Schmidt P J Investment Management Inc. Grows Stake in Citigroup Inc. (C)
Schmidt P J Investment Management Inc. lifted its position in Citigroup Inc. (NYSE:C) by 7.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,647 shares of the financial services provider’s stock after buying an additional 2,581 shares during the period. Schmidt P J Investment Management Inc.’s holdings in Citigroup were worth $2,811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in the company. Vantage Financial Partners Ltd. Inc. purchased a new position in Citigroup during the second quarter valued at $1,034,000. Catamount Wealth Management purchased a new position in Citigroup during the second quarter valued at $100,000. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its position in Citigroup by 206.0% during the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,530 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 1,030 shares in the last quarter. Balentine LLC lifted its position in Citigroup by 20.2% during the second quarter. Balentine LLC now owns 1,617 shares of the financial services provider’s stock valued at $108,000 after purchasing an additional 272 shares in the last quarter. Finally, Acrospire Investment Management LLC lifted its position in Citigroup by 21.4% during the second quarter. Acrospire Investment Management LLC now owns 1,700 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 78.59% of the company’s stock.
Shares of Citigroup Inc. (C) traded up $0.01 during mid-day trading on Monday, hitting $75.72. The stock had a trading volume of 1,747,332 shares, compared to its average volume of 16,881,119. Citigroup Inc. has a 1 year low of $55.23 and a 1 year high of $77.92. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $200,180.00, a PE ratio of 14.59, a price-to-earnings-growth ratio of 1.48 and a beta of 1.55.
Citigroup (NYSE:C) last issued its earnings results on Thursday, October 12th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $17.87 billion. During the same period in the previous year, the firm posted $1.24 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. research analysts forecast that Citigroup Inc. will post 5.31 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Monday, November 6th were issued a $0.32 dividend. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $1.28 annualized dividend and a dividend yield of 1.69%. Citigroup’s dividend payout ratio (DPR) is 24.66%.
A number of research firms have commented on C. Nomura raised their price target on Citigroup to $84.00 and gave the company a “buy” rating in a report on Monday. Royal Bank Of Canada reissued a “buy” rating and set a $75.00 price target on shares of Citigroup in a report on Wednesday, September 27th. Societe Generale raised Citigroup from a “sell” rating to a “hold” rating and raised their price target for the company from $63.00 to $70.00 in a report on Monday, September 11th. ValuEngine raised Citigroup from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Finally, Keefe, Bruyette & Woods set a $75.00 price target on Citigroup and gave the company a “buy” rating in a report on Sunday, August 13th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $75.97.
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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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