Sanders Capital LLC Increases Stock Position in Citigroup Inc. (NYSE:C)

Sanders Capital LLC grew its position in shares of Citigroup Inc. (NYSE:C) by 0.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 12,083,550 shares of the company’s stock after buying an additional 25,617 shares during the quarter. Citigroup makes up approximately 1.1% of Sanders Capital LLC’s portfolio, making the stock its 26th largest holding. Sanders Capital LLC’s holdings in Citigroup were worth $756,430,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Swedbank AB acquired a new position in Citigroup in the 1st quarter valued at about $253,286,000. Acadian Asset Management LLC increased its holdings in shares of Citigroup by 527.5% in the second quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock valued at $158,521,000 after purchasing an additional 2,100,135 shares during the period. Caxton Associates LP raised its stake in shares of Citigroup by 96.1% during the second quarter. Caxton Associates LP now owns 3,952,428 shares of the company’s stock worth $250,821,000 after purchasing an additional 1,937,038 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Citigroup by 5.5% during the second quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock worth $1,105,999,000 after purchasing an additional 913,231 shares during the period. Finally, Fisher Asset Management LLC grew its position in Citigroup by 3.2% in the 3rd quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock valued at $1,813,544,000 after buying an additional 911,694 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Morgan Stanley cut their price objective on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Barclays increased their price target on shares of Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Oppenheimer lifted their price objective on Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. The Goldman Sachs Group cut their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Finally, Evercore ISI raised their price target on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Citigroup Price Performance

Citigroup stock opened at $69.99 on Tuesday. The firm has a market capitalization of $132.37 billion, a PE ratio of 20.50, a P/E/G ratio of 0.78 and a beta of 1.44. Citigroup Inc. has a 52 week low of $44.56 and a 52 week high of $71.19. The firm’s 50-day simple moving average is $64.56 and its 200 day simple moving average is $62.90. The company has a quick ratio of 0.96, a current 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, beating the consensus estimate of $1.31 by $0.20. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The company had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. During the same quarter in the prior year, the firm earned $1.52 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities research analysts predict that Citigroup Inc. will post 5.85 EPS for the current fiscal year.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s payout ratio is 64.93%.

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.