Citigroup Inc. (C) Shares Bought by Baker Avenue Asset Management LP
Baker Avenue Asset Management LP boosted its stake in shares of Citigroup Inc. (NYSE:C) by 50.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,188 shares of the financial services provider’s stock after purchasing an additional 5,088 shares during the quarter. Baker Avenue Asset Management LP’s holdings in Citigroup were worth $1,016,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the business. Vantage Financial Partners Ltd. Inc. bought a new stake in shares of Citigroup in the second quarter valued at about $1,034,000. 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. lifted its position in Citigroup by 206.0% during the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,530 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 1,030 shares during the period. Dubuque Bank & Trust Co. lifted its position in Citigroup by 60.8% during the second quarter. Dubuque Bank & Trust Co. now owns 1,584 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 599 shares during the period. Finally, Acrospire Investment Management LLC lifted its position in Citigroup by 21.4% during the second quarter. Acrospire Investment Management LLC now owns 1,700 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 300 shares during the period. 78.15% of the stock is owned by hedge funds and other institutional investors.
Citigroup Inc. (NYSE:C) opened at $71.67 on Friday. Citigroup Inc. has a twelve month low of $54.36 and a twelve month 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 stock has a market capitalization of $189,654.27, a price-to-earnings ratio of 13.82, a P/E/G ratio of 1.40 and a beta of 1.57.
Citigroup (NYSE:C) last released its quarterly earnings results on Thursday, October 12th. The financial services provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.10. The business 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%. Citigroup’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.24 EPS. analysts predict that Citigroup Inc. will post 5.31 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Monday, November 6th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Friday, November 3rd. Citigroup’s payout ratio is currently 24.66%.
Several research firms recently weighed in on C. Keefe, Bruyette & Woods set a $75.00 price objective on shares of Citigroup and gave the stock a “buy” rating in a research report on Sunday, August 13th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Citigroup in a research report on Monday, October 2nd. Raymond James Financial, Inc. reissued an “underperform” rating on shares of Citigroup in a research note on Wednesday, September 27th. Deutsche Bank AG reissued a “hold” rating and set a $67.00 target price (up previously from $61.00) on shares of Citigroup in a research note on Tuesday, September 26th. Finally, Atlantic Securities reissued an “overweight” rating and set a $85.00 target price (up previously from $75.00) on shares of Citigroup in a research note on Tuesday, September 26th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $74.77.
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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