Cinctive Capital Management LP Takes Position in Citigroup Inc. (NYSE:C)

Cinctive Capital Management LP bought a new position in shares of Citigroup Inc. (NYSE:C) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 112,697 shares of the company’s stock, valued at approximately $7,055,000.

Other large investors have also modified their holdings of the company. POM Investment Strategies LLC purchased a new position in Citigroup in the second quarter valued at approximately $25,000. Northwest Investment Counselors LLC purchased a new position in Citigroup in the third quarter valued at about $28,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Citigroup during the second quarter worth about $31,000. Triad Wealth Partners LLC purchased a new stake in shares of Citigroup in the second quarter worth about $32,000. Finally, Strategic Financial Concepts LLC grew its stake in shares of Citigroup by 1,139.7% in the second quarter. Strategic Financial Concepts LLC now owns 52,738 shares of the company’s stock valued at $33,000 after buying an additional 48,484 shares in the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on C shares. Evercore ISI boosted their target price on shares of Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 16th. Bank of America upped their price objective on shares of Citigroup from $78.00 to $90.00 and gave the company a “buy” rating in a research report on Monday. Morgan Stanley lowered their price objective on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. The Goldman Sachs Group cut their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Finally, Oppenheimer raised their price target on shares of Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. One investment 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. According to data from MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.75.

Citigroup Stock Performance

C opened at $70.87 on Monday. Citigroup Inc. has a twelve month low of $45.58 and a twelve month high of $71.19. The stock has a market cap of $134.03 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 0.79 and a beta of 1.44. The business’s 50 day moving average is $65.30 and its 200-day moving average is $63.08. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55.

Citigroup (NYSE:C) last announced its quarterly earnings results 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 company had revenue of $20.32 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.52 EPS. On average, analysts predict that Citigroup Inc. will post 5.85 earnings per share for the current year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s dividend payout ratio (DPR) is presently 64.93%.

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.