Fisher Asset Management LLC Buys 1,832,819 Shares of Citigroup Inc. (NYSE:C)

Fisher Asset Management LLC raised its stake in shares of Citigroup Inc. (NYSE:C) by 8.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 24,751,813 shares of the company’s stock after buying an additional 1,832,819 shares during the quarter. Fisher Asset Management LLC’s holdings in Citigroup were worth $1,273,233,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in C. Orion Capital Management LLC bought a new position in Citigroup during the fourth quarter valued at approximately $26,000. Carmel Capital Partners LLC bought a new stake in Citigroup in the third quarter worth $25,000. Rakuten Securities Inc. bought a new position in shares of Citigroup during the fourth quarter valued at about $35,000. AlphaMark Advisors LLC boosted its holdings in Citigroup by 75.0% during the 3rd quarter. AlphaMark Advisors LLC now owns 700 shares of the company’s stock valued at $29,000 after acquiring an additional 300 shares during the period. Finally, Tennessee Valley Asset Management Partners purchased a new position in Citigroup in the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

C traded up $0.01 during trading on Thursday, reaching $61.36. 3,612,319 shares of the company traded hands, compared to its average volume of 16,700,861. The firm has a fifty day simple moving average of $59.48 and a 200 day simple moving average of $52.41. Citigroup Inc. has a 12-month low of $38.17 and a 12-month high of $63.90. The company has a market cap of $117.52 billion, a P/E ratio of 18.15, a PEG ratio of 0.92 and a beta of 1.49. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.95 and a current ratio of 0.95.

Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, April 12th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.29. The business had revenue of $21.10 billion for the quarter, compared to the consensus estimate of $20.46 billion. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.86 earnings per share. On average, equities analysts forecast that Citigroup Inc. will post 5.97 EPS for the current year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be paid a $0.53 dividend. The ex-dividend date is Friday, May 3rd. This represents a $2.12 annualized dividend and a yield of 3.46%. Citigroup’s dividend payout ratio (DPR) is presently 62.72%.

Analyst Ratings Changes

A number of equities research analysts recently commented on C shares. StockNews.com upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a report on Tuesday, March 19th. Wolfe Research upgraded shares of Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 price objective for the company in a report on Wednesday, January 3rd. Keefe, Bruyette & Woods lifted their target price on shares of Citigroup from $54.00 to $66.00 and gave the company a “market perform” rating in a research note on Friday, April 5th. HSBC raised their price objective on shares of Citigroup from $61.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Citigroup in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and an average target price of $62.85.

Citigroup Company Profile

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.