Geode Capital Management LLC Has $3.65 Billion Stock Holdings in Citigroup Inc. $C

Geode Capital Management LLC lifted its holdings in shares of Citigroup Inc. (NYSE:C) by 1.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,957,190 shares of the company’s stock after purchasing an additional 411,894 shares during the period. Geode Capital Management LLC owned 2.30% of Citigroup worth $3,645,084,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in shares of Citigroup by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company’s stock worth $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% during the 1st quarter. Northern Trust Corp now owns 20,427,563 shares of the company’s stock valued at $1,450,153,000 after acquiring an additional 195,013 shares during the period. Invesco Ltd. boosted its stake in Citigroup by 3.6% during the first quarter. Invesco Ltd. now owns 16,839,915 shares of the company’s stock worth $1,195,466,000 after acquiring an additional 592,820 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Citigroup by 179.5% in 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. Finally, Amundi increased its stake in Citigroup by 78.4% in the first quarter. Amundi now owns 13,713,517 shares of the company’s stock valued at $973,523,000 after purchasing an additional 6,026,268 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Price Performance

C opened at $100.73 on Wednesday. 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 company has a market capitalization of $185.43 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 0.83 and a beta of 1.37. The firm’s fifty day moving average price is $99.34 and its two-hundred day moving average price is $89.46.

Citigroup (NYSE:C) last released its quarterly 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 net margin of 8.73% and a return on equity of 7.91%. The company had revenue of $22.09 billion for the quarter, compared to analyst estimates of $20.92 billion. During the same period last year, the firm earned $1.51 earnings per share. The firm’s revenue was up 9.3% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently announced 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 payout ratio is presently 33.71%.

Analyst Ratings Changes

C has been the topic of a number of research analyst reports. Oppenheimer cut their price objective 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. Barclays upped their price target on Citigroup from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. TD Cowen raised their price objective on Citigroup from $105.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Keefe, Bruyette & Woods upped their target price on Citigroup from $112.00 to $118.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Finally, UBS Group reiterated a “neutral” rating and issued a $89.00 target price on shares of Citigroup in a report on Tuesday, July 15th. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock presently 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.