Shell Asset Management Co. Takes Position in Citigroup Inc. (NYSE:C)

Shell Asset Management Co. acquired a new position in shares of Citigroup Inc. (NYSE:C) in the first quarter, Holdings Channel reports. The institutional investor acquired 6,564 shares of the company’s stock, valued at approximately $415,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its holdings in shares of Citigroup by 18.4% in the 1st quarter. Bank of New York Mellon Corp now owns 29,756,568 shares of the company’s stock valued at $1,881,805,000 after buying an additional 4,620,867 shares during the period. Fisher Asset Management LLC lifted its position in shares of Citigroup by 8.0% during the fourth quarter. Fisher Asset Management LLC now owns 24,755,277 shares of the company’s stock worth $1,273,411,000 after purchasing an additional 1,836,283 shares in the last quarter. Putnam Investments LLC boosted its stake in shares of Citigroup by 7.9% in the fourth quarter. Putnam Investments LLC now owns 17,775,952 shares of the company’s stock valued at $914,395,000 after purchasing an additional 1,300,520 shares during the period. Norges Bank acquired a new position in shares of Citigroup in the fourth quarter valued at approximately $867,599,000. Finally, Pzena Investment Management LLC increased its stake in Citigroup by 1.3% during the 4th quarter. Pzena Investment Management LLC now owns 16,850,636 shares of the company’s stock worth $866,797,000 after buying an additional 223,206 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Up 1.3 %

C opened at $65.20 on Friday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.95. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $67.81. The stock has a market capitalization of $124.37 billion, a P/E ratio of 18.26, a P/E/G ratio of 0.70 and a beta of 1.46. The business has a 50 day simple moving average of $63.06 and a 200-day simple moving average of $59.77.

Citigroup (NYSE:C) last released its earnings results on Friday, July 12th. The company reported $1.52 EPS 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 the consensus estimate of $20.07 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. Citigroup’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.37 earnings per share. On average, equities analysts anticipate that Citigroup Inc. will post 5.84 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders 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 yield of 3.44%. This is an increase from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date is Monday, August 5th. Citigroup’s payout ratio is presently 59.38%.

Analyst Ratings Changes

C has been the topic of a number of recent research reports. Oppenheimer upped their price objective on Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. BMO Capital Markets boosted their target price on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Morgan Stanley boosted their target price on Citigroup from $65.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Royal Bank of Canada increased their price target on shares of Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, June 17th. Finally, Jefferies Financial Group upped their target price on shares of Citigroup from $56.00 to $65.00 and gave the company a “hold” rating in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Citigroup has an average rating of “Moderate Buy” and a consensus price target of $67.25.

About Citigroup

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.