QRG Capital Management Inc. Buys 8,015 Shares of Citigroup Inc. (NYSE:C)

by · The Markets Daily

QRG Capital Management Inc. grew its stake in shares of Citigroup Inc. (NYSE:C – Free Report) by 2.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 297,573 shares of the company’s stock after acquiring an additional 8,015 shares during the quarter. QRG Capital Management Inc.’s holdings in Citigroup were worth $18,628,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Mission Wealth Management LP acquired a new position in shares of Citigroup during the 1st quarter worth $291,000. Choreo LLC raised its holdings in shares of Citigroup by 33.8% during the 1st quarter. Choreo LLC now owns 8,615 shares of the company’s stock worth $545,000 after buying an additional 2,174 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Citigroup by 732.2% during the 1st quarter. Jennison Associates LLC now owns 60,766 shares of the company’s stock worth $3,843,000 after buying an additional 53,464 shares in the last quarter. Salomon & Ludwin LLC raised its holdings in shares of Citigroup by 133.6% during the 1st quarter. Salomon & Ludwin LLC now owns 1,077 shares of the company’s stock worth $68,000 after buying an additional 616 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in Citigroup in the 1st quarter worth about $63,000. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Performance

NYSE:C traded down $0.99 during trading on Monday, reaching $62.72. The company’s stock had a trading volume of 1,082,688 shares, compared to its average volume of 14,261,637. The firm has a market cap of $119.66 billion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 0.71 and a beta of 1.44. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.94 and a current ratio of 0.96. The firm has a 50 day moving average of $61.97 and a 200-day moving average of $62.16. Citigroup Inc. has a 12 month low of $41.28 and a 12 month high of $67.81.

Citigroup (NYSE:C – Get Free Report) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.20. The company had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.52 EPS. Research analysts expect that Citigroup Inc. will post 5.87 EPS for the current fiscal year.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.24 annualized dividend and a dividend yield of 3.57%. Citigroup’s payout ratio is 64.93%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on C. Argus upped their target price on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Morgan Stanley dropped their price target on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. The Goldman Sachs Group lowered their target price on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Bank of America increased their price target on Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Oppenheimer cut their target price on Citigroup from $92.00 to $91.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $71.06.

Get Our Latest Stock Report on Citigroup

Citigroup Company Profile

(Free Report)

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.

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