Citigroup Inc. $C Shares Acquired by Cim Investment Management Inc.

by · The Markets Daily

Cim Investment Management Inc. increased its position in Citigroup Inc. (NYSE:C – Free Report) by 99.7% in the second quarter, Holdings Channel reports. The firm owned 12,614 shares of the company’s stock after purchasing an additional 6,296 shares during the quarter. Cim Investment Management Inc.’s holdings in Citigroup were worth $981,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Truvestments Capital LLC grew its position in shares of Citigroup by 131.6% in the 1st quarter. Truvestments Capital LLC now owns 433 shares of the company’s stock worth $31,000 after acquiring an additional 246 shares in the last quarter. Howard Hughes Medical Institute bought a new position in Citigroup during the second quarter worth $34,000. DHJJ Financial Advisors Ltd. boosted its holdings in Citigroup by 157.1% in the second quarter. DHJJ Financial Advisors Ltd. now owns 414 shares of the company’s stock worth $35,000 after purchasing an additional 253 shares during the period. WPG Advisers LLC bought a new stake in Citigroup during the first quarter valued at $38,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Citigroup during the second quarter worth $38,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on C shares. TD Cowen lifted their price target on shares of Citigroup from $105.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Citigroup in a research note on Wednesday. JPMorgan Chase & Co. raised Citigroup from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $107.00 to $124.00 in a research report on Friday. Weiss Ratings reissued a “buy (b)” rating on shares of Citigroup in a report on Wednesday, October 8th. Finally, Barclays increased their price objective on shares of Citigroup from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and an average price target of $112.47.

View Our Latest Stock Report on Citigroup

Citigroup Stock Performance

C stock opened at $111.82 on Friday. The company has a 50-day simple moving average of $101.21 and a 200 day simple moving average of $94.39. The company has a market capitalization of $200.07 billion, a P/E ratio of 15.70, a PEG ratio of 0.55 and a beta of 1.21. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.62. Citigroup Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $113.43.

Citigroup (NYSE:C – Get Free Report) last released its earnings results on Tuesday, October 14th. The company reported $2.24 EPS for the quarter, beating the consensus estimate of $1.89 by $0.35. Citigroup had a net margin of 8.73% and a return on equity of 7.91%. The firm had revenue of $22.09 billion for the quarter, compared to analysts’ expectations of $20.92 billion. During the same quarter last year, the company earned $1.51 EPS. Citigroup’s quarterly revenue was up 9.3% on a year-over-year basis. Sell-side analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Monday, November 3rd were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Monday, November 3rd. Citigroup’s dividend payout ratio is 33.71%.

About Citigroup

(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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