Iberiabank Corp Boosts Holdings in Citigroup Inc (C)
Iberiabank Corp boosted its holdings in shares of Citigroup Inc (NYSE:C) by 127.6% during the third quarter, Holdings Channel reports. The fund owned 8,197 shares of the financial services provider’s stock after purchasing an additional 4,596 shares during the quarter. Iberiabank Corp’s holdings in Citigroup were worth $593,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Lazard Asset Management LLC boosted its stake in shares of Citigroup by 109.5% in the 2nd quarter. Lazard Asset Management LLC now owns 9,292,727 shares of the financial services provider’s stock valued at $621,497,000 after purchasing an additional 4,856,866 shares during the last quarter. PointState Capital LP bought a new stake in shares of Citigroup in the 2nd quarter valued at $321,322,000. Pioneer Investment Management Inc. boosted its stake in shares of Citigroup by 2,317.8% in the 2nd quarter. Pioneer Investment Management Inc. now owns 5,002,029 shares of the financial services provider’s stock valued at $334,536,000 after purchasing an additional 4,795,145 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Citigroup by 42.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,815,133 shares of the financial services provider’s stock valued at $990,836,000 after purchasing an additional 4,413,329 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of 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 purchasing an additional 4,061,637 shares during the last quarter. 78.54% of the stock is currently owned by hedge funds and other institutional investors.
Citigroup Inc (C) opened at $76.84 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.01 and a current ratio of 1.01. Citigroup Inc has a 1 year low of $55.23 and a 1 year high of $77.92. The stock has a market cap of $203,165.09, a price-to-earnings ratio of 14.81, a P/E/G ratio of 1.23 and a beta of 1.56.
Citigroup (NYSE:C) last released its earnings results on Thursday, October 12th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $18.17 billion for the quarter, compared to the consensus estimate of $17.87 billion. During the same quarter in the previous year, the company earned $1.24 EPS. Citigroup’s quarterly revenue was up 2.3% compared to the same quarter last year. research analysts expect that Citigroup Inc will post 5.25 earnings per share for the current fiscal year.
C has been the topic of a number of analyst reports. Credit Suisse Group reaffirmed a “buy” rating and issued a $83.00 price objective (up from $73.00) on shares of Citigroup in a research note on Monday, October 9th. They noted that the move was a valuation call. BidaskClub raised shares of Citigroup from a “hold” rating to a “buy” rating in a research note on Thursday, September 21st. Wells Fargo & Co reaffirmed a “buy” rating on shares of Citigroup in a research note on Monday, October 2nd. Royal Bank of Canada reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Citigroup in a research note on Wednesday, September 27th. Finally, Nomura upped their price objective on shares of Citigroup from $80.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Citigroup presently has a consensus rating of “Buy” and an average target price of $77.92.
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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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