Axecap Investments LLC lifted its stake in Citigroup Inc. (NYSE:C – Free Report) by 215.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,574 shares of the company’s stock after purchasing an additional 24,285 shares during the period. Citigroup accounts for approximately 2.8% of Axecap Investments LLC’s holdings, making the stock its 16th largest position. Axecap Investments LLC’s holdings in Citigroup were worth $4,606,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Whipplewood Advisors LLC purchased a new position in Citigroup during the first quarter valued at $25,000. Paladin Partners LLC bought a new stake in Citigroup during the second quarter valued at about $27,000. IMG Wealth Management Inc. grew its holdings in Citigroup by 197.6% during the first quarter. IMG Wealth Management Inc. now owns 244 shares of the company’s stock valued at $28,000 after purchasing an additional 162 shares during the period. Scarborough Advisors LLC purchased a new stake in Citigroup in the first quarter worth about $29,000. Finally, Pin Oak Investment Advisors Inc. purchased a new stake in Citigroup in the second quarter worth about $29,000. 71.72% of the stock is owned by institutional investors.
Citigroup Stock Up 0.7%
C opened at $122.56 on Wednesday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.99 and a current ratio of 1.00. Citigroup Inc. has a fifty-two week low of $95.00 and a fifty-two week high of $147.96. The firm’s fifty day moving average is $132.20 and its 200 day moving average is $132.05. The stock has a market cap of $209.03 billion, a price-to-earnings ratio of 11.96, a price-to-earnings-growth ratio of 0.53 and a beta of 1.13.
Citigroup (NYSE:C – Get Free Report) last issued its earnings results on Tuesday, October 13th. The company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.19. Citigroup had a net margin of 10.97% and a return on equity of 10.57%. The company had revenue of $23.84 billion during the quarter, compared to the consensus estimate of $23.74 billion. During the same quarter in the prior year, the firm posted $1.86 EPS. Citigroup’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, sell-side analysts forecast that Citigroup Inc. will post 11.42 earnings per share for the current fiscal year.
Citigroup Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 2nd will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Monday, November 2nd. Citigroup’s payout ratio is presently 26.15%.
Citigroup News Roundup
Here are the key news stories impacting Citigroup this week:
- Positive Sentiment: Morgan Stanley views the post-earnings selloff as excessive and reportedly sees approximately 32% upside for Citigroup. The bullish view suggests the bank’s earnings performance and ongoing strategic improvements are not fully reflected in the share price. Morgan Stanley says Citigroup’s post-earnings drop is unjustified
- Positive Sentiment: Citigroup declared a quarterly common-stock dividend of $0.67 per share, payable November 25 to shareholders of record November 2. The annualized payout is $2.68 per share, reinforcing the bank’s shareholder-return appeal. The board also approved dividends for multiple preferred-stock series. Citigroup declares common and preferred stock dividends
- Positive Sentiment: Discussions between U.S. and Chinese officials reportedly covered Citigroup’s access to China’s financial market. Progress on operating permissions could expand the bank’s growth opportunities in a large strategic market. Citigroup is also reshaping its artificial-intelligence leadership, including recruiting senior talent from Google. What Citigroup is signaling with China talks and its AI reset
- Neutral Sentiment: Citigroup launched Citi Commerce Media, using transaction data to help advertisers predict consumer purchases. The initiative could create a new fee or data-related revenue stream, but its financial contribution remains unclear. Citi launches Commerce Media
- Negative Sentiment: The recent earnings-related decline remains an overhang despite Citigroup exceeding quarterly EPS and revenue estimates. Investors may be concerned that the strong results did not justify the bank’s valuation or resolve longer-term execution and profitability questions.
Analysts Set New Price Targets
C has been the topic of several recent research reports. UBS Group set a $148.00 price objective on Citigroup in a research note on Wednesday, October 14th. HSBC started coverage on Citigroup in a research note on Monday, September 28th. They set a “buy” rating and a $164.00 price objective for the company. Royal Bank Of Canada cut their price objective on Citigroup from $150.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, October 14th. Weiss Ratings lowered shares of Citigroup from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 2nd. Finally, Argus set a $150.00 target price on shares of Citigroup in a report on Wednesday, July 15th. One investment 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $150.79.
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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