Wedmont Private Capital increased its stake in Citigroup Inc. (NYSE:C – Free Report) by 25.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 32,692 shares of the company’s stock after acquiring an additional 6,580 shares during the quarter. Wedmont Private Capital’s holdings in Citigroup were worth $4,007,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Intelligence Driven Advisers LLC boosted its holdings in Citigroup by 4.0% in the 3rd quarter. Intelligence Driven Advisers LLC now owns 4,514 shares of the company’s stock worth $584,000 after buying an additional 175 shares during the last quarter. Journey Retirement Planning & Investment Management LLC lifted its position in shares of Citigroup by 46.0% in the third quarter. Journey Retirement Planning & Investment Management LLC now owns 3,290 shares of the company’s stock valued at $426,000 after acquiring an additional 1,037 shares in the last quarter. BOS Asset Management LLC lifted its position in shares of Citigroup by 2.2% in the third quarter. BOS Asset Management LLC now owns 4,513 shares of the company’s stock valued at $584,000 after acquiring an additional 98 shares in the last quarter. LifeGoal Investments LLC boosted its stake in shares of Citigroup by 69.5% in the third quarter. LifeGoal Investments LLC now owns 3,209 shares of the company’s stock worth $416,000 after acquiring an additional 1,316 shares during the last quarter. Finally, Stableford Capital II LLC increased its position in shares of Citigroup by 3.9% during the third quarter. Stableford Capital II LLC now owns 17,666 shares of the company’s stock worth $2,287,000 after purchasing an additional 670 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.
Trending Headlines about Citigroup
Here are the key news stories impacting Citigroup this week:
- Positive Sentiment: TD Cowen initiated coverage of Citigroup with a “buy” rating and a $150 price target, implying meaningful upside from recent trading levels. The call adds to optimism that Citi can close its valuation gap with larger banking peers.
- Positive Sentiment: Analysts expect third-quarter results to benefit from higher net interest income and strong markets revenue. Investors will also watch for progress on cost reductions, capital returns and the bank’s restructuring efforts. Citigroup Q3 earnings preview
- Positive Sentiment: Commentary on Citi’s transformation argues that improved execution could support a substantial rerating, with the stock trading at a discount to competitors despite potential for better returns on capital. Citigroup transformation article
- Positive Sentiment: Citi’s expanded collaboration with Coinbase connects its payment infrastructure to stablecoin and digital-asset rails. Investors may view the initiative as a long-term growth opportunity in corporate payments and e-commerce.
- Neutral Sentiment: Citigroup and JPMorgan both raised their dividends, but comparisons highlight Citi’s history of sharply reducing payouts during periods of stress. The issue is relevant for income-focused investors even though the latest dividend increase is supportive.
- Neutral Sentiment: A recent analysis questions whether Citi’s roughly 238% three-year share-price gain is fully supported by sustainable improvements in profitability and capital efficiency, raising the possibility that some favorable expectations are already reflected in the stock. Citigroup valuation analysis
- Negative Sentiment: UBS lowered its Citigroup price target to $139, signaling more limited upside than the $150 TD Cowen target and creating a mixed analyst backdrop.
- Negative Sentiment: Broader banking commentary warns that sharply rising bond yields can pressure securities portfolios, funding costs and credit conditions ahead of third-quarter earnings. Weaker consumer spending, including a reported decline in luxury purchases on credit cards, could also weigh on card-related activity.
Citigroup Stock Performance
Citigroup (NYSE:C – Get Free Report) last issued its quarterly earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.74 by $0.41. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The firm had revenue of $24.77 billion during the quarter, compared to analysts’ expectations of $23.74 billion. During the same quarter in the prior year, the business earned $1.96 EPS. Citigroup’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, equities research analysts expect that Citigroup Inc. will post 11.19 earnings per share for the current year.
Citigroup Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 3rd were given a $0.67 dividend. This is a boost from Citigroup’s previous quarterly dividend of $0.60. The ex-dividend date was Monday, August 3rd. This represents a $2.68 annualized dividend and a yield of 2.1%. Citigroup’s payout ratio is presently 28.94%.
Analyst Ratings Changes
Several research analysts recently commented on the company. Weiss Ratings downgraded Citigroup from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, October 2nd. Bank of America increased their target price on shares of Citigroup from $170.00 to $176.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Wells Fargo & Company boosted their price target on shares of Citigroup from $162.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, June 18th. JPMorgan Chase & Co. cut their price objective on shares of Citigroup from $149.00 to $147.00 and set an “overweight” rating for the company in a report on Friday, October 2nd. Finally, UBS Group lowered their target price on Citigroup from $142.00 to $139.00 and set a “neutral” rating on the stock in a report on Monday. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $151.28.
Check Out Our Latest Stock Analysis on C
Citigroup Profile
Citigroup Inc is a global financial services company headquartered in New York City and listed on the New York Stock Exchange under the symbol C. Through its subsidiaries and businesses, Citi provides banking, lending, investment, payments, wealth management and other financial services to consumers, businesses, governments and institutional clients.
Citi’s principal businesses include Services, which supports institutional clients with treasury, trade, securities services and related solutions; Markets, which provides sales, trading, research and financing services; Banking, which offers investment banking and corporate banking; and Wealth, which provides private banking and wealth management.
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