Fisher Asset Management LLC Buys 716,551 Shares of Citigroup Inc. $C

Fisher Asset Management LLC raised its stake in shares of Citigroup Inc. (NYSE:C) by 2.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,172,713 shares of the company’s stock after acquiring an additional 716,551 shares during the quarter. Citigroup makes up about 1.4% of Fisher Asset Management LLC’s portfolio, making the stock its 20th biggest position. Fisher Asset Management LLC’s holdings in Citigroup were worth $4,813,123,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp raised its position in shares of Citigroup by 3.7% in the 2nd quarter. State Street Corp now owns 80,956,349 shares of the company’s stock worth $11,199,986,000 after acquiring an additional 2,913,701 shares in the last quarter. Bank of America Corp DE boosted its position in Citigroup by 2.8% during the first quarter. Bank of America Corp DE now owns 26,869,012 shares of the company’s stock valued at $3,047,215,000 after purchasing an additional 728,043 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Citigroup during the second quarter valued at about $3,244,602,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Citigroup by 10.7% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,467,857 shares of the company’s stock valued at $1,745,001,000 after purchasing an additional 1,210,006 shares during the last quarter. Finally, Amundi grew its stake in Citigroup by 3.2% in the first quarter. Amundi now owns 12,126,823 shares of the company’s stock valued at $1,375,303,000 after purchasing an additional 374,840 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on C shares. Zacks Research downgraded shares of Citigroup from a “strong-buy” rating to a “hold” rating in a report on Monday, September 14th. HSBC began coverage on shares of Citigroup in a report on Monday, September 28th. They issued a “buy” rating and a $164.00 price target on the stock. Royal Bank Of Canada reduced their price objective on shares of Citigroup from $150.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, October 14th. Evercore set a $135.00 target price on shares of Citigroup in a research report on Wednesday, October 14th. Finally, Weiss Ratings downgraded shares of Citigroup from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $150.87.

Citigroup Stock Down 0.1%

Shares of C stock opened at $124.09 on Friday. The stock’s fifty day moving average price is $128.15 and its 200 day moving average price is $126.77. Citigroup Inc. has a 1-year low of $95.83 and a 1-year high of $147.96. The company has a market cap of $211.65 billion, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 0.55 and a beta of 1.18. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.00 and a quick ratio of 1.00.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, October 13th. The company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.19. The company had revenue of $23.84 billion during the quarter, compared to analysts’ expectations of $23.74 billion. Citigroup had a return on equity of 10.57% and a net margin of 10.97%. The firm’s revenue was up 7.9% compared to the same quarter last year. During the same period last year, the business posted $1.86 earnings per share. On average, research analysts expect that Citigroup Inc. will post 11.44 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 2nd will be issued a dividend of $0.67 per share. The ex-dividend date is Monday, November 2nd. This represents a $2.68 annualized dividend and a dividend yield of 2.2%. Citigroup’s dividend payout ratio is 26.15%.

Top Citigroup Stories

Investors following C have been watching these stories:

• Positive Sentiment: Citi is redesigning 100 processes as it adopts AI, a potentially meaningful efficiency initiative. The accompanying survey found only 13% of banking professionals say their institutions typically redesign workflows end to end when adopting AI, suggesting Citi’s effort could help distinguish its transformation if it delivers results. Exclusive research: Citi is redesigning 100 processes. What’s stopping others?
• Positive Sentiment: Analyst commentary points to Citi trading at a discount to the industry, with an improving earnings outlook and ongoing business transformation—factors that could support the investment case, though the article does not identify a new company announcement. C Trades at a Discount to Industry: Right Time to Buy the Stock?
• Neutral Sentiment: A post-earnings update says shares were up 1.6% since Citi’s latest report and points investors to earnings estimates for clues about future performance; it offers no fresh results or guidance. Citigroup (C) Up 1.6% Since Last Earnings Report: Can It Continue?

About Citigroup

Citigroup Inc. is a global financial services company headquartered in New York City. Founded in 1812 as the City Bank of New York, it has grown into an international banking organization serving individuals, businesses, governments and institutions. The company provides consumer banking and wealth management services, including deposits, lending, credit cards and investment services. For corporate and institutional clients, Citi offers transaction banking, treasury and trade solutions, securities services, investment banking, and markets and financing services.