Prudential Financial Inc. Sells 704,478 Shares of Citigroup Inc. $C

Prudential Financial Inc. cut its holdings in Citigroup Inc. (NYSE:C) by 27.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,836,448 shares of the company’s stock after selling 704,478 shares during the quarter. Prudential Financial Inc. owned approximately 0.10% of Citigroup worth $156,318,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Private Advisory Group LLC raised its position in shares of Citigroup by 20.8% in the 1st quarter. Private Advisory Group LLC now owns 69,581 shares of the company’s stock worth $4,940,000 after purchasing an additional 11,978 shares during the last quarter. Keystone Financial Services purchased a new stake in Citigroup during the 2nd quarter valued at about $216,000. Brighton Jones LLC increased its stake in Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after purchasing an additional 12,499 shares in the last quarter. Hayek Kallen Investment Management raised its holdings in Citigroup by 125.0% in the first quarter. Hayek Kallen Investment Management now owns 15,534 shares of the company’s stock worth $1,103,000 after buying an additional 8,630 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Citigroup by 3.9% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 257,930 shares of the company’s stock worth $21,955,000 after buying an additional 9,644 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 a number of recent analyst reports. Bank of America increased their price target on shares of Citigroup from $115.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $118.00 price objective on shares of Citigroup in a research report on Tuesday, October 14th. Keefe, Bruyette & Woods lifted their target price on Citigroup from $112.00 to $118.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Cowen restated a “hold” rating and issued a $110.00 price target on shares of Citigroup in a research note on Wednesday, October 15th. Finally, Barclays upped their price target on Citigroup from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $107.43.

Citigroup Price Performance

NYSE C opened at $98.68 on Friday. The stock has a market capitalization of $176.56 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 0.83 and a beta of 1.37. Citigroup Inc. has a 1-year low of $55.51 and a 1-year high of $105.59. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.99 and a quick ratio of 0.99. The business’s fifty day moving average price is $99.74 and its 200-day moving average price is $91.02.

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

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 3rd will be given 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 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.