Citigroup Inc. $C Stock: 10Elms LLP Reduces Stake

10Elms LLP lessened its holdings in shares of Citigroup Inc. (NYSE:C) by 99.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 333 shares of the company’s stock after selling 80,868 shares during the period. 10Elms LLP’s holdings in Citigroup were worth $43,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its stake in Citigroup by 3.7% in the second 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. Fisher Asset Management LLC raised its position in shares of Citigroup by 2.0% during the third quarter. Fisher Asset Management LLC now owns 37,172,713 shares of the company’s stock worth $4,813,123,000 after acquiring an additional 716,551 shares during the last quarter. Bank of America Corp DE raised its position in shares of Citigroup by 2.8% during the 1st quarter. Bank of America Corp DE now owns 26,869,012 shares of the company’s stock valued at $3,047,215,000 after acquiring an additional 728,043 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Citigroup during the 2nd quarter valued at $3,244,602,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Citigroup by 10.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,467,857 shares of the company’s stock valued at $1,745,001,000 after purchasing an additional 1,210,006 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Weiss Ratings cut Citigroup from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, October 2nd. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Citigroup in a research note on Wednesday, October 14th. Royal Bank Of Canada reduced their target price on Citigroup from $150.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, October 14th. TD Cowen decreased their target price on Citigroup from $150.00 to $148.00 and set a “buy” rating for the company in a research 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 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.87.

Citigroup News Summary

Investors following C have been watching these news items:

• 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

Citigroup Stock Down 0.0%

NYSE:C opened at $124.04 on Friday. The company has a market cap of $211.56 billion, a PE ratio of 12.10, a PEG ratio of 0.54 and a beta of 1.18. The stock has a 50-day simple moving average of $127.87 and a 200 day simple moving average of $126.82. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.00 and a current ratio of 1.00. Citigroup Inc. has a 52-week low of $95.83 and a 52-week high of $147.96.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, October 13th. The company reported $2.85 EPS for the quarter, topping 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 business had revenue of $23.84 billion for the quarter, compared to analyst estimates of $23.74 billion. During the same quarter in the previous year, the firm posted $1.86 earnings per share. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, sell-side analysts expect that Citigroup Inc. will post 11.44 EPS for the current fiscal year.

Citigroup Announces Dividend

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

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.