Summit Global Investments lifted its position in Citigroup Inc. (NYSE:C – Free Report) by 20.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,751 shares of the company’s stock after purchasing an additional 5,686 shares during the quarter. Summit Global Investments’ holdings in Citigroup were worth $4,370,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. MGO One Seven LLC raised its position in shares of Citigroup by 2.3% during the 3rd quarter. MGO One Seven LLC now owns 52,345 shares of the company’s stock valued at $6,778,000 after buying an additional 1,200 shares during the period. Aprio Wealth Management LLC lifted its holdings in Citigroup by 4.1% in the third quarter. Aprio Wealth Management LLC now owns 17,384 shares of the company’s stock valued at $2,251,000 after acquiring an additional 679 shares during the last quarter. Modera Wealth Management LLC lifted its holdings in Citigroup by 34.9% in the third quarter. Modera Wealth Management LLC now owns 4,874 shares of the company’s stock valued at $631,000 after acquiring an additional 1,261 shares during the last quarter. Whelan Financial grew its position in Citigroup by 11.0% in the third quarter. Whelan Financial now owns 2,880 shares of the company’s stock worth $373,000 after acquiring an additional 285 shares during the period. Finally, Brian Low Financial Group LLC grew its position in Citigroup by 11.7% in the third quarter. Brian Low Financial Group LLC now owns 16,144 shares of the company’s stock worth $2,090,000 after acquiring an additional 1,689 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.
Trending Headlines about Citigroup
Here are the key news stories impacting Citigroup this week:
- Positive Sentiment: Debt redemption may improve funding flexibility. Citibank, N.A., Citigroup’s principal banking subsidiary, announced the full redemption of $2 billion of 5.488% notes due 2026 and $500 million of floating-rate notes due 2026. Retiring the obligations could reduce future interest expense and refinancing needs, although it also uses $2.5 billion of cash. Citibank Announces $2 Billion Redemption of Notes
- Positive Sentiment: Recent operating trends remain supportive. Citigroup’s latest reported quarter exceeded consensus estimates on earnings and revenue, while management raised its 2026 return-on-tangible-common-equity target above 11%, improved its net-interest-income outlook, increased the dividend and authorized a new $30 billion buyback. These measures provide potential support for earnings per share and shareholder returns. Citigroup Could Be Undervalued
- Neutral Sentiment: Options activity signals volatility, not direction. Recent options-market activity indicates traders are positioning for a potentially large move in C stock, but the available report does not establish whether investors are predominantly bullish or bearish. Options Traders Betting on a Big Move in Citigroup Stock
- Negative Sentiment: Technical weakness is offsetting the fundamental positives. Shares remain below both their 50-day and 200-day moving averages after a recent pullback. That positioning can encourage short-term selling and profit-taking, particularly while investors await a clearer catalyst beyond the buyback, dividend and guidance upgrades.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on C. Zacks Research cut Citigroup from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 14th. Bank of America upped their price target on Citigroup from $170.00 to $176.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Loop Capital set a $155.00 price target on Citigroup in a report on Tuesday, October 13th. UBS Group set a $148.00 price target on Citigroup in a report on Wednesday, October 14th. Finally, Evercore set a $135.00 price objective on Citigroup in a research report on Wednesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and an average price target of $150.87.
Citigroup Price Performance
Citigroup stock opened at $122.62 on Friday. The company’s 50 day simple moving average is $130.02 and its 200-day simple moving average is $126.44. 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 1 year low of $95.83 and a 1 year high of $147.96. The company has a market capitalization of $209.14 billion, a price-to-earnings ratio of 11.96, a price-to-earnings-growth ratio of 0.54 and a beta of 1.13.
Citigroup (NYSE:C – Get Free Report) last posted its quarterly earnings data on Tuesday, October 13th. The company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.19. The firm had revenue of $23.84 billion during the quarter, compared to analysts’ expectations of $23.74 billion. Citigroup had a net margin of 10.97% and a return on equity of 10.57%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company posted $1.86 EPS. As a group, equities research analysts expect that Citigroup Inc. will post 11.44 earnings per share for the current year.
Citigroup Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Monday, November 2nd will be given a $0.67 dividend. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $2.68 dividend on an annualized basis and a yield of 2.2%. Citigroup’s payout ratio is presently 26.15%.
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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