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

CIBC Asset Management Inc raised its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 8.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 297,779 shares of the company's stock after buying an additional 21,936 shares during the quarter. CIBC Asset Management Inc's holdings in Citigroup were worth $18,641,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of C. FUKOKU MUTUAL LIFE INSURANCE Co lifted its position in Citigroup by 28.4% during the third quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 12,328 shares of the company's stock valued at $772,000 after acquiring an additional 2,730 shares during the last quarter. Intellectus Partners LLC increased its position in shares of Citigroup by 57.6% during the third quarter. Intellectus Partners LLC now owns 9,780 shares of the company's stock worth $612,000 after purchasing an additional 3,574 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Citigroup by 5.1% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 52,767 shares of the company's stock valued at $3,303,000 after purchasing an additional 2,560 shares during the last quarter. Black Swift Group LLC boosted its position in shares of Citigroup by 60.6% in the 3rd quarter. Black Swift Group LLC now owns 9,500 shares of the company's stock worth $595,000 after purchasing an additional 3,585 shares in the last quarter. Finally, Zions Bancorporation N.A. grew its stake in Citigroup by 17.0% during the 3rd quarter. Zions Bancorporation N.A. now owns 4,279 shares of the company's stock worth $268,000 after buying an additional 621 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Performance

Citigroup stock traded up $0.61 during midday trading on Friday, hitting $68.76. 15,373,056 shares of the company were exchanged, compared to its average volume of 14,459,951. The business has a fifty day simple moving average of $63.21 and a two-hundred day simple moving average of $62.59. 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 firm has a market capitalization of $130.04 billion, a PE ratio of 19.93, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44. Citigroup Inc. has a fifty-two week low of $44.32 and a fifty-two week high of $70.20.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $1.31 by $0.20. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The business had revenue of $20.32 billion for the quarter, compared to analysts' expectations of $19.86 billion. During the same quarter last year, the company earned $1.52 EPS. The business's revenue was up .9% on a year-over-year basis. On average, sell-side analysts forecast that Citigroup Inc. will post 5.85 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date was Monday, November 4th. Citigroup's dividend payout ratio (DPR) is presently 64.93%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. The Goldman Sachs Group decreased their price target on Citigroup from $75.00 to $71.00 and set a "buy" rating for the company in a research note on Wednesday, September 11th. Wells Fargo & Company increased their price objective on shares of Citigroup from $85.00 to $95.00 and gave the company an "overweight" rating in a research report on Friday. Bank of America lifted their target price on shares of Citigroup from $77.00 to $78.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Barclays upped their price target on shares of Citigroup from $63.00 to $70.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley lowered their price objective on shares of Citigroup from $86.00 to $82.00 and set an "overweight" rating for the company in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, Citigroup currently has a consensus rating of "Moderate Buy" and a consensus target price of $73.00.

About Citigroup

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.