QRG Capital Management Inc. increased its holdings in shares of Citigroup Inc. (NYSE:C – Free Report) by 7.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 404,784 shares of the company’s stock after purchasing an additional 28,171 shares during the period. QRG Capital Management Inc.’s holdings in Citigroup were worth $56,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. State Street Corp grew its position in Citigroup by 3.7% during the 2nd quarter. State Street Corp now owns 80,956,349 shares of the company’s stock worth $11,199,986,000 after purchasing an additional 2,913,701 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Citigroup by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 43,252,372 shares of the company’s stock valued at $5,036,712,000 after buying an additional 189,548 shares during the period. Franklin Resources Inc. boosted its stake in shares of Citigroup by 4.0% in the fourth quarter. Franklin Resources Inc. now owns 34,196,783 shares of the company’s stock worth $3,990,422,000 after buying an additional 1,326,224 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Citigroup in the second quarter worth about $3,244,602,000. Finally, Bank of America Corp DE grew its holdings in Citigroup by 2.8% during the first quarter. Bank of America Corp DE now owns 26,869,012 shares of the company’s stock worth $3,047,215,000 after acquiring an additional 728,043 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.
Citigroup Price Performance
Shares of Citigroup stock traded down $0.60 on Wednesday, hitting $131.87. The company’s stock had a trading volume of 8,734,603 shares, compared to its average volume of 12,697,355. The company has a market capitalization of $224.92 billion, a price-to-earnings ratio of 14.24, a price-to-earnings-growth ratio of 0.61 and a beta of 1.12. Citigroup Inc. has a 1 year low of $93.66 and a 1 year high of $147.96. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a fifty day moving average price of $134.23 and a 200-day moving average price of $129.46.
Citigroup Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 3rd were given a dividend of $0.67 per share. This is a positive change from Citigroup’s previous quarterly dividend of $0.60. The ex-dividend date was Monday, August 3rd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.0%. Citigroup’s payout ratio is 28.94%.
Analyst Upgrades and Downgrades
C has been the subject of several recent research reports. Argus set a $150.00 price target on Citigroup in a research report on Wednesday, July 15th. Zacks Research lowered Citigroup from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 14th. Evercore set a $143.00 price objective on shares of Citigroup in a research note on Monday, July 6th. Bank of America lifted their target price on shares of Citigroup from $170.00 to $176.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Finally, Weiss Ratings upgraded shares of Citigroup from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $145.22.
Check Out Our Latest Report on C
Key Stories Impacting Citigroup
Here are the key news stories impacting Citigroup this week:
- Positive Sentiment: Citigroup launched Citi Commerce Media, a platform that uses transaction data from more than 70 million U.S. customers and 6.5 billion annual transactions to deliver targeted advertising and offers. The initiative could create a new, higher-margin revenue stream for the consumer cards business. Citi Unveils Citi Commerce Media
- Positive Sentiment: Citi said it will redeem €1.5 billion of fixed-rate/floating-rate notes due in 2027 on October 8. The move represents proactive liability management and eliminates future refinancing exposure, though the cash outlay limits the immediate financial benefit. Citigroup Announces Notes Redemption
- Neutral Sentiment: Recent Citi-related activity—including forecasts on Micron and Alibaba and the downgrade of Boston Scientific—highlights the strength of its research and investment-banking franchise, but these analyst actions have little direct effect on Citigroup’s earnings outlook. Citigroup Downgrades Boston Scientific
- Negative Sentiment: U.S. card delinquencies and net charge-offs rose sequentially in August across major issuers. Although levels remained below those of a year earlier, the increase signals emerging consumer-credit pressure that could raise provisions and weigh on Citi’s cards profitability. U.S. Card Issuers Delinquencies and Charge-Offs
- Negative Sentiment: Federal Reserve officials continue to warn that persistent inflation may require a more restrictive policy stance. Higher rates can support lending margins, but they also increase funding costs, slow economic activity and heighten credit risks. Fed’s Collins Flags Inflation Risks
Citigroup Company Profile
Citigroup Inc (NYSE:C) is a global financial services company headquartered in New York City. Through its businesses, Citi provides banking, lending, credit card, wealth management, investment banking, securities, markets and treasury services to individuals, businesses, financial institutions and governments.
The company’s operations include U.S. Personal Banking, which offers consumer banking, credit cards and lending products; Wealth Management, which serves affluent and high-net-worth clients; and its Institutional Clients Group, which provides investment banking, corporate banking, markets, securities services and transaction banking.
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