UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 240,628 Shares of Citigroup Inc. (NYSE:C)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Citigroup Inc. (NYSE:C) by 2.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,703,215 shares of the company’s stock after purchasing an additional 240,628 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Citigroup were worth $670,021,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Acadian Asset Management LLC grew its stake 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 buying an additional 2,100,135 shares in the last quarter. Caxton Associates LP grew its stake in Citigroup by 96.1% in the 2nd quarter. Caxton Associates LP now owns 3,952,428 shares of the company’s stock valued at $250,821,000 after buying an additional 1,937,038 shares in the last quarter. Legal & General Group Plc grew its stake in Citigroup by 5.5% in the 2nd quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock valued at $1,105,999,000 after buying an additional 913,231 shares in the last quarter. Fisher Asset Management LLC grew its stake in Citigroup by 3.2% in the 3rd quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock valued at $1,813,544,000 after buying an additional 911,694 shares in the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in Citigroup in the 2nd quarter valued at approximately $35,038,000. Institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Barclays boosted their price target on shares of Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Morgan Stanley reduced their price target on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research report 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. Evercore ISI boosted their price target on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, October 16th. Finally, Oppenheimer boosted their price target on shares of Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Citigroup Stock Performance

Shares of NYSE:C opened at $70.16 on Thursday. Citigroup Inc. has a 12 month low of $44.56 and a 12 month high of $71.19. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55. The company has a 50-day moving average price of $64.98 and a 200-day moving average price of $62.99. The company has a market cap of $132.69 billion, a price-to-earnings ratio of 20.34, a price-to-earnings-growth ratio of 0.79 and a beta of 1.44.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.20. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The company had revenue of $20.32 billion for the quarter, compared to analysts’ expectations of $19.86 billion. During the same quarter in the previous year, the company earned $1.52 earnings per share. Citigroup’s quarterly revenue was up .9% on a year-over-year basis. As a group, equities analysts anticipate that Citigroup Inc. will post 5.85 EPS for the current year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Monday, November 4th. Citigroup’s dividend payout ratio (DPR) is presently 64.93%.

Citigroup Company 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.