NorthCrest Asset Manangement LLC Purchases 2,930 Shares of Citigroup Inc. (NYSE:C)

NorthCrest Asset Manangement LLC lifted its position in shares of Citigroup Inc. (NYSE:C) by 1.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 162,246 shares of the company’s stock after purchasing an additional 2,930 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Citigroup were worth $10,157,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. raised its position in Citigroup by 13.3% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company’s stock worth $4,653,000 after buying an additional 8,593 shares during the last quarter. Lazard Asset Management LLC lifted its position in Citigroup by 13.4% during the first quarter. Lazard Asset Management LLC now owns 201,456 shares of the company’s stock valued at $12,739,000 after purchasing an additional 23,774 shares during the period. BDF Gestion bought a new position in Citigroup during the second quarter valued at approximately $3,861,000. New Mexico Educational Retirement Board boosted its holdings in Citigroup by 13.9% in the first quarter. New Mexico Educational Retirement Board now owns 115,426 shares of the company’s stock worth $7,300,000 after purchasing an additional 14,100 shares during the last quarter. Finally, Advisory Services Network LLC raised its stake in Citigroup by 23.8% during the 1st quarter. Advisory Services Network LLC now owns 66,509 shares of the company’s stock valued at $4,206,000 after buying an additional 12,795 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Down 2.0 %

Shares of Citigroup stock traded down $1.24 during trading on Friday, hitting $61.76. 9,697,845 shares of the stock traded hands, compared to its average volume of 14,373,945. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $67.81. The stock’s fifty day simple moving average is $61.67 and its 200 day simple moving average is $61.95. The firm has a market cap of $117.80 billion, a P/E ratio of 17.30, a price-to-earnings-growth ratio of 0.74 and a beta of 1.44. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47.

Citigroup (NYSE:C) 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. The company had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. Citigroup’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.52 earnings per share. On average, equities analysts predict that Citigroup Inc. will post 5.76 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date is Monday, November 4th. Citigroup’s dividend payout ratio (DPR) is presently 62.75%.

Analyst Ratings Changes

A number of research firms have commented on C. Evercore ISI raised their target price on shares of Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 16th. Piper Sandler lifted their target price on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Bank of America increased their price target on Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. BMO Capital Markets raised their price target on Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Finally, Argus upped their price objective on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.06.

Citigroup Profile

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.