CIBC Asset Management Inc Grows Stock Holdings in Citigroup Inc. (NYSE:C)

CIBC Asset Management Inc boosted its stake in shares of Citigroup Inc. (NYSE:C) by 8.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 297,779 shares of the company’s stock after purchasing an additional 21,936 shares during the period. CIBC Asset Management Inc’s holdings in Citigroup were worth $18,641,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. POM Investment Strategies LLC purchased a new stake in shares of Citigroup during the 2nd quarter valued at about $25,000. Northwest Investment Counselors LLC bought a new stake in Citigroup during the third quarter valued at approximately $28,000. Beacon Capital Management LLC grew its position in Citigroup by 85.5% during the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after buying an additional 212 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in Citigroup during the second quarter valued at approximately $31,000. Finally, Triad Wealth Partners LLC bought a new position in Citigroup in the second quarter worth approximately $32,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Oppenheimer boosted their price objective 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. Wells Fargo & Company raised their price objective on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday. The Goldman Sachs Group cut their price objective on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Evercore ISI lifted their price target on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. Finally, Barclays raised their price objective 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. One research 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Citigroup Trading Up 0.9 %

Shares of C opened at $68.76 on Friday. Citigroup Inc. has a fifty-two week low of $44.32 and a fifty-two week high of $70.20. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. The company’s fifty day moving average is $63.21 and its 200 day moving average is $62.59. The stock has a market capitalization of $130.04 billion, a PE ratio of 19.93, a P/E/G ratio of 0.77 and a beta of 1.44.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.31 by $0.20. The company had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The firm’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the business posted $1.52 earnings per share. Sell-side analysts expect that Citigroup Inc. will post 5.85 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.26%. The ex-dividend date was Monday, November 4th. Citigroup’s dividend payout ratio is currently 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.