Citigroup Inc. $C Stock Sold by Kelleher Financial Advisors

Kelleher Financial Advisors decreased its position in Citigroup Inc. (NYSE:C) by 51.7% during the 3rd quarter, Holdings Channel reports. The fund owned 7,137 shares of the company’s stock after selling 7,635 shares during the quarter. Kelleher Financial Advisors’ holdings in Citigroup were worth $924,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. 3Chopt Investment Partners LLC lifted its position in shares of Citigroup by 17.2% during the 3rd quarter. 3Chopt Investment Partners LLC now owns 18,588 shares of the company’s stock worth $2,407,000 after purchasing an additional 2,725 shares during the last quarter. Rakuten Investment Management Inc. grew its stake in shares of Citigroup by 8.6% during the third quarter. Rakuten Investment Management Inc. now owns 302,912 shares of the company’s stock worth $39,621,000 after purchasing an additional 23,945 shares in the last quarter. AIA Group Ltd grew its stake in shares of Citigroup by 10.4% during the third quarter. AIA Group Ltd now owns 128,091 shares of the company’s stock worth $16,585,000 after purchasing an additional 12,064 shares in the last quarter. Third View Private Wealth LLC increased its holdings in Citigroup by 7.8% in the third quarter. Third View Private Wealth LLC now owns 6,282 shares of the company’s stock valued at $813,000 after buying an additional 454 shares during the last quarter. Finally, Provenance Wealth Advisors LLC increased its holdings in Citigroup by 2,708.6% in the third quarter. Provenance Wealth Advisors LLC now owns 5,224 shares of the company’s stock valued at $676,000 after buying an additional 5,038 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: China approved Citi’s wholly owned securities company, which is expected to offer brokerage, underwriting and research services. The move expands Citi’s presence in China’s capital markets and could create longer-term business opportunities. Why Is Citigroup Building A Bigger China Business Through A New Securities Unit?
• Positive Sentiment: A report on Citi’s workforce reductions, restructuring and AI investments said the initiatives target $2 billion to $2.5 billion in annual savings, which could support profitability if the bank delivers on the plan. Will Citigroup’s Cost-Cut Initiatives Boost Long-Term Profitability?
• Negative Sentiment: Media reports described a police response, including SWAT teams, to a reported shooting at Citi’s Tampa campus and urged the public to stay away. The available report did not establish further details or any effect on Citi’s operations. Citi Tampa shooting report

Citigroup Trading Up 1.6%

Shares of Citigroup stock opened at $124.72 on Thursday. The company has a fifty day simple moving average of $129.50 and a 200-day simple moving average of $126.57. Citigroup Inc. has a 12-month low of $95.83 and a 12-month high of $147.96. 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 stock has a market cap of $212.73 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 0.54 and a beta of 1.18.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, October 13th. The company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.19. Citigroup had a net margin of 10.97% and a return on equity of 10.57%. The firm had revenue of $23.84 billion for the quarter, compared to the consensus estimate of $23.74 billion. During the same period last year, the firm posted $1.86 EPS. The company’s revenue was up 7.9% on a year-over-year basis. On average, equities analysts forecast that Citigroup Inc. will post 11.44 EPS for the current fiscal year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Monday, November 2nd will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 2.1%. The ex-dividend date is Monday, November 2nd. Citigroup’s dividend payout ratio is currently 26.15%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on C shares. Weiss Ratings cut Citigroup from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, October 2nd. UBS Group set a $148.00 price objective on Citigroup in a research report on Wednesday, October 14th. Truist Financial dropped their price objective on Citigroup from $158.00 to $154.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. Royal Bank Of Canada dropped their price objective on Citigroup from $150.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, October 14th. Finally, JPMorgan Chase & Co. raised their target price on Citigroup from $147.00 to $148.50 and gave the stock an “overweight” rating in a research report on Friday, October 30th. 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $150.87.

Citigroup Company 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.