Northstar Advisory Group LLC Buys Shares of 20,915 Citigroup Inc. $C

Northstar Advisory Group LLC purchased a new stake in shares of Citigroup Inc. (NYSE:C) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 20,915 shares of the company’s stock, valued at approximately $2,123,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in Citigroup in the second quarter valued at about $2,455,929,000. Canada Pension Plan Investment Board lifted its stake in shares of Citigroup by 47.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 4,334,407 shares of the company’s stock worth $368,945,000 after purchasing an additional 1,393,865 shares during the period. Natixis lifted its stake in shares of Citigroup by 382.7% in the 2nd quarter. Natixis now owns 1,523,782 shares of the company’s stock worth $129,704,000 after purchasing an additional 1,208,089 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Citigroup by 63.3% in the second quarter. Robeco Institutional Asset Management B.V. now owns 3,085,496 shares of the company’s stock worth $262,637,000 after buying an additional 1,195,950 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Citigroup by 0.7% during the second quarter. Vanguard Group Inc. now owns 165,851,890 shares of the company’s stock valued at $14,117,313,000 after buying an additional 1,148,451 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Up 1.1%

NYSE C opened at $114.79 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 1.63. Citigroup Inc. has a 52 week low of $55.51 and a 52 week high of $124.17. The firm has a market capitalization of $205.39 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 0.73 and a beta of 1.18. The company has a fifty day moving average of $112.37 and a two-hundred day moving average of $102.44.

Citigroup (NYSE:C) last released its earnings results on Wednesday, January 14th. The company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.16. Citigroup had a net margin of 8.50% and a return on equity of 8.28%. The firm had revenue of $19.87 billion during the quarter, compared to analyst estimates of $20.99 billion. During the same quarter last year, the business earned $1.34 EPS. The business’s revenue was up 2.1% on a year-over-year basis. On average, analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 2nd will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Monday, February 2nd. Citigroup’s payout ratio is 34.43%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. TD Cowen reiterated a “hold” rating on shares of Citigroup in a research report on Wednesday, January 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $121.00 target price on shares of Citigroup in a report on Thursday, January 15th. UBS Group reissued a “neutral” rating and set a $132.00 price target on shares of Citigroup in a report on Thursday, January 15th. Zacks Research upgraded Citigroup from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. raised Citigroup from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $107.00 to $124.00 in a research report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $125.56.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Neutral Sentiment: Bulking up banker pay may help retention but raises costs — Citi joined UBS and Morgan Stanley in boosting investment-banker bonuses by ~20%, supporting deal coverage and revenue generation but increasing compensation expense that can compress margins if revenues don’t keep pace. UBS, Citigroup, Morgan Stanley boost bonus for investment bankers by 20%
• Negative Sentiment: Citi warns of a potential market “volatility event” from rising rates — Management/public commentary flagged the risk that rising interest rates could trigger a market volatility event, which would pressure trading revenue, increase mark-to-market losses and potentially force higher risk reserves. For a bank with sizable markets and trading operations, heightened volatility can swing quarterly results and raise capital/risk-management scrutiny. Citigroup is worried about a ‘volatility event’ triggered by rising rates
• Negative Sentiment: Ex-executive sues Citi over handling of sexual-harassment claims — A former wealth-management executive has filed suit alleging Citi mishandled harassment claims. That raises potential legal costs, disclosure/settlement risk and reputational damage that can affect client relationships or recruitment in wealth and private-banking businesses. Monitor filings for potential financial exposure and any management response. Former Citigroup executive sues bank over handling of sexual harassment claims

Citigroup Profile

Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.

Citi’s principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.