Douglas Lane & Associates LLC Acquires 47,743 Shares of Citigroup Inc. (C)
Douglas Lane & Associates LLC increased its holdings in shares of Citigroup Inc. (NYSE:C) by 507.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 57,144 shares of the financial services provider’s stock after acquiring an additional 47,743 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Citigroup were worth $4,157,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in the stock. Vantage Financial Partners Ltd. Inc. acquired a new stake in Citigroup during the second quarter worth about $1,034,000. Catamount Wealth Management acquired a new stake in Citigroup during the second quarter worth about $100,000. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its stake in Citigroup by 206.0% during the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,530 shares of the financial services provider’s stock worth $102,000 after buying an additional 1,030 shares in the last quarter. Balentine LLC grew its stake in Citigroup by 20.2% during the second quarter. Balentine LLC now owns 1,617 shares of the financial services provider’s stock worth $108,000 after buying an additional 272 shares in the last quarter. Finally, Acrospire Investment Management LLC grew its stake in Citigroup by 21.4% during the second quarter. Acrospire Investment Management LLC now owns 1,700 shares of the financial services provider’s stock worth $114,000 after buying an additional 300 shares in the last quarter. 78.59% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on C shares. ValuEngine upgraded shares of Citigroup from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Credit Suisse Group reiterated a “buy” rating and set a $73.00 price objective on shares of Citigroup in a research note on Wednesday, September 13th. Raymond James Financial started coverage on shares of Citigroup in a research note on Tuesday, October 31st. They set a “hold” rating on the stock. Morgan Stanley increased their price objective on shares of Citigroup from $73.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, October 13th. Finally, Jefferies Group set a $81.00 price objective on shares of Citigroup and gave the stock a “neutral” rating in a research note on Thursday, October 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $75.83.
Shares of Citigroup Inc. (NYSE C) opened at $75.71 on Friday. Citigroup Inc. has a one year low of $55.23 and a one year high of $77.92. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.11. The firm has a market cap of $198,247.28, a P/E ratio of 14.45, a PEG ratio of 1.47 and a beta of 1.55.
Citigroup (NYSE:C) last issued its quarterly earnings data on Thursday, October 12th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.10. The business had revenue of $18.17 billion during the quarter, compared to analyst estimates of $17.87 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.48%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business earned $1.24 EPS. sell-side analysts anticipate that Citigroup Inc. will post 5.31 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Monday, November 6th were issued a $0.32 dividend. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 1.69%. Citigroup’s dividend payout ratio (DPR) is presently 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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