Citigroup Inc. $C Stock: TrinityBridge Ltd Lowers Position

TrinityBridge Ltd decreased its stake in shares of Citigroup Inc. (NYSE:C) by 6.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 71,125 shares of the company’s stock after selling 5,101 shares during the period. TrinityBridge Ltd’s holdings in Citigroup were worth $9,213,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of C. Compass Financial Management LLC purchased a new position in Citigroup in the second quarter valued at approximately $898,000. Andra AP fonden lifted its position in Citigroup by 22.3% during the second quarter. Andra AP fonden now owns 274,600 shares of the company’s stock valued at $38,433,000 after buying an additional 50,100 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in Citigroup by 30.7% during the second quarter. Concurrent Investment Advisors LLC now owns 131,946 shares of the company’s stock worth $18,467,000 after buying an additional 31,007 shares during the period. Saudi Central Bank grew its stake in Citigroup by 80.8% during the second quarter. Saudi Central Bank now owns 119,392 shares of the company’s stock worth $16,710,000 after buying an additional 53,348 shares during the period. Finally, State Street Corp grew its stake in Citigroup by 3.7% during the second quarter. State Street Corp now owns 80,956,349 shares of the company’s stock worth $11,199,986,000 after buying an additional 2,913,701 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on C. HSBC began coverage on shares of Citigroup in a research note on Monday, September 28th. They issued a “buy” rating and a $164.00 target price on the stock. Weiss Ratings lowered shares of Citigroup from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 2nd. Zacks Research cut shares of Citigroup from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 14th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of 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 equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.87.

Citigroup Stock Down 0.4%

NYSE C opened at $122.66 on Wednesday. The stock has a market cap of $209.20 billion, a PE ratio of 11.97, a P/E/G ratio of 0.54 and a beta of 1.18. Citigroup Inc. has a fifty-two week low of $95.83 and a fifty-two week high of $147.96. The business has a 50 day moving average price of $129.67 and a two-hundred day moving average price of $126.53. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 1.78.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, October 13th. The company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.19. The company had revenue of $23.84 billion during the quarter, compared to the consensus estimate of $23.74 billion. Citigroup had a net margin of 10.97% and a return on equity of 10.57%. Citigroup’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the company earned $1.86 earnings per share. As a group, sell-side analysts predict that Citigroup Inc. will post 11.44 EPS for the current fiscal year.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 2nd will be paid a $0.67 dividend. The ex-dividend date is Monday, November 2nd. This represents a $2.68 annualized dividend and a dividend yield of 2.2%. Citigroup’s dividend payout ratio is 26.15%.

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup’s workforce reductions, restructuring and AI investments are intended to generate $2 billion to $2.5 billion in annual savings. If achieved, the savings could support stronger long-term profitability, though execution and restructuring costs remain factors to watch. Will Citigroup’s Cost-Cut Initiatives Boost Long-Term Profitability?
• Positive Sentiment: A report says Citigroup’s price target was raised to $148.50, a favorable analyst signal, although the available details do not provide the rationale for the increase. Citigroup Price Target Raised to $148.50
• Neutral Sentiment: Citigroup is reportedly providing financing for Andrea Del Vecchio’s effort to gain control of Delfin. The financing could generate business for the bank, but the reported item provides no deal terms or expected financial contribution. Market Chatter: Citigroup Provides Financing for Del Vecchio’s Push to Gain Control of Delfin

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.