Canada Pension Plan Investment Board Increases Position in Citigroup Inc. (NYSE:C)

Canada Pension Plan Investment Board raised its holdings in Citigroup Inc. (NYSE:C) by 29.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 2,373,314 shares of the company’s stock after acquiring an additional 534,754 shares during the period. Canada Pension Plan Investment Board owned 0.12% of Citigroup worth $150,088,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Capital World Investors increased its position in Citigroup by 26.1% during the first quarter. Capital World Investors now owns 5,280,342 shares of the company’s stock worth $333,929,000 after purchasing an additional 1,092,980 shares during the last quarter. Capital International Sarl grew its stake in shares of Citigroup by 6.1% during the 1st quarter. Capital International Sarl now owns 85,245 shares of the company’s stock valued at $5,391,000 after buying an additional 4,864 shares during the period. Capital International Ltd. CA increased its holdings in shares of Citigroup by 1.3% during the 1st quarter. Capital International Ltd. CA now owns 73,128 shares of the company’s stock worth $4,625,000 after buying an additional 971 shares during the last quarter. Cadence Bank purchased a new position in shares of Citigroup in the 1st quarter worth $211,000. Finally, Stamos Capital Partners L.P. purchased a new position in shares of Citigroup in the 1st quarter worth $5,012,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

Shares of C traded up $0.81 during trading hours on Friday, reaching $65.18. 9,661,252 shares of the company’s stock traded hands, compared to its average volume of 13,410,551. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $67.81. The business’s fifty day simple moving average is $63.06 and its two-hundred day simple moving average is $59.77. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.95. The firm has a market capitalization of $124.33 billion, a price-to-earnings ratio of 18.26, a P/E/G ratio of 0.70 and a beta of 1.46.

Citigroup (NYSE:C) last announced its earnings results on Friday, July 12th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.39 by $0.13. The firm had revenue of $20.14 billion for the quarter, compared to analysts’ expectations of $20.07 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.37 earnings per share. Analysts predict that Citigroup Inc. will post 5.84 earnings per share for the current year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Monday, August 5th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend is Monday, August 5th. This is an increase from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio is 59.38%.

Analysts Set New Price Targets

C has been the subject of several research reports. Argus boosted their price objective on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Keefe, Bruyette & Woods increased their price target on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. BMO Capital Markets boosted their price objective on Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Oppenheimer upped their target price on Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $80.00 target price on shares of Citigroup in a report on Monday, April 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $67.25.

Citigroup Company 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.