Envestnet Asset Management Inc. Acquires 29,053 Shares of Citigroup Inc (C)
Envestnet Asset Management Inc. boosted its holdings in Citigroup Inc (NYSE:C) by 7.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 426,861 shares of the financial services provider’s stock after purchasing an additional 29,053 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Citigroup were worth $31,049,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in C. Chevy Chase Trust Holdings Inc. lifted its stake in shares of Citigroup by 1.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 3,438,264 shares of the financial services provider’s stock worth $229,951,000 after buying an additional 48,241 shares in the last quarter. Randolph Co Inc lifted its stake in shares of Citigroup by 0.3% in the second quarter. Randolph Co Inc now owns 144,425 shares of the financial services provider’s stock worth $9,659,000 after buying an additional 400 shares in the last quarter. Trust Co. of Oklahoma lifted its stake in shares of Citigroup by 3.2% in the second quarter. Trust Co. of Oklahoma now owns 31,373 shares of the financial services provider’s stock worth $2,098,000 after buying an additional 964 shares in the last quarter. Mn Services Vermogensbeheer B.V. lifted its stake in shares of Citigroup by 494.2% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 452,581 shares of the financial services provider’s stock worth $30,269,000 after buying an additional 376,416 shares in the last quarter. Finally, Abner Herrman & Brock LLC lifted its stake in shares of Citigroup by 0.9% in the second quarter. Abner Herrman & Brock LLC now owns 211,631 shares of the financial services provider’s stock worth $14,154,000 after buying an additional 1,922 shares in the last quarter. Institutional investors and hedge funds own 78.61% of the company’s stock.
Several research analysts have recently issued reports on C shares. Atlantic Securities reiterated an “overweight” rating and issued a $85.00 target price (up previously from $75.00) on shares of Citigroup in a research note on Tuesday, September 26th. Bank of America reiterated a “neutral” rating on shares of Citigroup in a research note on Wednesday, October 11th. ValuEngine upgraded shares of Citigroup from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Barclays increased their price objective on shares of Citigroup from $76.00 to $93.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Finally, Raymond James Financial assumed coverage on shares of Citigroup in a research report on Tuesday, October 31st. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Citigroup has an average rating of “Buy” and an average target price of $79.30.
Citigroup (NYSE:C) last announced its earnings results on Tuesday, January 16th. The financial services provider reported $1.28 EPS for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.09. Citigroup had a negative net margin of 7.05% and a positive return on equity of 7.60%. The business had revenue of $17.26 billion during the quarter, compared to analysts’ expectations of $17.23 billion. During the same period in the prior year, the company earned $1.14 earnings per share. The firm’s revenue was up 1.4% on a year-over-year basis. equities analysts expect that Citigroup Inc will post 6.33 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Monday, February 5th will be issued a dividend of $0.32 per share. The ex-dividend date is Friday, February 2nd. This represents a $1.28 dividend on an annualized basis and a yield of 1.63%. Citigroup’s dividend payout ratio is currently -41.29%.
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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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