Swedbank AB Buys 54,782 Shares of Citigroup Inc. (NYSE:C)

Swedbank AB lifted its stake in shares of Citigroup Inc. (NYSE:C) by 1.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,378,833 shares of the company’s stock after acquiring an additional 54,782 shares during the period. Swedbank AB’s holdings in Citigroup were worth $274,115,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in shares of Citigroup by 123.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after purchasing an additional 17,525,484 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Citigroup by 527.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock valued at $158,521,000 after acquiring an additional 2,100,135 shares in the last quarter. Caxton Associates LP raised its holdings in Citigroup by 7,393.3% in the 1st quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock valued at $127,453,000 after acquiring an additional 1,988,494 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in Citigroup by 873.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 2,138,865 shares of the company’s stock valued at $135,262,000 after acquiring an additional 1,919,170 shares in the last quarter. Finally, DAVENPORT & Co LLC raised its holdings in Citigroup by 1,749.2% in the 1st quarter. DAVENPORT & Co LLC now owns 1,314,323 shares of the company’s stock valued at $82,985,000 after acquiring an additional 1,243,249 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

Shares of C traded down $2.97 during midday trading on Tuesday, hitting $63.04. The company’s stock had a trading volume of 24,972,332 shares, compared to its average volume of 14,378,513. Citigroup Inc. has a one year low of $38.17 and a one year high of $67.81. The company’s fifty day simple moving average is $60.85 and its two-hundred day simple moving average is $61.90. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $120.25 billion, a price-to-earnings ratio of 17.85, a price-to-earnings-growth ratio of 0.74 and a beta of 1.44.

Citigroup (NYSE:C) last issued 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 return on equity of 6.26% and a net margin of 4.95%. The company had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. During the same quarter last year, the company posted $1.52 EPS. The company’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, equities analysts expect that Citigroup Inc. will post 5.76 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a $0.56 dividend. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.24 annualized dividend and a dividend yield of 3.55%. Citigroup’s dividend payout ratio (DPR) is presently 62.75%.

Analyst Ratings Changes

Several research firms have commented on C. Morgan Stanley upped their price target on Citigroup from $79.00 to $86.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Argus upped their price target on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 15th. Evercore ISI increased their target price on Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a report on Wednesday, July 3rd. Oppenheimer increased their price target on Citigroup from $87.00 to $92.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Finally, The Goldman Sachs Group dropped their price objective on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $70.33.

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.