Prudential PLC Acquires 860,564 Shares of Citigroup Inc. (C)
Prudential PLC increased its holdings in Citigroup Inc. (NYSE:C) by 22.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,707,283 shares of the financial services provider’s stock after buying an additional 860,564 shares during the period. Citigroup comprises approximately 1.0% of Prudential PLC’s investment portfolio, making the stock its 15th biggest holding. Prudential PLC owned about 0.17% of Citigroup worth $314,823,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of C. BlackRock Inc. grew its holdings in Citigroup by 2,718.7% in the first quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock worth $11,749,573,000 after purchasing an additional 189,447,104 shares during the last quarter. FMR LLC grew its holdings in Citigroup by 18.2% in the first quarter. FMR LLC now owns 105,742,815 shares of the financial services provider’s stock worth $6,325,535,000 after purchasing an additional 16,257,931 shares during the last quarter. Lazard Asset Management LLC grew its holdings in Citigroup by 109.5% in the second quarter. Lazard Asset Management LLC now owns 9,292,727 shares of the financial services provider’s stock worth $621,497,000 after purchasing an additional 4,856,866 shares during the last quarter. Pioneer Investment Management Inc. grew its holdings in Citigroup by 2,317.8% in the second quarter. Pioneer Investment Management Inc. now owns 5,002,029 shares of the financial services provider’s stock worth $334,536,000 after purchasing an additional 4,795,145 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Citigroup by 2.5% in the first quarter. Vanguard Group Inc. now owns 183,198,941 shares of the financial services provider’s stock worth $10,958,960,000 after purchasing an additional 4,391,347 shares during the last quarter. 77.98% of the stock is owned by institutional investors.
Shares of Citigroup Inc. (NYSE C) opened at $72.02 on Friday. Citigroup Inc. has a 1-year low of $55.23 and a 1-year high of $76.14. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $191,055.59, a price-to-earnings ratio of 13.92, a price-to-earnings-growth ratio of 1.41 and a beta of 1.57.
Citigroup (NYSE:C) last posted its quarterly earnings results on Thursday, October 12th. The financial services provider reported $1.42 EPS 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 company had revenue of $18.17 billion for the quarter, compared to analyst estimates of $17.87 billion. During the same period in the prior year, the company earned $1.24 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. equities research analysts anticipate that Citigroup Inc. will post 5.31 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Monday, November 6th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Friday, November 3rd. Citigroup’s payout ratio is 24.66%.
A number of equities research analysts have recently weighed in on the stock. Atlantic Securities reissued an “overweight” rating and set a $85.00 price objective (up from $75.00) on shares of Citigroup in a report on Tuesday, September 26th. Bank of America Corporation reissued a “neutral” rating on shares of Citigroup in a report on Wednesday, October 11th. Vetr raised shares of Citigroup from a “buy” rating to a “strong-buy” rating and set a $76.34 price objective on the stock in a report on Thursday, August 3rd. BMO Capital Markets reissued a “hold” rating and set a $65.00 price objective on shares of Citigroup in a report on Friday, October 6th. Finally, Raymond James Financial, Inc. assumed coverage on shares of Citigroup in a report on Tuesday, October 31st. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. Citigroup currently has an average rating of “Buy” and a consensus price target of $75.61.
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Citigroup Company Profile
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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