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

Canada Pension Plan Investment Board raised its stake in Citigroup Inc. (NYSE:C) by 15.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,738,454 shares of the company’s stock after buying an additional 365,140 shares during the period. Canada Pension Plan Investment Board owned about 0.14% of Citigroup worth $173,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of C. Gryphon Financial Partners LLC lifted its stake in Citigroup by 215.7% in the fourth quarter. Gryphon Financial Partners LLC now owns 15,561 shares of the company’s stock worth $800,000 after acquiring an additional 10,632 shares during the period. Corient Private Wealth LLC lifted its position in shares of Citigroup by 1.8% in the 4th quarter. Corient Private Wealth LLC now owns 398,801 shares of the company’s stock worth $20,514,000 after purchasing an additional 7,139 shares during the period. CreativeOne Wealth LLC bought a new position in shares of Citigroup during the fourth quarter valued at approximately $264,000. EverSource Wealth Advisors LLC increased its holdings in Citigroup by 17.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,220 shares of the company’s stock valued at $217,000 after buying an additional 628 shares during the period. Finally, Frazier Financial Advisors LLC bought a new position in Citigroup in the fourth quarter worth approximately $29,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Price Performance

Shares of NYSE C opened at $62.11 on Friday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market capitalization of $118.47 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 0.62 and a beta of 1.45. The firm’s 50 day simple moving average is $61.30 and its 200-day simple moving average is $61.46. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $67.81.

Citigroup (NYSE:C) last released its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. The company had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.37 earnings per share. Analysts expect that Citigroup Inc. will post 5.81 EPS for the current year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were paid a $0.56 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.24 dividend on an annualized basis and a yield of 3.61%. This is a boost from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio (DPR) is currently 62.75%.

Wall Street Analysts Forecast Growth

C has been the topic of a number of analyst reports. Evercore ISI lifted their price target on Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a report on Wednesday, July 3rd. Morgan Stanley boosted their target price on shares of Citigroup from $66.00 to $79.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. The Goldman Sachs Group lowered their price target 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. Royal Bank of Canada increased their target price on shares of Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, June 17th. Finally, Argus lifted their price target on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.25.

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.