and a current ratio of 1.01. Citigroup Inc. has a 12 month low of $53.00 and a 12 month high of $76.14. The firm has a market capitalization of $191,029.14, a PE ratio of 13.92, a price-to-earnings-growth ratio of 1.42 and a beta of 1.57.
Citigroup (NYSE:C) last announced its quarterly earnings results on Thursday, October 12th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.10. The business had revenue of $18.17 billion during the quarter, compared to analyst estimates of $17.87 billion. Citigroup had a return on equity of 7.48% and a net margin of 18.11%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.24 EPS. equities research analysts forecast that Citigroup Inc. will post 5.29 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Monday, November 6th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $1.28 annualized dividend and a dividend yield of 1.78%. Citigroup’s dividend payout ratio is 24.66%.
A number of research firms have commented on C. HSBC Holdings plc set a $74.00 price objective on shares of Citigroup and gave the stock a “hold” rating in a report on Friday, August 11th. Societe Generale raised shares of Citigroup from a “sell” rating to a “hold” rating and lifted their price objective for the stock from $63.00 to $70.00 in a report on Monday, September 11th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Citigroup in a report on Wednesday, September 27th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $76.00 price objective (up previously from $70.00) on shares of Citigroup in a report on Wednesday, July 26th. Finally, Nomura lifted their price objective on shares of Citigroup from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $74.77.
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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.
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