Rench Wealth Management Inc. increased its stake in Citigroup Inc. (NYSE:C) by 0.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,144 shares of the financial services provider’s stock after buying an additional 12 shares during the quarter. Rench Wealth Management Inc.’s holdings in Citigroup were worth $344,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. increased its stake in Citigroup by 2,718.7% in the first quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock worth $11,749,573,000 after purchasing an additional 189,447,104 shares during the period. FMR LLC increased its stake in Citigroup by 18.2% in the first quarter. FMR LLC now owns 105,742,815 shares of the financial services provider’s stock worth $6,325,535,000 after purchasing an additional 16,257,931 shares during the period. Lazard Asset Management LLC increased its stake in Citigroup by 109.5% in 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 purchasing an additional 4,856,866 shares during the period. Pioneer Investment Management Inc. increased its stake in Citigroup by 2,317.8% in 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 purchasing an additional 4,795,145 shares during the period. Finally, Vanguard Group Inc. increased its stake in Citigroup by 2.5% in 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 purchasing an additional 4,391,347 shares during the period. Institutional investors own 78.15% of the company’s stock.
Several brokerages have recently commented on C. J P Morgan Chase & Co set a $73.50 price target on Citigroup and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Vetr lowered Citigroup from a “strong-buy” rating to a “buy” rating and set a $76.22 price target on the stock. in a research note on Monday, July 31st. Keefe, Bruyette & Woods set a $75.00 price target on Citigroup and gave the company a “buy” rating in a research note on Sunday, August 13th. BidaskClub upgraded Citigroup from a “hold” rating to a “buy” rating in a research note on Thursday, September 21st. Finally, Credit Suisse Group restated a “buy” rating and set a $73.00 price target on shares of Citigroup in a research note on Wednesday, September 13th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Citigroup has a consensus rating of “Buy” and an average target price of $74.77.
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Shares of Citigroup Inc. (C) opened at $71.53 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.11. Citigroup Inc. has a twelve month low of $53.71 and a twelve month high of $76.14. The company has a market capitalization of $190,341.69, a PE ratio of 13.87, a P/E/G ratio of 1.41 and a beta of 1.57.
Citigroup (NYSE:C) last released its earnings results on Thursday, October 12th. The financial services provider reported $1.42 EPS for the quarter, topping the Zacks’ 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 during the quarter, compared to the consensus estimate of $17.87 billion. During the same quarter in the previous year, the company posted $1.24 earnings per share. The company’s revenue was up 2.3% compared to the same quarter last year. analysts expect that Citigroup Inc. will post 5.31 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Monday, November 6th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Friday, November 3rd. Citigroup’s dividend payout ratio (DPR) is 24.66%.
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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