Nexus Investment Management Inc. Purchases 23,050 Shares of Citigroup Inc. (C)
Nexus Investment Management Inc. increased its stake in Citigroup Inc. (NYSE:C) by 6.7% during the third quarter, Holdings Channel reports. The fund owned 366,950 shares of the financial services provider’s stock after buying an additional 23,050 shares during the period. Citigroup accounts for 3.2% of Nexus Investment Management Inc.’s portfolio, making the stock its 15th largest position. Nexus Investment Management Inc.’s holdings in Citigroup were worth $17,331,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Citigroup by 3.5% in the second quarter. Vanguard Group Inc. now owns 175,049,494 shares of the financial services provider’s stock valued at $7,420,348,000 after buying an additional 5,872,249 shares during the period. FMR LLC increased its position in shares of Citigroup by 3.7% in the second quarter. FMR LLC now owns 92,973,398 shares of the financial services provider’s stock valued at $3,941,143,000 after buying an additional 3,339,340 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Citigroup by 1.2% in the second quarter. Franklin Resources Inc. now owns 36,139,625 shares of the financial services provider’s stock valued at $1,531,980,000 after buying an additional 436,566 shares during the last quarter. BlackRock Fund Advisors increased its position in shares of Citigroup by 1.4% in the second quarter. BlackRock Fund Advisors now owns 34,452,658 shares of the financial services provider’s stock valued at $1,460,448,000 after buying an additional 476,584 shares during the last quarter. Finally, BlackRock Advisors LLC increased its position in shares of Citigroup by 12.0% in the second quarter. BlackRock Advisors LLC now owns 24,360,369 shares of the financial services provider’s stock valued at $1,032,636,000 after buying an additional 2,614,460 shares during the last quarter. Institutional investors own 70.81% of the company’s stock.
Citigroup Inc. (NYSE:C) traded up 0.47% during midday trading on Tuesday, reaching $55.73. 6,826,966 shares of the company traded hands. The stock has a market capitalization of $158.82 billion, a P/E ratio of 12.12 and a beta of 1.74. The company has a 50 day moving average price of $51.32 and a 200-day moving average price of $46.71. Citigroup Inc. has a one year low of $34.52 and a one year high of $56.83.
Citigroup (NYSE:C) last announced its earnings results on Friday, October 14th. The financial services provider reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.08. Citigroup had a net margin of 17.58% and a return on equity of 7.04%. The business had revenue of $17.80 billion for the quarter, compared to the consensus estimate of $17.32 billion. During the same quarter in the prior year, the firm posted $1.31 earnings per share. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. Analysts forecast that Citigroup Inc. will post $4.70 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 23rd. Stockholders of record on Monday, November 7th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Thursday, November 3rd. Citigroup’s dividend payout ratio is currently 13.91%.
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Several brokerages have commented on C. Jefferies Group set a $36.00 price target on shares of Citigroup and gave the company a “buy” rating in a report on Saturday, November 19th. Vetr downgraded shares of Citigroup from a “hold” rating to a “sell” rating and set a $48.96 price target for the company. in a report on Wednesday, November 9th. Compass Point began coverage on shares of Citigroup in a report on Tuesday, October 11th. They issued a “sell” rating and a $39.00 price target for the company. raised their price target on shares of Citigroup from $61.00 to $63.00 and gave the company a “buy” rating in a report on Friday, September 23rd. Finally, Argus reissued a “hold” rating on shares of Citigroup in a report on Tuesday, October 18th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $54.75.
Citigroup Inc (Citi) is a financial services holding company. The Company’s businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.
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