NorthCrest Asset Manangement LLC Grows Holdings in Citigroup Inc. (NYSE:C)

NorthCrest Asset Manangement LLC increased its holdings in shares of Citigroup Inc. (NYSE:C) by 1.8% during the third quarter, Holdings Channel.com reports. The fund owned 162,246 shares of the company’s stock after buying an additional 2,930 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Citigroup were worth $10,157,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of C. Price T Rowe Associates Inc. MD lifted its holdings in Citigroup by 123.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock valued at $2,005,749,000 after purchasing an additional 17,525,484 shares in the last quarter. Swedbank AB acquired a new position in shares of Citigroup during the first quarter valued at approximately $253,286,000. Acadian Asset Management LLC lifted its holdings in Citigroup by 527.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock valued at $158,521,000 after purchasing an additional 2,100,135 shares in the last quarter. Caxton Associates LP boosted its stake in Citigroup by 7,393.3% during the 1st quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock worth $127,453,000 after purchasing an additional 1,988,494 shares during the last quarter. Finally, DAVENPORT & Co LLC raised its position in shares of Citigroup by 1,749.2% in the first quarter. DAVENPORT & Co LLC now owns 1,314,323 shares of the company’s stock valued at $82,985,000 after buying an additional 1,243,249 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on C shares. BMO Capital Markets increased their price objective on shares of Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Evercore ISI increased their price target on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. Barclays boosted their price objective on Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Bank of America boosted their price target on shares of Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Argus lifted their target price on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and an average target price of $71.06.

Citigroup Trading Down 2.0 %

Shares of C stock traded down $1.24 on Friday, hitting $61.76. The stock had a trading volume of 9,697,845 shares, compared to its average volume of 14,373,945. The company’s 50 day moving average price is $61.67 and its 200-day moving average price is $61.95. Citigroup Inc. has a 1 year low of $38.17 and a 1 year high of $67.81. The firm has a market capitalization of $117.80 billion, a P/E ratio of 17.30, a P/E/G ratio of 0.74 and a beta of 1.44. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The company had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. During the same period in the prior year, the firm earned $1.52 earnings per share. The business’s revenue for the quarter was up .9% compared to the same quarter last year. Analysts anticipate that Citigroup Inc. will post 5.76 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a yield of 3.63%. Citigroup’s dividend payout ratio (DPR) is presently 62.75%.

About Citigroup

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.