Knights of Columbus Asset Advisors LLC reduced its holdings in Citigroup Inc. (NYSE:C – Free Report) by 27.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 70,935 shares of the company’s stock after selling 26,621 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Citigroup were worth $9,185,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Mesirow Financial Investment Management Inc. lifted its holdings in Citigroup by 12.1% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 26,597 shares of the company’s stock worth $3,444,000 after buying an additional 2,861 shares during the period. Keybank National Association OH increased its stake in shares of Citigroup by 2.2% in the third quarter. Keybank National Association OH now owns 62,030 shares of the company’s stock valued at $8,032,000 after buying an additional 1,334 shares during the period. Csenge Advisory Group increased its stake in shares of Citigroup by 2.6% in the third quarter. Csenge Advisory Group now owns 12,352 shares of the company’s stock valued at $1,599,000 after buying an additional 313 shares during the period. DMKC Advisory Services LLC raised its position in shares of Citigroup by 8.2% during the third quarter. DMKC Advisory Services LLC now owns 21,900 shares of the company’s stock worth $2,836,000 after acquiring an additional 1,668 shares during the last quarter. Finally, 71 West Capital Partners raised its position in shares of Citigroup by 2.9% during the third quarter. 71 West Capital Partners now owns 10,642 shares of the company’s stock worth $1,378,000 after acquiring an additional 303 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on C shares. JPMorgan Chase & Co. lifted their price objective on Citigroup from $147.00 to $148.50 and gave the stock an “overweight” rating in a research note on Friday, October 30th. TD Cowen reduced their target price on Citigroup from $150.00 to $148.00 and set a “buy” rating on the stock in a report on Wednesday, October 14th. Wall Street Zen raised shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday. Argus set a $150.00 price target on shares of Citigroup in a report on Wednesday, July 15th. Finally, HSBC assumed coverage on shares of Citigroup in a report on Monday, September 28th. They set a “buy” rating and a $164.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $150.87.
Read Our Latest Stock Analysis on C
Key Citigroup News
Here are the key news stories impacting Citigroup this week:
- Positive Sentiment: Citigroup is among a group of global banks committing about $270 million to fund a U.S.-based stablecoin issuer for its first five years. The venture could give Citi a role in the growing digital-payments market, though its expected returns and Citi’s individual contribution were not disclosed. Article: Goldman, Citi join global banks in $270 million stablecoin venture
- Positive Sentiment: CEO Jane Fraser said a newly approved brokerage license gives Citi an edge over rivals in China, supporting the bank’s growth ambitions in the market. The opportunity may take time to translate into material results and remains subject to local operating conditions. Article: Citigroup’s Fraser Says China License Gives Bank Edge on Rivals
- Neutral Sentiment: Citi announced it will redeem all $1 billion of its Series Y preferred stock. This is a capital-structure action; the report did not describe a change to the bank’s business outlook. Article: Citigroup Announces Full Redemption of Series Y Preferred Stock
Citigroup Stock Performance
NYSE:C opened at $122.29 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.78. Citigroup Inc. has a twelve month low of $95.83 and a twelve month high of $147.96. The company has a fifty day moving average of $128.52 and a 200-day moving average of $126.67. The firm has a market capitalization of $208.58 billion, a P/E ratio of 11.93, a P/E/G ratio of 0.54 and a beta of 1.18.
Citigroup (NYSE:C – Get Free Report) last issued its earnings results on Tuesday, October 13th. The company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $0.19. The business had revenue of $23.84 billion for the quarter, compared to analyst estimates of $23.74 billion. Citigroup had a net margin of 10.97% and a return on equity of 10.57%. Citigroup’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.86 earnings per share. As a group, sell-side analysts anticipate that Citigroup Inc. will post 11.44 EPS for the current year.
Citigroup Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Monday, November 2nd will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Monday, November 2nd. Citigroup’s payout ratio is 26.15%.
Citigroup Company Profile
Citigroup Inc. is a global financial services company headquartered in New York City. Founded in 1812 as the City Bank of New York, it has grown into an international banking organization serving individuals, businesses, governments and institutions. The company provides consumer banking and wealth management services, including deposits, lending, credit cards and investment services. For corporate and institutional clients, Citi offers transaction banking, treasury and trade solutions, securities services, investment banking, and markets and financing services.
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