Citigroup Inc. $C Shares Bought by Pitcairn Co.

Pitcairn Co. lifted its stake in shares of Citigroup Inc. (NYSE:C) by 31.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,906 shares of the company’s stock after buying an additional 18,569 shares during the quarter. Pitcairn Co.’s holdings in Citigroup were worth $6,631,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Old North State Trust LLC lifted its position in Citigroup by 8.9% in the second quarter. Old North State Trust LLC now owns 5,223 shares of the company’s stock valued at $445,000 after acquiring an additional 429 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Citigroup by 9.6% in the 2nd quarter. Geneos Wealth Management Inc. now owns 11,897 shares of the company’s stock valued at $1,013,000 after purchasing an additional 1,045 shares during the last quarter. Kestra Investment Management LLC boosted its position in shares of Citigroup by 66.7% in the 2nd quarter. Kestra Investment Management LLC now owns 7,567 shares of the company’s stock valued at $644,000 after purchasing an additional 3,028 shares during the period. Caxton Associates LLP grew its stake in Citigroup by 39.4% during the 2nd quarter. Caxton Associates LLP now owns 47,519 shares of the company’s stock worth $4,045,000 after buying an additional 13,426 shares during the last quarter. Finally, Castleark Management LLC increased its position in Citigroup by 103.1% during the second quarter. Castleark Management LLC now owns 134,184 shares of the company’s stock worth $11,422,000 after buying an additional 68,120 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Dbs Bank lowered shares of Citigroup from a “moderate buy” rating to a “hold” rating in a research report on Monday, September 22nd. Barclays raised their price objective on shares of Citigroup from $100.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Morgan Stanley upped their target price on shares of Citigroup from $129.00 to $134.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Oppenheimer lowered their price target on Citigroup from $123.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, November 19th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Citigroup in a research report on Wednesday, October 8th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and an average price target of $112.47.

Citigroup Trading Up 0.1%

Shares of Citigroup stock opened at $111.82 on Friday. The firm has a market cap of $200.07 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 0.55 and a beta of 1.21. Citigroup Inc. has a 52-week low of $55.51 and a 52-week high of $113.43. The company’s 50-day simple moving average is $101.21 and its 200-day simple moving average is $94.39. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.62.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, October 14th. The company reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.35. Citigroup had a return on equity of 7.91% and a net margin of 8.73%.The company had revenue of $22.09 billion for the quarter, compared to analyst estimates of $20.92 billion. During the same quarter in the previous year, the company earned $1.51 EPS. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Monday, November 3rd were paid a $0.60 dividend. The ex-dividend date was Monday, November 3rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.1%. Citigroup’s payout ratio is 33.71%.

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.