New York Life Investment Management LLC Sells 10,799 Shares of Citigroup Inc. $C

New York Life Investment Management LLC trimmed its position in shares of Citigroup Inc. (NYSE:C) by 3.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 268,180 shares of the company’s stock after selling 10,799 shares during the period. New York Life Investment Management LLC’s holdings in Citigroup were worth $27,220,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in C. Norges Bank bought a new position in Citigroup in the second quarter valued at about $2,455,929,000. Bank of New York Mellon Corp boosted its position in Citigroup by 17.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 28,125,995 shares of the company’s stock worth $2,854,788,000 after buying an additional 4,211,099 shares during the period. Bessemer Group Inc. raised its stake in shares of Citigroup by 6,172.0% during the third quarter. Bessemer Group Inc. now owns 2,904,795 shares of the company’s stock valued at $294,838,000 after acquiring an additional 2,858,481 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Citigroup by 47.4% during the second quarter. Canada Pension Plan Investment Board now owns 4,334,407 shares of the company’s stock worth $368,945,000 after purchasing an additional 1,393,865 shares during the period. Finally, Natixis grew its position in shares of Citigroup by 382.7% in the 2nd quarter. Natixis now owns 1,523,782 shares of the company’s stock valued at $129,704,000 after buying an additional 1,208,089 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Up 6.0%

C stock opened at $122.72 on Monday. Citigroup Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $124.17. The company has a market capitalization of $219.58 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 0.78 and a beta of 1.18. The business’s 50 day moving average price is $115.27 and its two-hundred day moving average price is $104.03. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.99 and a current ratio of 1.00.

Citigroup (NYSE:C) last released its quarterly earnings results on Wednesday, January 14th. The company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.16. The company had revenue of $19.87 billion for the quarter, compared to analyst estimates of $20.99 billion. Citigroup had a return on equity of 8.28% and a net margin of 8.50%.The firm’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.34 earnings per share. As a group, analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Monday, February 2nd will be given a $0.60 dividend. The ex-dividend date of this dividend is Monday, February 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.0%. Citigroup’s dividend payout ratio is currently 34.43%.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup named a joint global coordinator on the UI Boustead REIT Singapore IPO — potential near-term investment‑banking fees and a show of strength in Asia execution. UI Boustead REIT begins premarketing of Singapore IPO, term sheet shows
• Positive Sentiment: Reports say Citigroup aims to resolve consent orders this year — if completed, that reduces regulatory and capital uncertainty that has weighed on the stock. Citigroup seeks to resolve consent orders this year – report
• Neutral Sentiment: Analysis of Citi’s valuation notes recent preferred stock and bond issuances are reshaping its capital mix — could bolster buffers but may change EPS/capital metrics; impact depends on sizing and investor reception. A Look At Citigroup (C) Valuation As New Preferred Stock And Bond Issuances Reshape Its Capital Mix
• Neutral Sentiment: Citi research reduced its price target on Coinbase — a reminder that Citi’s analyst views influence market narratives, but this is not a direct driver of Citi’s fundamentals. Citi cuts Coinbase price target to $400 after stock’s 65% plunge from record high
• Negative Sentiment: Commercial real estate stress: U.S. office CMBS delinquency rate hit a record high (11.7%) — rising CRE defaults and refinancing strain are a potential credit risk for large banks with corporate CRE exposure, including Citi. Commercial Real Estate Shock as Office CMBS Defaults Hit 11.7%

Analyst Ratings Changes

C has been the topic of a number of analyst reports. Morgan Stanley upped their price objective on shares of Citigroup from $134.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. Bank of America increased their target price on shares of Citigroup from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. TD Cowen reaffirmed a “hold” rating on shares of Citigroup in a research note on Wednesday, January 7th. Barclays upped their price objective on shares of Citigroup from $115.00 to $146.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Citigroup in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and an average target price of $125.56.

Citigroup Profile

Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.

Citi’s principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.