Sumitomo Mitsui Asset Management Company LTD Lowers Holdings in Citigroup Inc. (C)
Sumitomo Mitsui Asset Management Company LTD lessened its position in shares of Citigroup Inc. (NYSE:C) by 4.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 210,525 shares of the financial services provider’s stock after selling 9,638 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Citigroup were worth $15,313,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of Citigroup by 2,718.7% during 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 in the last quarter. Lazard Asset Management LLC lifted its stake in shares of Citigroup by 109.5% during 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 in the last quarter. PointState Capital LP acquired a new position in shares of Citigroup during the second quarter worth about $321,322,000. Pioneer Investment Management Inc. lifted its stake in shares of Citigroup by 2,317.8% during 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 in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Citigroup by 42.4% during the second quarter. The Manufacturers Life Insurance Company now owns 14,815,133 shares of the financial services provider’s stock worth $990,836,000 after purchasing an additional 4,413,329 shares in the last quarter. 78.59% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have commented on C. Raymond James Financial began coverage on Citigroup in a research note on Tuesday, October 31st. They set a “hold” rating on the stock. Morgan Stanley boosted their price objective on Citigroup from $73.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, October 13th. BidaskClub upgraded Citigroup from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 10th. Deutsche Bank reiterated a “hold” rating and issued a $67.00 price target (up previously from $61.00) on shares of Citigroup in a research note on Tuesday, September 26th. Finally, Societe Generale cut Citigroup from a “hold” rating to a “sell” rating and set a $65.00 price target on the stock. in a research note on Monday, October 16th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $76.54.
Citigroup Inc. (NYSE C) opened at $73.92 on Friday. The company has a market capitalization of $198,670.31, a P/E ratio of 14.48, a PEG ratio of 1.47 and a beta of 1.55. Citigroup Inc. has a fifty-two week low of $55.23 and a fifty-two week high of $77.92. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.11.
Citigroup (NYSE:C) last posted its earnings results on Thursday, October 12th. The financial services provider reported $1.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.10. The company had revenue of $18.17 billion during the quarter, compared to analyst estimates of $17.87 billion. Citigroup had a return on equity of 7.48% and a net margin of 18.11%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.24 earnings per share. sell-side analysts predict that Citigroup Inc. will post 5.3 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Monday, November 6th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Friday, November 3rd. Citigroup’s dividend payout ratio (DPR) is presently 24.66%.
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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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