Picton Mahoney Asset Management bought a new stake in Citigroup Inc. (NYSE:C) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 104,900 shares of the financial services provider’s stock, valued at approximately $7,014,000.
Several other institutional investors have also made changes to their positions in C. BlackRock Inc. grew 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 buying an additional 189,447,104 shares during the last quarter. Vanguard Group Inc. grew 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 buying an additional 4,391,347 shares during the last quarter. FMR LLC grew 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 buying an additional 4,061,637 shares during the last quarter. Bank of New York Mellon Corp grew 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 buying an additional 2,943,282 shares during the last quarter. Finally, Harris Associates L P grew 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 buying an additional 221,171 shares during the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.
Citigroup Inc. (C) opened at $72.38 on Wednesday. Citigroup Inc. has a one year low of $55.23 and a one year high of $76.14. The firm has a market cap of $190,500.34, a PE ratio of 13.88, a P/E/G ratio of 1.41 and a beta of 1.57. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.11.
Citigroup (NYSE:C) last announced its earnings results on Thursday, October 12th. The financial services provider reported $1.42 earnings per share for the quarter, beating the consensus estimate 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 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 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. equities analysts expect that Citigroup Inc. will post 5.31 earnings per share 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 paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Friday, November 3rd. Citigroup’s payout ratio is 24.66%.
C has been the topic of a number of analyst reports. Atlantic Securities reiterated an “overweight” rating and issued a $85.00 price objective (up from $75.00) on shares of Citigroup in a research report on Tuesday, September 26th. Bank of America Corporation reiterated a “neutral” rating on shares of Citigroup in a research report on Wednesday, October 11th. Vetr upgraded shares of Citigroup from a “buy” rating to a “strong-buy” rating and set a $76.34 price objective on the stock in a research report on Thursday, August 3rd. BMO Capital Markets reiterated a “hold” rating and issued a $65.00 price objective on shares of Citigroup in a research report on Friday, October 6th. Finally, Raymond James Financial, Inc. initiated coverage on shares of Citigroup in a research report on Tuesday, October 31st. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $75.61.
ILLEGAL ACTIVITY NOTICE: This report was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this report on another publication, it was stolen and reposted in violation of U.S. & international copyright laws. The correct version of this report can be read at https://ledgergazette.com/2017/11/22/picton-mahoney-asset-management-invests-7-01-million-in-citigroup-inc-c.html.
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.
Want to see what other hedge funds are holding C? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citigroup Inc. (NYSE:C).
Receive News & Ratings for Citigroup Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citigroup Inc. and related companies with MarketBeat.com's FREE daily email newsletter.