Citigroup Inc. $C Stock Acquired by Phoenix Financial Ltd.

Phoenix Financial Ltd. increased its stake in Citigroup Inc. (NYSE:C) by 449.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 328,744 shares of the company’s stock after purchasing an additional 268,936 shares during the quarter. Phoenix Financial Ltd.’s holdings in Citigroup were worth $42,571,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Paladin Partners LLC acquired a new position in Citigroup during the second quarter worth about $27,000. Financial Freedom LLC acquired a new stake in shares of Citigroup during the 3rd quarter valued at approximately $25,000. Bfsg LLC lifted its position in shares of Citigroup by 130.7% during the 3rd quarter. Bfsg LLC now owns 203 shares of the company’s stock valued at $26,000 after acquiring an additional 115 shares during the period. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Citigroup during the 2nd quarter valued at approximately $29,000. Finally, Balance Wealth Partners LLC purchased a new stake in shares of Citigroup during the 3rd quarter worth approximately $27,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Price Performance

NYSE:C traded down $0.02 during mid-day trading on Friday, hitting $124.04. 7,625,348 shares of the company’s stock traded hands, compared to its average volume of 9,236,826. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $211.56 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 0.54 and a beta of 1.18. The firm’s 50 day simple moving average is $127.87 and its 200 day simple moving average is $126.82. Citigroup Inc. has a 1 year low of $95.83 and a 1 year high of $147.96.

Citigroup (NYSE:C) last announced its quarterly earnings results 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 for 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%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.86 earnings per share. Sell-side analysts expect that Citigroup Inc. will post 11.44 EPS for the current year.

Citigroup Announces Dividend

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

Citigroup News Summary

Here’s some of the latest news about C:

• Positive Sentiment: Commentary highlighted Citi’s discount to industry peers, improving earnings outlook and ongoing transformation as potential reasons the stock could be attractive. Another report noted shares were up 1.6% since the latest earnings release, though that past performance does not guarantee further gains. Article: C Trades at a Discount to Industry Article: Citigroup Up Since Last Earnings Report
• Positive Sentiment: Citi is redesigning about 100 processes, amid broader banking-sector efforts to adopt AI. If the work improves efficiency, it could support the bank’s transformation goals, although the report did not quantify expected savings. Article: Citi Is Redesigning 100 Processes
• Neutral Sentiment: Citigroup plans to redeem $1 billion of its 4.150% Series Y preferred stock, ending dividend accrual on November 15. The move simplifies its capital structure and may reduce preferred-dividend costs, but the redemption itself does not establish a material benefit to common shareholders. Article: Citigroup Redeems Preferred Stock

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Weiss Ratings cut Citigroup from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 2nd. HSBC assumed coverage on Citigroup in a research note on Monday, September 28th. They issued a “buy” rating and a $164.00 price objective for the company. Wall Street Zen raised Citigroup from a “hold” rating to a “buy” rating in a report on Saturday, November 7th. TD Cowen decreased their target price on Citigroup from $150.00 to $148.00 and set a “buy” rating on the stock in a research report on Wednesday, October 14th. Finally, UBS Group set a $148.00 target price on Citigroup in a report on Wednesday, October 14th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $150.87.

Citigroup 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.