Handelsbanken Fonder AB Purchases New Stake in Citigroup Inc (NYSE:C)
Handelsbanken Fonder AB purchased a new position in Citigroup Inc (NYSE:C) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 503,542 shares of the financial services provider’s stock, valued at approximately $25,731,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Bartlett & Co. LLC bought a new stake in Citigroup in the first quarter valued at $123,000. Dynamic Advisor Solutions LLC increased its stake in shares of Citigroup by 25.8% in the first quarter. Dynamic Advisor Solutions LLC now owns 13,184 shares of the financial services provider’s stock worth $555,000 after purchasing an additional 2,708 shares in the last quarter. Homrich & Berg lifted its position in shares of Citigroup by 62.7% in the first quarter. Homrich & Berg now owns 11,242 shares of the financial services provider’s stock valued at $473,000 after acquiring an additional 4,332 shares in the last quarter. Wasatch Advisors Inc. raised its stake in Citigroup by 35.3% during the 1st quarter. Wasatch Advisors Inc. now owns 69,914 shares of the financial services provider’s stock valued at $2,945,000 after purchasing an additional 18,228 shares during the period. Finally, Cetera Advisors LLC lifted its holdings in Citigroup by 0.4% in the 1st quarter. Cetera Advisors LLC now owns 57,143 shares of the financial services provider’s stock worth $2,407,000 after purchasing an additional 236 shares in the last quarter. Hedge funds and other institutional investors own 75.57% of the company’s stock.
A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada reaffirmed a “buy” rating and set a $58.00 price target on shares of Citigroup in a research note on Friday, July 3rd. Standpoint Research downgraded Citigroup from a “buy” rating to a “hold” rating in a research report on Tuesday, June 9th. ValuEngine downgraded Citigroup from a “hold” rating to a “sell” rating in a report on Friday, August 21st. Bank of America boosted their target price on shares of Citigroup from $73.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Finally, Morgan Stanley reduced their target price on Citigroup from $61.00 to $58.00 and set an “overweight” rating for the company in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and nineteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $73.58.
Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. The company had revenue of $19.77 billion for the quarter, compared to the consensus estimate of $19.06 billion. Citigroup had a return on equity of 7.40% and a net margin of 13.64%. Citigroup’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.95 EPS. Equities research analysts anticipate that Citigroup Inc will post 3.22 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 3rd were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend was Friday, July 31st. Citigroup’s dividend payout ratio (DPR) is presently 26.91%.
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).
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