6,531 Citigroup Inc. $C Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its holdings in shares of Citigroup Inc. (NYSE:C) by 0.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 989,066 shares of the company’s stock after selling 6,531 shares during the quarter. Retirement Systems of Alabama owned approximately 0.06% of Citigroup worth $128,064,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Palacios Wealth Management LLC boosted its position in Citigroup by 10.2% in the third quarter. Palacios Wealth Management LLC now owns 5,482 shares of the company’s stock worth $710,000 after purchasing an additional 507 shares during the last quarter. Private Management Group Inc. grew its stake in Citigroup by 0.3% in the 3rd quarter. Private Management Group Inc. now owns 30,372 shares of the company’s stock valued at $3,933,000 after purchasing an additional 92 shares during the period. Joseph Group Capital Management increased its position in shares of Citigroup by 13.6% during the 3rd quarter. Joseph Group Capital Management now owns 810 shares of the company’s stock valued at $105,000 after purchasing an additional 97 shares during the last quarter. Fulcrum Asset Management LLP increased its position in shares of Citigroup by 2,401.1% during the 3rd quarter. Fulcrum Asset Management LLP now owns 6,553 shares of the company’s stock valued at $857,000 after purchasing an additional 6,291 shares during the last quarter. Finally, Griffith & Werner Inc. increased its position in shares of Citigroup by 2.0% during the 3rd quarter. Griffith & Werner Inc. now owns 63,555 shares of the company’s stock valued at $8,229,000 after purchasing an additional 1,221 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: A valuation commentary argues Citigroup shares could be about 41% undervalued based on the bank’s equity returns. This is an analyst-style assessment, not a company forecast, but may support investor optimism about the stock’s valuation. Article: Citigroup Stock Could Be 41% Undervalued On Equity Returns
• Positive Sentiment: CEO Jane Fraser attributed the sharp market sell-off largely to hedge funds’ risk models and said she does not expect it to get worse. Her assessment could ease concerns about prolonged market stress affecting trading and client activity, though it is not a guarantee. Article: Citigroup’s Jane Fraser Says Hedge Funds Drove the Sell-Off
• Neutral Sentiment: Citigroup plans to redeem all $1 billion of its Series Y preferred stock. The announcement does not specify how the redemption will be funded or replaced, so the impact on capital and financing costs is unclear. Article: Citigroup Announces Full Redemption of Series Y Preferred Stock
• Neutral Sentiment: Citigroup replaced David Haldane with Rob Smolen to lead global derivatives and EMEA equities. The change affects a key securities-business leadership role, but the report gave no details suggesting a change in strategy or financial outlook. Article: Citigroup Replaces Equities Executive David Haldane With Rob Smolen
• Neutral Sentiment: Separately, Citi downgraded U.S. equities and technology stocks to neutral, citing investor-positioning risks. This reflects the bank’s market view rather than a change to Citigroup’s own business outlook. Article: Citigroup Downgrades US Equities to Neutral on AI Concerns

Citigroup Stock Up 2.5%

Shares of NYSE C opened at $122.01 on Tuesday. Citigroup Inc. has a 12 month low of $95.83 and a 12 month high of $147.96. The firm has a market capitalization of $208.09 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 0.55 and a beta of 1.18. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 1.78. The business has a 50-day moving average of $128.71 and a 200-day moving average of $126.64.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, October 13th. The company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.19. The business 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 business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.86 EPS. Sell-side analysts expect that Citigroup Inc. will post 11.44 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

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

Analyst Ratings Changes

C has been the topic of a number of recent analyst reports. Truist Financial lowered their target price on Citigroup from $158.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, July 15th. HSBC initiated coverage on shares of Citigroup in a report on Monday, September 28th. They set a “buy” rating and a $164.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on shares of Citigroup from $147.00 to $148.50 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Evercore set a $135.00 target price on shares of Citigroup in a research note on Wednesday, October 14th. Finally, Weiss Ratings downgraded shares of Citigroup from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and an average price target of $150.87.

About Citigroup

Citigroup Inc is a global financial services company headquartered in New York City. Founded in 1812 as the City Bank of New York, it has grown into an international banking organization serving individuals, businesses, governments and institutions.

The company provides consumer banking and wealth management services, including deposits, lending, credit cards and investment services. For corporate and institutional clients, Citi offers transaction banking, treasury and trade solutions, securities services, investment banking, and markets and financing services.

Citi serves clients across the United States and a broad range of international markets, drawing on its global network to support cross-border business and financial activity.