IFM Investors Pty Ltd boosted its stake in Citigroup Inc (NYSE:C) by 11.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 174,540 shares of the financial services provider’s stock after buying an additional 18,029 shares during the period. IFM Investors Pty Ltd’s holdings in Citigroup were worth $7,524,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its stake in Citigroup by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 35,615,758 shares of the financial services provider’s stock valued at $1,819,963,000 after buying an additional 1,711,353 shares in the last quarter. Sanders Capital LLC boosted its stake in Citigroup by 52.0% in the second quarter. Sanders Capital LLC now owns 19,635,229 shares of the financial services provider’s stock worth $1,108,724,000 after purchasing an additional 6,714,645 shares in the last quarter. Morgan Stanley boosted its stake in Citigroup by 4.6% in the first quarter. Morgan Stanley now owns 14,670,219 shares of the financial services provider’s stock worth $617,909,000 after purchasing an additional 650,874 shares in the last quarter. Nordea Investment Management AB boosted its stake in Citigroup by 123.8% in the second quarter. Nordea Investment Management AB now owns 13,113,214 shares of the financial services provider’s stock worth $658,414,000 after purchasing an additional 7,254,912 shares in the last quarter. Finally, Public Investment Fund acquired a new position in Citigroup in the first quarter worth $521,979,000. 75.57% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Gary M. Reiner sold 485 shares of the company’s stock in a transaction dated Wednesday, October 14th. The stock was sold at an average price of $102.74, for a total transaction of $49,828.90. Following the completion of the transaction, the director now directly owns 4,462 shares of the company’s stock, valued at $458,425.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is owned by corporate insiders.
NYSE:C traded down $0.42 on Friday, reaching $43.19. The company’s stock had a trading volume of 26,007,087 shares, compared to its average volume of 25,605,537. Citigroup Inc has a 1-year low of $32.00 and a 1-year high of $83.11. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $89.92 billion, a PE ratio of 8.47, a PEG ratio of 1.24 and a beta of 1.78. The business’s 50-day moving average price is $46.81 and its two-hundred day moving average price is $48.19.
Citigroup (NYSE:C) last posted its quarterly earnings data on Monday, October 19th. The financial services provider reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.39. The company had revenue of $17.30 billion during the quarter, compared to analysts’ expectations of $17.18 billion. Citigroup had a return on equity of 7.40% and a net margin of 13.64%. Citigroup’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.97 earnings per share. As a group, sell-side analysts expect that Citigroup Inc will post 3.52 EPS for the current year.
A number of equities analysts have commented on the company. Oppenheimer reissued a “buy” rating and issued a $100.00 price objective on shares of Citigroup in a research note on Thursday, October 1st. Morgan Stanley reduced their price objective on Citigroup from $61.00 to $58.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 15th. Barclays reduced their price objective on Citigroup from $78.00 to $63.00 and set an “overweight” rating on the stock in a research note on Wednesday. ValuEngine lowered Citigroup from a “hold” rating to a “sell” rating in a research note on Friday, August 21st. Finally, JPMorgan Chase & Co. downgraded Citigroup from an “overweight” rating to a “neutral” rating and set a $57.50 target price for the company. in a research report on Thursday, October 8th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eighteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $69.40.
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).
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