Tredje AP fonden Trims Position in Citigroup Inc. $C

Tredje AP fonden lessened its position in shares of Citigroup Inc. (NYSE:C) by 73.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 157,559 shares of the company’s stock after selling 426,041 shares during the quarter. Tredje AP fonden’s holdings in Citigroup were worth $13,411,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Onyx Bridge Wealth Group LLC grew its holdings in Citigroup by 3.6% during the second quarter. Onyx Bridge Wealth Group LLC now owns 3,117 shares of the company’s stock valued at $265,000 after purchasing an additional 109 shares during the period. Secure Asset Management LLC grew its holdings in Citigroup by 3.7% during the second quarter. Secure Asset Management LLC now owns 3,290 shares of the company’s stock valued at $280,000 after purchasing an additional 118 shares during the period. Golden State Equity Partners grew its holdings in Citigroup by 0.6% during the second quarter. Golden State Equity Partners now owns 21,634 shares of the company’s stock valued at $1,842,000 after purchasing an additional 122 shares during the period. Wedmont Private Capital grew its holdings in Citigroup by 0.5% during the second quarter. Wedmont Private Capital now owns 23,706 shares of the company’s stock valued at $2,034,000 after purchasing an additional 129 shares during the period. Finally, RDA Financial Network grew its holdings in Citigroup by 3.4% during the second quarter. RDA Financial Network now owns 3,940 shares of the company’s stock valued at $335,000 after purchasing an additional 130 shares during the period. Institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on C shares. Barclays boosted their price target on Citigroup from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. UBS Group reissued a “neutral” rating and set a $89.00 price target on shares of Citigroup in a report on Tuesday, July 15th. The Goldman Sachs Group reissued a “buy” rating and set a $118.00 price target on shares of Citigroup in a report on Tuesday, October 14th. Oppenheimer dropped their price objective on Citigroup from $124.00 to $123.00 and set an “outperform” rating for the company in a research note on Tuesday, September 23rd. Finally, Bank of America upped their price objective on Citigroup from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and an average price target of $107.63.

Citigroup Price Performance

Shares of Citigroup stock opened at $101.42 on Friday. The stock has a 50 day moving average of $98.62 and a 200 day moving average of $87.51. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $105.59. The firm has a market cap of $186.69 billion, a PE ratio of 14.24, a PEG ratio of 0.83 and a beta of 1.37. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.62.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, October 14th. The company reported $1.86 EPS for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.03). Citigroup had a net margin of 8.73% and a return on equity of 7.91%. The firm had revenue of $22.09 billion for the quarter, compared to the consensus estimate of $20.92 billion. During the same period in the previous year, the company posted $1.51 earnings per share. Citigroup’s quarterly revenue was up 9.3% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. On average, research analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 3rd will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, November 3rd. Citigroup’s dividend payout ratio (DPR) is presently 33.71%.

About Citigroup

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.