Glenmede Trust Co. NA Raises Stake in Citigroup Inc. (NYSE:C)

Glenmede Trust Co. NA increased its stake in Citigroup Inc. (NYSE:C) by 8.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 192,927 shares of the company’s stock after purchasing an additional 14,858 shares during the quarter. Glenmede Trust Co. NA’s holdings in Citigroup were worth $12,077,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its stake in shares of Citigroup by 120.6% during the 1st quarter. Cetera Investment Advisers now owns 469,152 shares of the company’s stock worth $29,669,000 after buying an additional 256,527 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Citigroup by 33.6% during the first quarter. EverSource Wealth Advisors LLC now owns 5,637 shares of the company’s stock worth $346,000 after acquiring an additional 1,417 shares during the last quarter. Bright Futures Wealth Management LLC. purchased a new stake in shares of Citigroup in the first quarter valued at about $374,000. Transcend Capital Advisors LLC grew its position in shares of Citigroup by 19.5% in the second quarter. Transcend Capital Advisors LLC now owns 34,814 shares of the company’s stock valued at $2,209,000 after purchasing an additional 5,691 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Citigroup by 57.8% during the 2nd quarter. GAMMA Investing LLC now owns 23,472 shares of the company’s stock worth $1,490,000 after purchasing an additional 8,598 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on C. Wells Fargo & Company increased their target price on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. The Goldman Sachs Group decreased their price objective on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Oppenheimer boosted their target price on shares of Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Barclays raised their price target on shares of Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley lowered their target price on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Citigroup Trading Up 1.0 %

Shares of C opened at $70.87 on Friday. The stock’s 50-day moving average is $65.30 and its two-hundred day moving average is $63.10. The stock has a market cap of $134.03 billion, a PE ratio of 20.54, a P/E/G ratio of 0.78 and a beta of 1.44. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup Inc. has a 12 month low of $45.58 and a 12 month high of $71.19.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. The business had revenue of $20.32 billion for the quarter, compared to analysts’ expectations of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.52 earnings per share. Equities analysts forecast that Citigroup Inc. will post 5.85 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.24 annualized dividend and a dividend yield of 3.16%. Citigroup’s dividend payout ratio is presently 64.93%.

About Citigroup

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.