Nordea Investment Management AB Acquires 1,731,527 Shares of Citigroup Inc. (NYSE:C)

Nordea Investment Management AB increased its holdings in Citigroup Inc. (NYSE:C) by 32.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,115,440 shares of the company’s stock after purchasing an additional 1,731,527 shares during the period. Nordea Investment Management AB owned approximately 0.38% of Citigroup worth $501,994,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Lifestyle Asset Management Inc. boosted its holdings in Citigroup by 4.5% during the third quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock valued at $233,000 after acquiring an additional 160 shares during the period. Grove Bank & Trust boosted its stake in Citigroup by 7.1% during the 3rd quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock valued at $161,000 after purchasing an additional 170 shares during the period. MWA Asset Management increased its position in Citigroup by 1.4% in the 3rd quarter. MWA Asset Management now owns 12,585 shares of the company’s stock worth $788,000 after buying an additional 173 shares during the period. Bridge Creek Capital Management LLC boosted its position in shares of Citigroup by 0.3% during the 3rd quarter. Bridge Creek Capital Management LLC now owns 67,236 shares of the company’s stock valued at $4,209,000 after acquiring an additional 175 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its stake in Citigroup by 9.3% in the third quarter. Venturi Wealth Management LLC now owns 2,048 shares of the company’s stock valued at $128,000 after acquiring an additional 175 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Evercore ISI lifted their price objective on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. Barclays boosted their price target on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their price objective on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Morgan Stanley lowered their target price on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group raised their price objective on shares of Citigroup from $72.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.64.

Citigroup Stock Up 1.5 %

C stock opened at $71.00 on Monday. The business has a 50-day simple moving average of $69.33 and a 200 day simple moving average of $64.65. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. Citigroup Inc. has a 52 week low of $50.51 and a 52 week high of $73.38. The company has a market cap of $134.28 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 0.80 and a beta of 1.45.

Citigroup (NYSE:C) last released 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 net margin of 4.70% and a return on equity of 6.19%. The firm had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. During the same quarter last year, the firm earned $1.52 earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. Sell-side analysts anticipate that Citigroup Inc. will post 5.86 EPS for the current fiscal year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s payout ratio is currently 64.93%.

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.