Legacy Financial Independent Advisors LLC acquired a new position in Citigroup Inc. (NYSE:C – Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,531 shares of the company’s stock, valued at approximately $716,000.
Several other hedge funds and other institutional investors have also bought and sold shares of C. State Street Corp lifted its holdings in Citigroup by 3.7% in the second quarter. State Street Corp now owns 80,956,349 shares of the company’s stock valued at $11,199,986,000 after acquiring an additional 2,913,701 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Citigroup in the second quarter worth $3,244,602,000. Bank of America Corp DE increased its stake in Citigroup by 2.8% in the 1st quarter. Bank of America Corp DE now owns 26,869,012 shares of the company’s stock worth $3,047,215,000 after buying an additional 728,043 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Citigroup by 10.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,467,857 shares of the company’s stock valued at $1,745,001,000 after purchasing an additional 1,210,006 shares during the period. Finally, Amundi boosted its position in shares of Citigroup by 3.2% during the first quarter. Amundi now owns 12,126,823 shares of the company’s stock worth $1,375,303,000 after acquiring an additional 374,840 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have issued reports on C. Weiss Ratings downgraded Citigroup from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, October 2nd. TD Cowen cut their target price on Citigroup from $150.00 to $148.00 and set a “buy” rating on the stock in a research note on Wednesday, October 14th. JPMorgan Chase & Co. raised their price target on shares of Citigroup from $147.00 to $148.50 and gave the stock an “overweight” rating in a research note on Friday, October 30th. Truist Financial decreased their price objective on shares of Citigroup from $158.00 to $154.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. Finally, UBS Group set a $148.00 price objective on shares of Citigroup in a research report on Wednesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.87.
Read Our Latest Stock Analysis on Citigroup
Citigroup Stock Down 5.1%
Citigroup stock opened at $118.38 on Friday. The business has a fifty day moving average of $129.20 and a two-hundred day moving average of $126.57. Citigroup Inc. has a twelve month low of $95.83 and a twelve month high of $147.96. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 1.78. The firm has a market cap of $201.91 billion, a P/E ratio of 11.55, a P/E/G ratio of 0.55 and a beta of 1.18.
Citigroup (NYSE:C – Get Free Report) last issued its quarterly earnings data on Tuesday, October 13th. The company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.66 by $0.19. The firm had revenue of $23.84 billion during the quarter, compared to analyst estimates of $23.74 billion. Citigroup had a return on equity of 10.57% and a net margin of 10.97%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.86 EPS. On average, analysts forecast that Citigroup Inc. will post 11.44 earnings per share for the current fiscal year.
Citigroup Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 2nd will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.3%. Citigroup’s payout ratio is 26.15%.
Trending Headlines about Citigroup
Here are the key news stories impacting Citigroup this week:
- Positive Sentiment: China approved Citigroup’s wholly owned securities company, which can provide brokerage, underwriting and research services. The approval expands the bank’s onshore presence and potential access to China’s capital markets. Why Is Citigroup Building a Bigger China Business?
- Neutral Sentiment: Reports documented a sharp drop in Citigroup shares, but did not identify a specific cause. Separate articles about analyst recommendations and investor search interest offered no new earnings, rating or business information that clearly explains the move. Citigroup Drops in a Single Session
- Neutral Sentiment: Federal Reserve and OCC officials reportedly contacted banks after a major Binance hack to ask about unusual activity or service disruptions. The inquiries could lead to greater scrutiny of crypto-related risks, but the reports did not cite a specific issue at Citigroup. Binance Heist Triggers Alarm Among Banking Regulators
- Negative Sentiment: Democrats’ control of both chambers of Congress could slow the administration’s financial deregulation agenda and increase scrutiny of banks. That may weigh on expectations for a more favorable regulatory environment, though the article describes a sector-wide risk rather than a new Citi-specific action. Midterm Election Results: What’s Ahead for Financial Stocks?
Citigroup Profile
Citigroup Inc is a global financial services company headquartered in New York City and operates under the Citi brand. The company provides banking, lending, investment, wealth management and other financial services to individuals, businesses, institutions and governments.
Citi’s consumer offerings include checking and savings accounts, credit cards, mortgages, personal lending and wealth management services. Through its institutional businesses, the company provides investment banking, commercial banking, securities brokerage, markets and trading, cash management, trade finance and custody services.
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