Mirae Asset Global Investments Co. Ltd. Has $13.03 Million Holdings in Citigroup Inc. (NYSE:C)

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Citigroup Inc. (NYSE:C) by 23.4% during the third quarter, HoldingsChannel reports. The fund owned 210,560 shares of the company’s stock after buying an additional 39,991 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Citigroup were worth $13,027,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake 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 acquiring an additional 17,525,484 shares in the last quarter. Swedbank AB bought a new position in Citigroup in the first quarter valued at $253,286,000. Acadian Asset Management LLC increased its stake 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 buying an additional 2,100,135 shares during the last quarter. Caxton Associates LP lifted its position in Citigroup by 7,393.3% during the 1st quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock worth $127,453,000 after buying an additional 1,988,494 shares in the last quarter. Finally, DAVENPORT & Co LLC boosted its stake in shares of Citigroup by 1,749.2% during the 1st quarter. DAVENPORT & Co LLC now owns 1,314,323 shares of the company’s stock worth $82,985,000 after buying an additional 1,243,249 shares during the last quarter. 71.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. BMO Capital Markets lifted their target price on Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Piper Sandler boosted their price target on Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Oppenheimer cut their price objective on Citigroup from $92.00 to $91.00 and set an “outperform” rating for the company in a report on Wednesday, October 16th. Barclays boosted their target price on shares of Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group cut their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $71.06.

Citigroup Stock Down 2.0 %

Citigroup stock opened at $61.76 on Monday. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $67.81. The stock has a market cap of $117.80 billion, a P/E ratio of 17.30, a P/E/G ratio of 0.74 and a beta of 1.44. The company’s 50-day moving average price is $61.67 and its two-hundred day moving average price is $61.97. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47.

Citigroup (NYSE:C) last announced its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. The company had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the company earned $1.52 earnings per share. As a group, analysts expect that Citigroup Inc. will post 5.76 EPS for the current year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend is Monday, November 4th. Citigroup’s dividend payout ratio is currently 62.75%.

Citigroup Company 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.