Citigroup Inc. (C) Shares Bought by Foundry Partners LLC
Foundry Partners LLC raised its stake in shares of Citigroup Inc. (NYSE:C) by 20.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 497,955 shares of the financial services provider’s stock after purchasing an additional 84,870 shares during the period. Citigroup accounts for 1.4% of Foundry Partners LLC’s portfolio, making the stock its largest position. Foundry Partners LLC’s holdings in Citigroup were worth $36,221,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. BlackRock Inc. grew its stake in 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 buying an additional 189,447,104 shares during the period. Lazard Asset Management LLC grew its stake in 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 buying an additional 4,856,866 shares during the period. PointState Capital LP purchased a new stake in Citigroup during the second quarter worth approximately $321,322,000. Pioneer Investment Management Inc. grew its stake in 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 buying an additional 4,795,145 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in 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 buying an additional 4,413,329 shares during the period. 78.47% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on the stock. Raymond James Financial began coverage on shares of Citigroup in a research note on Tuesday, October 31st. They set a “hold” rating for the company. Morgan Stanley upped their target price on shares of Citigroup from $73.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, October 13th. BidaskClub upgraded shares of Citigroup from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 10th. Deutsche Bank restated a “hold” rating and issued a $67.00 target price (up from $61.00) on shares of Citigroup in a research note on Tuesday, September 26th. Finally, Societe Generale downgraded shares of Citigroup from a “hold” rating to a “sell” rating and set a $65.00 target price for the company. in a research note on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Citigroup has an average rating of “Buy” and a consensus target price of $76.78.
Citigroup (NYSE:C) last issued its earnings results on Thursday, October 12th. The financial services provider reported $1.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.10. The company had revenue of $18.17 billion for the quarter, compared to analysts’ expectations 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% 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 anticipate that Citigroup Inc. will post 5.3 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Monday, November 6th were issued a dividend of $0.32 per share. The ex-dividend date was Friday, November 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.71%. Citigroup’s dividend payout ratio (DPR) is 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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