4,260 Citigroup Inc. $C Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC trimmed its holdings in Citigroup Inc. (NYSE:C) by 1.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,398 shares of the company’s stock after selling 4,260 shares during the quarter. New York Life Investment Management LLC’s holdings in Citigroup were worth $30,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Grove Bank & Trust increased its stake in shares of Citigroup by 1.8% during the third quarter. Grove Bank & Trust now owns 4,549 shares of the company’s stock valued at $589,000 after purchasing an additional 79 shares in the last quarter. American Trust lifted its holdings in shares of Citigroup by 3.6% during the second quarter. American Trust now owns 2,331 shares of the company’s stock valued at $326,000 after purchasing an additional 80 shares during the last quarter. Invst LLC boosted its position in shares of Citigroup by 0.8% in the 2nd quarter. Invst LLC now owns 9,601 shares of the company’s stock worth $1,344,000 after purchasing an additional 80 shares in the last quarter. Tsfg LLC boosted its position in shares of Citigroup by 4.9% in the 2nd quarter. Tsfg LLC now owns 1,701 shares of the company’s stock worth $238,000 after purchasing an additional 80 shares in the last quarter. Finally, Somerset Trust Co boosted its position in shares of Citigroup by 0.6% in the 2nd quarter. Somerset Trust Co now owns 14,955 shares of the company’s stock worth $2,093,000 after purchasing an additional 82 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

C has been the topic of several recent research reports. Truist Financial cut their price target on Citigroup from $158.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, July 15th. UBS Group set a $148.00 price objective on Citigroup in a research note on Wednesday, October 14th. JPMorgan Chase & Co. boosted their target price on Citigroup from $147.00 to $148.50 and gave the stock an “overweight” rating in a report on Friday, October 30th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Citigroup in a report on Wednesday, October 14th. Finally, Zacks Research cut Citigroup from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 14th. 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, the company has an average rating of “Moderate Buy” and an average price target of $150.87.

Citigroup Stock Up 0.3%

NYSE:C opened at $122.29 on Wednesday. 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 firm has a market cap of $208.58 billion, a P/E ratio of 11.93, 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 firm has a 50-day simple moving average of $128.52 and a two-hundred day simple moving average of $126.67.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, October 13th. The company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the firm posted $1.86 earnings per share. The business’s revenue was up 7.9% on a year-over-year basis. Analysts predict that Citigroup Inc. will post 11.44 earnings per share for the current fiscal year.

Citigroup Announces Dividend

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

Key Headlines Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup is among a group of global banks committing about $270 million to fund a U.S.-based stablecoin issuer for its first five years. The venture could give Citi a role in the growing digital-payments market, though its expected returns and Citi’s individual contribution were not disclosed. Article: Goldman, Citi join global banks in $270 million stablecoin venture
• Positive Sentiment: CEO Jane Fraser said a newly approved brokerage license gives Citi an edge over rivals in China, supporting the bank’s growth ambitions in the market. The opportunity may take time to translate into material results and remains subject to local operating conditions. Article: Citigroup’s Fraser Says China License Gives Bank Edge on Rivals
• Neutral Sentiment: Citi announced it will redeem all $1 billion of its Series Y preferred stock. This is a capital-structure action; the report did not describe a change to the bank’s business outlook. Article: Citigroup Announces Full Redemption of Series Y Preferred Stock

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.