Geode Capital Management LLC Buys 791,758 Shares of Citigroup Inc. (NYSE:C)

Geode Capital Management LLC increased its stake in shares of Citigroup Inc. (NYSE:C) by 2.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,919,798 shares of the company’s stock after buying an additional 791,758 shares during the period. Geode Capital Management LLC owned about 2.11% of Citigroup worth $2,492,238,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in C. MONECO Advisors LLC increased its holdings in Citigroup by 2.9% in the 2nd quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock worth $352,000 after acquiring an additional 157 shares during the last quarter. Lifestyle Asset Management Inc. increased its stake in shares of Citigroup by 4.5% in the third quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock worth $233,000 after purchasing an additional 160 shares in the last quarter. Legacy Capital Group California Inc. increased its stake in shares of Citigroup by 1.0% in the second quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock worth $1,053,000 after purchasing an additional 169 shares in the last quarter. Grove Bank & Trust raised its position in shares of Citigroup by 7.1% in the third quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock valued at $161,000 after purchasing an additional 170 shares during the period. Finally, MWA Asset Management lifted its stake in shares of Citigroup by 1.4% during the 3rd quarter. MWA Asset Management now owns 12,585 shares of the company’s stock valued at $788,000 after buying an additional 173 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Down 0.4 %

Shares of NYSE:C opened at $71.88 on Tuesday. The firm has a market capitalization of $135.94 billion, a PE ratio of 20.83, a price-to-earnings-growth ratio of 0.81 and a beta of 1.45. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. Citigroup Inc. has a 52-week low of $47.71 and a 52-week high of $72.85. The firm has a fifty day moving average of $66.31 and a 200 day moving average of $63.36.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. The firm had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.52 EPS. As a group, research analysts anticipate that Citigroup Inc. will post 5.85 EPS for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s dividend payout ratio (DPR) is presently 64.93%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on C shares. Bank of America boosted their target price on shares of Citigroup from $78.00 to $90.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Morgan Stanley decreased their price objective on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Wells Fargo & Company raised their target price on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Piper Sandler upped their price target on Citigroup from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Keefe, Bruyette & Woods upgraded shares of Citigroup from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $70.00 to $82.00 in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $75.63.

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.