Principal Financial Group Inc. Purchases 383,534 Shares of Citigroup Inc. (NYSE:C)

Principal Financial Group Inc. boosted its holdings in Citigroup Inc. (NYSE:C) by 11.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,728,261 shares of the company’s stock after acquiring an additional 383,534 shares during the quarter. Principal Financial Group Inc. owned 0.20% of Citigroup worth $233,389,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. POM Investment Strategies LLC bought a new stake in Citigroup during the second quarter valued at approximately $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Citigroup during the 3rd quarter worth $28,000. Beacon Capital Management LLC grew its position in shares of Citigroup by 85.5% during the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after acquiring an additional 212 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Citigroup in the 2nd quarter worth $31,000. Finally, Triad Wealth Partners LLC bought a new position in Citigroup in the 2nd quarter worth $32,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Performance

C stock opened at $68.09 on Friday. The firm has a market cap of $129.90 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 0.69 and a beta of 1.44. Citigroup Inc. has a twelve month low of $41.28 and a twelve month high of $70.09. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. The business’s fifty day simple moving average is $62.17 and its two-hundred day simple moving average is $62.27.

Citigroup (NYSE:C) last released its quarterly earnings data 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 company had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. During the same period in the previous year, the company earned $1.52 EPS. The firm’s quarterly revenue was up .9% on a year-over-year basis. Analysts predict that Citigroup Inc. will post 5.87 earnings per share for the current year.

Citigroup Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Monday, November 4th. Citigroup’s dividend payout ratio is 64.93%.

Analyst Ratings Changes

Several research firms recently issued reports on C. The Goldman Sachs Group reduced their target price on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Argus increased their price objective on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Evercore ISI lifted their target price on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, October 16th. Morgan Stanley cut their price target on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Finally, Bank of America boosted their price objective on Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.06.

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.