Point72 Asia Singapore Pte. Ltd. Buys New Position in Citigroup Inc. (NYSE:C)

Point72 Asia Singapore Pte. Ltd. bought a new stake in Citigroup Inc. (NYSE:C) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 14,685 shares of the company’s stock, valued at approximately $919,000.

A number of other institutional investors and hedge funds have also bought and sold shares of C. POM Investment Strategies LLC purchased a new position in shares of Citigroup during the second quarter worth approximately $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Citigroup during the third quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Citigroup during the second quarter worth approximately $31,000. Triad Wealth Partners LLC purchased a new position in shares of Citigroup during the second quarter worth approximately $32,000. Finally, GHP Investment Advisors Inc. grew its holdings in shares of Citigroup by 184.0% in the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after purchasing an additional 368 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on C. Wells Fargo & Company raised their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. The Goldman Sachs Group cut their target price on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Oppenheimer lifted their price target on shares of Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Evercore ISI lifted their price target on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. Finally, Barclays lifted their price target on shares of Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Citigroup Price Performance

C opened at $70.87 on Monday. The stock has a 50-day moving average price of $65.30 and a 200-day moving average price of $63.08. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $134.03 billion, a PE ratio of 20.54, a P/E/G ratio of 0.79 and a beta of 1.44. Citigroup Inc. has a 1 year low of $45.58 and a 1 year high of $71.19.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The business had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.86 billion. During the same quarter in the previous year, the firm earned $1.52 EPS. Citigroup’s revenue was up .9% on a year-over-year basis. Sell-side analysts predict that Citigroup Inc. will post 5.85 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were paid a dividend of $0.56 per share. The ex-dividend date was Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.16%. Citigroup’s dividend payout ratio is currently 64.93%.

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.