Livforsakringsbolaget Skandia Omsesidigt Grows Position in Citigroup Inc. (NYSE:C)

Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Citigroup Inc. (NYSE:C) by 272.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,134 shares of the company’s stock after purchasing an additional 10,339 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Citigroup were worth $885,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in C. MONECO Advisors LLC grew its position in Citigroup by 2.9% during the second quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock worth $352,000 after buying an additional 157 shares during the period. Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Citigroup by 4.0% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock worth $272,000 after acquiring an additional 164 shares during the period. NorthRock Partners LLC increased its stake in Citigroup by 2.7% in the 1st quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock valued at $398,000 after purchasing an additional 165 shares in the last quarter. Legacy Capital Group California Inc. raised its holdings in Citigroup by 1.0% during the second quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock worth $1,053,000 after purchasing an additional 169 shares during the last quarter. Finally, Bridge Creek Capital Management LLC grew its holdings in Citigroup by 0.3% in the third quarter. Bridge Creek Capital Management LLC now owns 67,236 shares of the company’s stock valued at $4,209,000 after purchasing an additional 175 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on C. Oppenheimer boosted their price objective on shares of Citigroup from $87.00 to $92.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Morgan Stanley increased their price target on shares of Citigroup from $79.00 to $86.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Keefe, Bruyette & Woods lifted their price objective on Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a research report on Thursday, June 20th. Royal Bank of Canada increased their target price on Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, June 17th. Finally, Evercore ISI boosted their price target on Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.33.

Citigroup Price Performance

C stock opened at $65.74 on Friday. The company has a market cap of $125.42 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 0.74 and a beta of 1.44. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47. The stock has a 50-day moving average price of $60.66 and a two-hundred day moving average price of $61.89. Citigroup Inc. has a 12-month low of $38.17 and a 12-month high of $67.81.

Citigroup (NYSE:C) last posted its earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. The firm had revenue of $20.14 billion during the quarter, compared to the consensus estimate of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The company’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.37 EPS. As a group, research analysts predict that Citigroup Inc. will post 5.76 EPS for the current year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.41%. This is a boost from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, August 5th. Citigroup’s dividend payout ratio is 62.75%.

Citigroup Profile

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.