Rakuten Securities Inc. Takes Position in Citigroup Inc. (NYSE:C)

Rakuten Securities Inc. purchased a new stake in shares of Citigroup Inc. (NYSE:C) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 679 shares of the company’s stock, valued at approximately $35,000.

A number of other institutional investors have also recently made changes to their positions in C. Snider Financial Group lifted its position in Citigroup by 96,645.9% during the first quarter. Snider Financial Group now owns 84,494,926 shares of the company’s stock valued at $4,512,000 after purchasing an additional 84,407,589 shares during the period. Geode Capital Management LLC lifted its position in Citigroup by 1.5% during the first quarter. Geode Capital Management LLC now owns 35,179,006 shares of the company’s stock valued at $1,646,775,000 after purchasing an additional 519,202 shares during the period. Morgan Stanley lifted its position in Citigroup by 2.6% during the fourth quarter. Morgan Stanley now owns 25,852,678 shares of the company’s stock valued at $1,169,317,000 after purchasing an additional 666,560 shares during the period. Northern Trust Corp lifted its position in Citigroup by 1.2% during the third quarter. Northern Trust Corp now owns 20,051,311 shares of the company’s stock valued at $824,710,000 after purchasing an additional 232,652 shares during the period. Finally, Pzena Investment Management LLC lifted its position in Citigroup by 3.0% during the third quarter. Pzena Investment Management LLC now owns 16,627,430 shares of the company’s stock valued at $683,886,000 after purchasing an additional 486,952 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on C shares. Barclays increased their price target on shares of Citigroup from $59.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Keefe, Bruyette & Woods increased their price target on shares of Citigroup from $54.00 to $66.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. The Goldman Sachs Group reiterated a “buy” rating on shares of Citigroup in a research report on Monday, April 1st. Wells Fargo & Company reiterated an “overweight” rating and issued a $80.00 price target on shares of Citigroup in a research report on Monday, April 1st. Finally, BMO Capital Markets cut shares of Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 price objective for the company. in a research note on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and a consensus target price of $62.91.

Citigroup Stock Performance

C opened at $58.32 on Friday. The stock has a market capitalization of $111.70 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 0.88 and a beta of 1.52. The company has a fifty day moving average of $58.19 and a 200 day moving average of $51.03. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $63.90. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.95 and a current ratio of 0.95.

Citigroup (NYSE:C) last posted its earnings results on Friday, April 12th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.29. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The company had revenue of $21.10 billion during the quarter, compared to analysts’ expectations of $20.46 billion. During the same period last year, the company posted $1.86 earnings per share. Citigroup’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, sell-side analysts forecast that Citigroup Inc. will post 5.91 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be paid a $0.53 dividend. The ex-dividend date is Friday, May 3rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.64%. Citigroup’s payout ratio is currently 62.72%.

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.