Tower Research Capital LLC TRC Buys 37,677 Shares of Citigroup Inc (NYSE:C)

Tower Research Capital LLC TRC lifted its stake in shares of Citigroup Inc (NYSE:C) by 1,332.3% during the third quarter, HoldingsChannel reports. The firm owned 40,505 shares of the financial services provider’s stock after acquiring an additional 37,677 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Citigroup were worth $2,798,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the company. Nuveen Asset Management LLC increased its holdings in shares of Citigroup by 1,638.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 23,014,050 shares of the financial services provider’s stock worth $1,611,674,000 after acquiring an additional 21,690,409 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Citigroup by 27.8% during the 2nd quarter. Invesco Ltd. now owns 48,104,326 shares of the financial services provider’s stock worth $3,368,746,000 after acquiring an additional 10,457,813 shares during the last quarter. APG Asset Management N.V. increased its holdings in shares of Citigroup by 81.7% during the 2nd quarter. APG Asset Management N.V. now owns 9,426,403 shares of the financial services provider’s stock worth $579,672,000 after acquiring an additional 4,238,700 shares during the last quarter. UBS Asset Management Americas Inc. increased its holdings in shares of Citigroup by 29.4% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 10,228,198 shares of the financial services provider’s stock worth $716,281,000 after acquiring an additional 2,322,201 shares during the last quarter. Finally, Balyasny Asset Management LLC increased its holdings in shares of Citigroup by 287.1% during the 2nd quarter. Balyasny Asset Management LLC now owns 2,585,216 shares of the financial services provider’s stock worth $181,043,000 after acquiring an additional 1,917,339 shares during the last quarter. Institutional investors own 76.63% of the company’s stock.

NYSE C traded down $0.52 on Monday, reaching $75.60. The stock had a trading volume of 6,019,364 shares, compared to its average volume of 14,392,420. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.00 and a quick ratio of 1.01. The firm has a fifty day moving average of $71.02 and a two-hundred day moving average of $68.37. Citigroup Inc has a 1-year low of $48.42 and a 1-year high of $76.28. The company has a market cap of $163.37 billion, a P/E ratio of 11.37, a price-to-earnings-growth ratio of 0.85 and a beta of 1.80.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.12. Citigroup had a return on equity of 10.16% and a net margin of 18.28%. The firm had revenue of $18.57 billion for the quarter, compared to analyst estimates of $18.54 billion. During the same period in the prior year, the firm posted $1.73 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. Research analysts predict that Citigroup Inc will post 7.58 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Friday, November 1st. Citigroup’s dividend payout ratio is 30.68%.

In other Citigroup news, insider Michael Whitaker sold 7,500 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $62.03, for a total value of $465,225.00. Following the transaction, the insider now directly owns 93,848 shares of the company’s stock, valued at approximately $5,821,391.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.09% of the company’s stock.

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Citigroup from $77.50 to $84.50 and gave the stock an “overweight” rating in a report on Monday, November 4th. Morgan Stanley set a $78.00 target price on Citigroup and gave the stock a “buy” rating in a report on Friday, August 9th. ValuEngine lowered Citigroup from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Bank of America boosted their target price on Citigroup from $78.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Vining Sparks raised Citigroup to a “buy” rating and set a $80.00 target price on the stock in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $80.57.

Citigroup Company Profile

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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