Principal Financial Group Inc. Has $354.22 Million Position in Citigroup Inc (C)
Principal Financial Group Inc. increased its stake in Citigroup Inc (NYSE:C) by 17.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,869,619 shares of the financial services provider’s stock after buying an additional 717,320 shares during the quarter. Principal Financial Group Inc. owned about 0.18% of Citigroup worth $354,216,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Catamount Wealth Management bought a new stake in shares of Citigroup during the second quarter worth $100,000. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its position in shares of Citigroup by 206.0% during the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,530 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 1,030 shares during the last quarter. Balentine LLC lifted its position in shares of Citigroup by 20.2% during the second quarter. Balentine LLC now owns 1,617 shares of the financial services provider’s stock worth $108,000 after purchasing an additional 272 shares during the last quarter. Acrospire Investment Management LLC lifted its position in shares of Citigroup by 21.4% during the second quarter. Acrospire Investment Management LLC now owns 1,700 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 300 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. bought a new stake in shares of Citigroup during the second quarter worth $123,000. Institutional investors own 78.54% of the company’s stock.
Citigroup Inc (NYSE:C) opened at $75.49 on Tuesday. Citigroup Inc has a 52 week low of $55.23 and a 52 week high of $77.92. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $199,595.70, a PE ratio of 14.55, a price-to-earnings-growth ratio of 1.48 and a beta of 1.55.
Citigroup (NYSE:C) last posted its earnings results on Thursday, October 12th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.10. Citigroup had a return on equity of 7.48% and a net margin of 18.11%. The company had revenue of $18.17 billion for the quarter, compared to analyst estimates of $17.87 billion. During the same quarter in the previous year, the firm earned $1.24 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. equities research analysts expect that Citigroup Inc will post 5.3 EPS for the current fiscal year.
Several analysts have recently weighed in on C shares. Credit Suisse Group reiterated a “buy” rating and set a $83.00 target price (up from $73.00) on shares of Citigroup in a research report on Monday, October 9th. They noted that the move was a valuation call. Wells Fargo & Co restated a “buy” rating on shares of Citigroup in a report on Monday, October 2nd. Royal Bank of Canada restated a “buy” rating and issued a $75.00 price objective on shares of Citigroup in a report on Wednesday, September 27th. BidaskClub upgraded Citigroup from a “hold” rating to a “buy” rating in a report on Thursday, September 21st. Finally, Nomura lifted their price objective on Citigroup from $80.00 to $81.00 and gave the company a “buy” rating in a report on Friday, October 13th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $76.78.
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Citigroup Inc (Citi) is a financial services holding company. The Company’s whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.
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