Impax Asset Management Group plc Decreases Stock Position in Citigroup Inc. $C

Impax Asset Management Group plc trimmed its position in shares of Citigroup Inc. (NYSE:C) by 12.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 158,460 shares of the company’s stock after selling 22,551 shares during the quarter. Impax Asset Management Group plc’s holdings in Citigroup were worth $13,488,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in C. Brighton Jones LLC lifted its stake in Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after purchasing an additional 12,499 shares during the last quarter. Sigma Planning Corp raised its holdings in shares of Citigroup by 5.7% in the first quarter. Sigma Planning Corp now owns 16,442 shares of the company’s stock worth $1,167,000 after buying an additional 885 shares during the period. Parcion Private Wealth LLC raised its holdings in shares of Citigroup by 91.2% in the first quarter. Parcion Private Wealth LLC now owns 7,648 shares of the company’s stock worth $543,000 after buying an additional 3,648 shares during the period. Cullen Frost Bankers Inc. grew its holdings in shares of Citigroup by 359.2% in the first quarter. Cullen Frost Bankers Inc. now owns 171,961 shares of the company’s stock worth $12,208,000 after purchasing an additional 134,515 shares during the last quarter. Finally, Napatree Capital LLC increased its stake in Citigroup by 15.7% in the 1st quarter. Napatree Capital LLC now owns 4,388 shares of the company’s stock worth $312,000 after buying an additional 597 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Trading Down 2.1%

Shares of NYSE:C opened at $100.71 on Friday. The business’s 50-day moving average is $99.57 and its 200 day moving average is $89.63. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.99 and a quick ratio of 0.99. Citigroup Inc. has a 1 year low of $55.51 and a 1 year high of $105.59. The firm has a market capitalization of $180.20 billion, a P/E ratio of 14.14, a P/E/G ratio of 0.83 and a beta of 1.37.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, October 14th. The company reported $2.24 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.35. Citigroup had a return on equity of 7.91% and a net margin of 8.73%.The business had revenue of $22.09 billion during the quarter, compared to the consensus estimate of $20.92 billion. During the same quarter last year, the company earned $1.51 earnings per share. The company’s quarterly revenue was up 9.3% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. On average, research analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 3rd will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Monday, November 3rd. Citigroup’s payout ratio is presently 33.71%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on C shares. Zacks Research downgraded shares of Citigroup from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Bank of America raised their price target on Citigroup from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Keefe, Bruyette & Woods upped their price objective on shares of Citigroup from $112.00 to $118.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Cowen reissued a “hold” rating and set a $110.00 target price on shares of Citigroup in a research report on Wednesday, October 15th. Finally, TD Cowen upped their price target on shares of Citigroup from $105.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, October 15th. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $107.63.

About Citigroup

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.