Citigroup Inc. (C) Shares Sold by Pictet Asset Management Ltd.
Pictet Asset Management Ltd. trimmed its stake in shares of Citigroup Inc. (NYSE:C) by 0.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,935,424 shares of the financial services provider’s stock after selling 10,993 shares during the quarter. Pictet Asset Management Ltd. owned approximately 0.07% of Citigroup worth $140,783,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Citigroup by 2,718.7% in the 1st quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock valued at $11,749,573,000 after acquiring an additional 189,447,104 shares during the period. Vanguard Group Inc. increased its position in Citigroup by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 183,198,941 shares of the financial services provider’s stock valued at $10,958,960,000 after acquiring an additional 4,391,347 shares during the period. FMR LLC increased its position in Citigroup by 3.8% in the 2nd quarter. FMR LLC now owns 109,804,452 shares of the financial services provider’s stock valued at $7,343,721,000 after acquiring an additional 4,061,637 shares during the period. Bank of New York Mellon Corp increased its position in Citigroup by 6.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 46,110,561 shares of the financial services provider’s stock valued at $3,083,874,000 after acquiring an additional 2,943,282 shares during the period. Finally, Harris Associates L P increased its position in Citigroup by 0.5% in the 2nd quarter. Harris Associates L P now owns 41,350,951 shares of the financial services provider’s stock valued at $2,765,551,000 after acquiring an additional 221,171 shares during the period. Institutional investors and hedge funds own 78.59% of the company’s stock.
A number of equities research analysts have recently commented on the stock. Vetr raised shares of Citigroup from a “hold” rating to a “buy” rating and set a $80.92 price objective on the stock in a research note on Monday, December 4th. Credit Suisse Group reaffirmed a “buy” rating and issued a $83.00 price objective on shares of Citigroup in a research note on Tuesday. Nomura upped their price objective on shares of Citigroup to $84.00 and gave the company a “buy” rating in a research note on Monday. Stifel Nicolaus reaffirmed a “hold” rating on shares of Citigroup in a research note on Monday, October 9th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $65.00 price objective on shares of Citigroup in a research note on Friday, October 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Citigroup presently has a consensus rating of “Buy” and a consensus target price of $75.97.
Citigroup Inc. (C) opened at $75.14 on Thursday. The stock has a market cap of $201,340.75, a price-to-earnings ratio of 14.67, a P/E/G ratio of 1.49 and a beta of 1.55. Citigroup Inc. has a 12 month low of $55.23 and a 12 month high of $77.92. 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 (NYSE:C) last released its quarterly earnings data on Thursday, October 12th. The financial services provider reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.10. Citigroup had a net margin of 18.11% and a return on equity of 7.48%. The firm had revenue of $18.17 billion for the quarter, compared to analyst estimates of $17.87 billion. During the same period last year, the firm earned $1.24 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. analysts predict that Citigroup Inc. will post 5.3 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Monday, November 6th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Friday, November 3rd. Citigroup’s dividend payout ratio (DPR) is 24.66%.
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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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