TCW Group Inc. Buys 26,882 Shares of Citigroup Inc. (NYSE:C)

TCW Group Inc. increased its stake in shares of Citigroup Inc. (NYSE:C) by 8.6% in the third quarter, Holdings Channel reports. The firm owned 338,816 shares of the company’s stock after buying an additional 26,882 shares during the quarter. TCW Group Inc.’s holdings in Citigroup were worth $21,210,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Citigroup by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock worth $2,492,238,000 after buying an additional 791,758 shares during the period. Bank of New York Mellon Corp boosted its stake in Citigroup by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 30,007,284 shares of the company’s stock worth $1,904,262,000 after acquiring an additional 250,716 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Citigroup by 3.2% during the third quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock valued at $1,813,544,000 after purchasing an additional 911,694 shares during the period. Legal & General Group Plc increased its stake in Citigroup by 5.5% in the second quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock valued at $1,105,999,000 after purchasing an additional 913,231 shares in the last quarter. Finally, Greenhaven Associates Inc. raised its holdings in Citigroup by 1.5% in the third quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock worth $1,056,900,000 after purchasing an additional 242,545 shares during the period. Institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Morgan Stanley decreased their price target on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. The Goldman Sachs Group boosted their target price on Citigroup from $72.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Keefe, Bruyette & Woods raised Citigroup from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $70.00 to $82.00 in a research report on Tuesday, December 3rd. Evercore ISI lifted their price objective on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. Finally, Bank of America increased their target price on Citigroup from $78.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $75.63.

Citigroup Trading Up 0.9 %

Shares of NYSE:C opened at $72.52 on Wednesday. The stock has a market capitalization of $137.15 billion, a PE ratio of 21.02, a price-to-earnings-growth ratio of 0.81 and a beta of 1.45. The company’s 50-day moving average price is $66.71 and its two-hundred day moving average price is $63.48. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup Inc. has a one year low of $47.71 and a one year high of $73.38.

Citigroup (NYSE:C) last released its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.20. The business had revenue of $20.32 billion for 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%. Citigroup’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.52 earnings per share. On average, equities analysts forecast that Citigroup Inc. will post 5.85 EPS for the current fiscal year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were paid a $0.56 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.24 annualized dividend and a dividend yield of 3.09%. Citigroup’s dividend payout ratio 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.