Letko Brosseau & Associates Inc. Sells 33,810 Shares of Citigroup Inc. $C

Letko Brosseau & Associates Inc. lessened its stake in Citigroup Inc. (NYSE:C) by 3.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 974,477 shares of the company’s stock after selling 33,810 shares during the quarter. Citigroup makes up 1.6% of Letko Brosseau & Associates Inc.’s holdings, making the stock its 21st biggest position. Letko Brosseau & Associates Inc. owned about 0.05% of Citigroup worth $82,947,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in C. Geode Capital Management LLC increased its stake in shares of Citigroup by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 42,957,190 shares of the company’s stock worth $3,645,084,000 after purchasing an additional 411,894 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Citigroup by 6.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company’s stock valued at $2,917,794,000 after buying an additional 2,539,769 shares during the period. Northern Trust Corp lifted its position in shares of Citigroup by 1.0% in the first quarter. Northern Trust Corp now owns 20,427,563 shares of the company’s stock valued at $1,450,153,000 after buying an additional 195,013 shares during the last quarter. Invesco Ltd. lifted its holdings in Citigroup by 3.6% during the 1st quarter. Invesco Ltd. now owns 16,839,915 shares of the company’s stock valued at $1,195,466,000 after purchasing an additional 592,820 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Citigroup by 179.5% during the first quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company’s stock worth $1,031,790,000 after purchasing an additional 9,334,038 shares during the period. 71.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on C. Zacks Research lowered shares of Citigroup from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Morgan Stanley lifted their price target on Citigroup from $129.00 to $134.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Cowen reissued a “hold” rating and set a $110.00 target price on shares of Citigroup in a report on Wednesday, October 15th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $118.00 price target on shares of Citigroup in a research report on Tuesday, October 14th. Finally, Oppenheimer decreased their target price on shares of Citigroup from $124.00 to $123.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 23rd. Eleven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and an average price target of $107.63.

Citigroup Stock Performance

NYSE C opened at $100.24 on Friday. 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 $179.35 billion, a price-to-earnings ratio of 14.08, a P/E/G ratio of 0.83 and a beta of 1.37. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.62. The firm’s 50 day simple moving average is $99.66 and its 200 day simple moving average is $90.00.

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

Citigroup Dividend Announcement

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

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.