Ingalls & Snyder LLC grew its stake in shares of Citigroup Inc. (NYSE:C) by 0.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 164,247 shares of the financial services provider’s stock after purchasing an additional 1,469 shares during the quarter. Ingalls & Snyder LLC’s holdings in Citigroup were worth $11,947,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Catamount Wealth Management bought a new stake in shares of Citigroup in the second quarter valued at about $100,000. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its holdings in shares of Citigroup by 206.0% in the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,530 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 1,030 shares in the last quarter. Patten Group Inc. raised its holdings in shares of Citigroup by 6.6% in the first quarter. Patten Group Inc. now owns 1,765 shares of the financial services provider’s stock valued at $105,000 after acquiring an additional 110 shares in the last quarter. Balentine LLC raised its holdings in shares of Citigroup by 20.2% in the second quarter. Balentine LLC now owns 1,617 shares of the financial services provider’s stock valued at $108,000 after acquiring an additional 272 shares in the last quarter. Finally, Acrospire Investment Management LLC raised its holdings in shares of Citigroup by 21.4% in the second quarter. Acrospire Investment Management LLC now owns 1,700 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 300 shares in the last quarter. 78.59% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently weighed in on the company. Vetr upgraded Citigroup from a “hold” rating to a “buy” rating and set a $80.92 price objective for the company in a report on Monday. Raymond James Financial assumed coverage on Citigroup in a report on Tuesday, October 31st. They issued a “hold” rating for the company. BidaskClub downgraded Citigroup from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 17th. Societe Generale downgraded Citigroup from a “hold” rating to a “sell” rating and set a $65.00 price objective for the company. in a report on Monday, October 16th. Finally, Nomura lifted their price objective on Citigroup from $80.00 to $81.00 and gave the company a “buy” rating in a report on Friday, October 13th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $75.83.
Citigroup (NYSE:C) last announced its earnings results on Thursday, October 12th. The financial services provider reported $1.42 EPS for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.10. The business had revenue of $18.17 billion during the quarter, compared to the consensus estimate of $17.87 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.48%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.24 earnings per share. equities analysts predict that Citigroup Inc. will post 5.31 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Monday, November 6th were issued a $0.32 dividend. The ex-dividend date was Friday, November 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 1.70%. Citigroup’s dividend payout ratio is presently 24.66%.
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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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