Donald Smith & CO. Inc. Increases Stock Position in Citigroup Inc. (NYSE:C)

Donald Smith & CO. Inc. raised its holdings in shares of Citigroup Inc. (NYSE:C) by 0.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,278,620 shares of the company’s stock after purchasing an additional 10,326 shares during the period. Citigroup makes up about 1.9% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 23rd largest holding. Donald Smith & CO. Inc. owned 0.07% of Citigroup worth $80,042,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. lifted its position in Citigroup by 13.3% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company’s stock valued at $4,653,000 after purchasing an additional 8,593 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Citigroup by 13.4% during the 1st quarter. Lazard Asset Management LLC now owns 201,456 shares of the company’s stock worth $12,739,000 after acquiring an additional 23,774 shares during the last quarter. BDF Gestion bought a new stake in shares of Citigroup during the 2nd quarter valued at $3,861,000. Advisory Services Network LLC lifted its position in Citigroup by 23.8% during the first quarter. Advisory Services Network LLC now owns 66,509 shares of the company’s stock valued at $4,206,000 after purchasing an additional 12,795 shares in the last quarter. Finally, Chesley Taft & Associates LLC bought a new stake in Citigroup during the second quarter valued at about $735,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Up 0.5 %

Shares of C stock traded up $0.35 on Wednesday, hitting $65.04. The stock had a trading volume of 2,287,356 shares, compared to its average volume of 14,312,454. Citigroup Inc. has a one year low of $38.92 and a one year high of $67.81. The business has a 50 day moving average price of $61.79 and a 200 day moving average price of $62.03. The company has a market cap of $124.08 billion, a PE ratio of 18.86, a P/E/G ratio of 0.74 and a beta of 1.44. 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 issued its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. The company had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. Citigroup’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.52 earnings per share. Research analysts anticipate that Citigroup Inc. will post 5.76 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a yield of 3.44%. Citigroup’s payout ratio is 64.93%.

Analyst Upgrades and Downgrades

C has been the topic of several research reports. Barclays lifted their target price on Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Morgan Stanley decreased their price objective on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Evercore ISI raised their target price on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. Argus upped their price target on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, BMO Capital Markets lifted their price objective on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. One investment 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $71.06.

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.