Citigroup Inc. $C Stake Boosted by Northeast Investment Management

Northeast Investment Management boosted its holdings in Citigroup Inc. (NYSE:C) by 244.1% in the third quarter, HoldingsChannel.com reports. The firm owned 7,922 shares of the company’s stock after acquiring an additional 5,620 shares during the period. Northeast Investment Management’s holdings in Citigroup were worth $1,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Whipplewood Advisors LLC bought a new position in shares of Citigroup in the 1st quarter worth about $25,000. Paladin Partners LLC bought a new stake in shares of Citigroup during the 2nd quarter valued at about $27,000. Balance Wealth Partners LLC acquired a new stake in Citigroup during the third quarter worth about $27,000. IMG Wealth Management Inc. raised its stake in Citigroup by 197.6% during the first quarter. IMG Wealth Management Inc. now owns 244 shares of the company’s stock worth $28,000 after acquiring an additional 162 shares during the period. Finally, Scarborough Advisors LLC acquired a new stake in Citigroup during the first quarter worth about $29,000. Institutional investors own 71.72% of the company’s stock.

Citigroup Trading Up 1.6%

Shares of NYSE:C opened at $124.72 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 1.78. The company’s 50-day moving average price is $129.50 and its 200 day moving average price is $126.57. The company has a market cap of $212.73 billion, a PE ratio of 12.17, a P/E/G ratio of 0.54 and a beta of 1.18. Citigroup Inc. has a fifty-two week low of $95.83 and a fifty-two week high of $147.96.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, October 13th. The company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.66 by $0.19. Citigroup had a net margin of 10.97% and a return on equity of 10.57%. The firm had revenue of $23.84 billion during the quarter, compared to analysts’ expectations of $23.74 billion. During the same quarter in the prior year, the firm earned $1.86 EPS. Citigroup’s quarterly revenue was up 7.9% on a year-over-year basis. Sell-side analysts anticipate that Citigroup Inc. will post 11.44 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 2nd will be given a dividend of $0.67 per share. The ex-dividend date is Monday, November 2nd. This represents a $2.68 annualized dividend and a dividend yield of 2.1%. Citigroup’s payout ratio is currently 26.15%.

Analyst Upgrades and Downgrades

C has been the subject of a number of research reports. TD Cowen decreased their target price on Citigroup from $150.00 to $148.00 and set a “buy” rating for the company in a research note on Wednesday, October 14th. Loop Capital set a $155.00 price target on Citigroup in a research report on Tuesday, October 13th. Royal Bank Of Canada cut their price target on Citigroup from $150.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, October 14th. Weiss Ratings lowered Citigroup from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on Citigroup from $147.00 to $148.50 and gave the company an “overweight” rating in a research report on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and an average price target of $150.87.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: China approved Citi’s wholly owned securities company, which is expected to offer brokerage, underwriting and research services. The move expands Citi’s presence in China’s capital markets and could create longer-term business opportunities. Why Is Citigroup Building A Bigger China Business Through A New Securities Unit?
• Positive Sentiment: A report on Citi’s workforce reductions, restructuring and AI investments said the initiatives target $2 billion to $2.5 billion in annual savings, which could support profitability if the bank delivers on the plan. Will Citigroup’s Cost-Cut Initiatives Boost Long-Term Profitability?
• Negative Sentiment: Media reports described a police response, including SWAT teams, to a reported shooting at Citi’s Tampa campus and urged the public to stay away. The available report did not establish further details or any effect on Citi’s operations. Citi Tampa shooting report

About Citigroup

Citigroup Inc is a global financial services company headquartered in New York City and operates under the Citi brand. The company provides banking, lending, investment, wealth management and other financial services to individuals, businesses, institutions and governments.

Citi’s consumer offerings include checking and savings accounts, credit cards, mortgages, personal lending and wealth management services. Through its institutional businesses, the company provides investment banking, commercial banking, securities brokerage, markets and trading, cash management, trade finance and custody services.