First Citizens Bank & Trust Co. grew its stake in Citigroup Inc (NYSE:C) by 25.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,793 shares of the financial services provider’s stock after buying an additional 6,157 shares during the period. First Citizens Bank & Trust Co.’s holdings in Citigroup were worth $1,328,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its position in shares of Citigroup by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 35,615,758 shares of the financial services provider’s stock worth $1,819,963,000 after buying an additional 1,711,353 shares during the last quarter. Sanders Capital LLC raised its holdings in Citigroup by 52.0% in the 2nd 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 in the last quarter. Morgan Stanley raised its holdings in Citigroup by 4.6% in the 1st quarter. Morgan Stanley now owns 14,670,219 shares of the financial services provider’s stock valued at $617,909,000 after acquiring an additional 650,874 shares in the last quarter. Nordea Investment Management AB raised its holdings in Citigroup by 123.8% in the 2nd 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 in the last quarter. Finally, Public Investment Fund acquired a new position in Citigroup in the 1st quarter valued at approximately $521,979,000. 75.57% of the stock is owned by institutional investors.
Several equities analysts have commented on C shares. Societe Generale raised Citigroup from a “hold” rating to a “buy” rating in a report on Tuesday, July 7th. Berenberg Bank upped their price target on Citigroup from $50.00 to $65.00 and gave the company a “buy” rating in a report on Monday, July 20th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $58.00 price target on shares of Citigroup in a report on Friday, July 3rd. JPMorgan Chase & Co. cut Citigroup from an “overweight” rating to a “neutral” rating and set a $57.50 price target for the company. in a report on Thursday, October 8th. Finally, Barclays lowered their price objective on Citigroup from $78.00 to $63.00 and set an “overweight” rating on the stock in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eighteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $69.40.
NYSE:C opened at $43.19 on Friday. The stock’s fifty day moving average price is $46.81 and its two-hundred day moving average price is $48.19. Citigroup Inc has a 52-week low of $32.00 and a 52-week high of $83.11. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $89.92 billion, a price-to-earnings ratio of 8.47, a P/E/G ratio of 1.24 and a beta of 1.78.
Citigroup (NYSE:C) last posted its quarterly earnings data on Monday, October 19th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.39. Citigroup had a return on equity of 7.40% and a net margin of 13.64%. The firm had revenue of $17.30 billion for the quarter, compared to the consensus estimate of $17.18 billion. During the same quarter in the prior year, the business earned $1.97 EPS. The business’s revenue for the quarter was down 6.9% compared to the same quarter last year. On average, equities analysts predict that Citigroup Inc will post 3.52 EPS for the current fiscal year.
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).
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