4,736 Citigroup Inc. $C Shares Sold by M&G PLC

M&G PLC lessened its holdings in Citigroup Inc. (NYSE:C) by 1.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 338,402 shares of the company’s stock after selling 4,736 shares during the period. M&G PLC’s holdings in Citigroup were worth $43,654,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Compass Financial Management LLC purchased a new position in Citigroup during the 2nd quarter worth $898,000. Andra AP fonden grew its stake in shares of Citigroup by 22.3% in the 2nd quarter. Andra AP fonden now owns 274,600 shares of the company’s stock worth $38,433,000 after acquiring an additional 50,100 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings in shares of Citigroup by 30.7% in the second quarter. Concurrent Investment Advisors LLC now owns 131,946 shares of the company’s stock valued at $18,467,000 after purchasing an additional 31,007 shares during the last quarter. Saudi Central Bank raised its holdings in shares of Citigroup by 80.8% in the second quarter. Saudi Central Bank now owns 119,392 shares of the company’s stock valued at $16,710,000 after purchasing an additional 53,348 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Citigroup by 3.7% during the second quarter. State Street Corp now owns 80,956,349 shares of the company’s stock valued at $11,199,986,000 after purchasing an additional 2,913,701 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

C has been the subject of several research reports. Truist Financial reduced their price target on shares of Citigroup from $158.00 to $154.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. Argus set a $150.00 price target on shares of Citigroup in a research note on Wednesday, July 15th. TD Cowen cut their price objective on shares of Citigroup from $150.00 to $148.00 and set a “buy” rating for the company in a report on Wednesday, October 14th. Royal Bank Of Canada reduced their price objective on shares of Citigroup from $150.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, October 14th. Finally, Wall Street Zen raised shares of Citigroup from a “hold” rating to a “buy” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $150.87.

Citigroup News Roundup

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 Trading Up 2.5%

Shares of Citigroup stock 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 company has a market cap 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 company’s 50-day moving average price is $128.71 and its 200-day moving average price is $126.64.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, October 13th. The company reported $2.85 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 analysts’ expectations 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 in the previous year, the company earned $1.86 earnings per share. On average, equities analysts expect that Citigroup Inc. will post 11.44 earnings per share for the current fiscal year.

Citigroup Announces Dividend

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

Citigroup Company Profile

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.