Schonfeld Strategic Advisors LLC Acquires 265,697 Shares of Citigroup Inc (NYSE:C)

Schonfeld Strategic Advisors LLC boosted its holdings in Citigroup Inc (NYSE:C) by 1,544.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 282,897 shares of the financial services provider’s stock after purchasing an additional 265,697 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Citigroup were worth $14,456,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of C. Public Investment Fund acquired a new stake in Citigroup in the first quarter valued at approximately $521,979,000. Nordea Investment Management AB grew its stake in Citigroup by 123.8% in the second quarter. Nordea Investment Management AB now owns 13,113,214 shares of the financial services provider’s stock valued at $658,414,000 after acquiring an additional 7,254,912 shares during the period. Sanders Capital LLC grew its stake in Citigroup by 52.0% in the second quarter. Sanders Capital LLC now owns 19,635,229 shares of the financial services provider’s stock valued at $1,108,724,000 after acquiring an additional 6,714,645 shares during the period. Thornburg Investment Management Inc. grew its stake in Citigroup by 201.4% in the second quarter. Thornburg Investment Management Inc. now owns 4,661,658 shares of the financial services provider’s stock valued at $238,211,000 after acquiring an additional 3,115,208 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of Citigroup by 133.7% during the second quarter. SG Americas Securities LLC now owns 529,591 shares of the financial services provider’s stock valued at $27,062,000 after buying an additional 2,098,850 shares during the last quarter. Institutional investors and hedge funds own 75.57% of the company’s stock.

Several brokerages recently issued reports on C. Royal Bank of Canada reaffirmed a “buy” rating and set a $58.00 target price on shares of Citigroup in a research report on Friday, July 3rd. BMO Capital Markets boosted their price objective on Citigroup from $82.00 to $87.00 in a research report on Wednesday, July 15th. Standpoint Research cut Citigroup from a “buy” rating to a “hold” rating in a research report on Tuesday, June 9th. Morgan Stanley cut their price objective on Citigroup from $61.00 to $58.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Seaport Global Securities assumed coverage on Citigroup in a research report on Wednesday, July 8th. They issued a “buy” rating and a $65.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and nineteen have given a buy rating to the company. Citigroup has a consensus rating of “Buy” and a consensus price target of $73.58.

Shares of NYSE:C traded up $1.21 during midday trading on Wednesday, reaching $46.02. 45,356,514 shares of the company traded hands, compared to its average volume of 25,371,301. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.60. Citigroup Inc has a 12 month low of $32.00 and a 12 month high of $83.11. The firm has a market capitalization of $95.81 billion, a price-to-earnings ratio of 7.98, a price-to-earnings-growth ratio of 1.43 and a beta of 1.75. The firm’s fifty day moving average price is $51.37 and its two-hundred day moving average price is $49.66.

Citigroup (NYSE:C) last announced its earnings results on Tuesday, July 14th. The financial services provider reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. The business had revenue of $19.77 billion for the quarter, compared to analyst estimates of $19.06 billion. Citigroup had a return on equity of 7.40% and a net margin of 13.64%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.95 EPS. Analysts forecast that Citigroup Inc will post 3.22 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 3rd were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date was Friday, July 31st. Citigroup’s payout ratio is currently 26.91%.

Citigroup Company Profile

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

See Also: The benefits and drawbacks of dollar cost averaging

Want to see what other hedge funds are holding C? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citigroup Inc (NYSE:C).

Institutional Ownership by Quarter for Citigroup (NYSE:C)

Receive News & Ratings for Citigroup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citigroup and related companies with MarketBeat.com's FREE daily email newsletter.