Citigroup Inc. $C Stake Cut by Inspire Trust Co. N.A.

Inspire Trust Co. N.A. cut its stake in Citigroup Inc. (NYSE:C) by 26.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,000 shares of the company’s stock after selling 18,000 shares during the quarter. Inspire Trust Co. N.A.’s holdings in Citigroup were worth $6,345,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on C. Royal Bank Of Canada cut their price target on shares of Citigroup from $150.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 14th. Truist Financial lowered their target price on shares of Citigroup from $158.00 to $154.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. Argus set a $150.00 price target on shares of Citigroup in a research note on Wednesday, July 15th. Loop Capital set a $155.00 price target on Citigroup in a report on Tuesday, October 13th. Finally, Zacks Research cut shares of Citigroup from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 14th. One 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 company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.87.

Trending Headlines about 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

Citigroup Trading Up 0.3%

Shares of C stock opened at $122.29 on Wednesday. The stock has a market cap of $208.58 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 0.54 and a beta of 1.18. The firm’s 50 day moving average price is $128.52 and its two-hundred day moving average price is $126.67. Citigroup Inc. has a fifty-two week low of $95.83 and a fifty-two week high of $147.96. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.78.

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

Citigroup Announces Dividend

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

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.