Citigroup Inc. $C Stock: Phoenix Financial Ltd. Raises Position

Phoenix Financial Ltd. lifted its stake in shares of Citigroup Inc. (NYSE:C) by 449.7% during the third quarter, Holdings Channel reports. The fund owned 328,744 shares of the company’s stock after purchasing an additional 268,936 shares during the quarter. Phoenix Financial Ltd.’s holdings in Citigroup were worth $42,571,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in C. State Street Corp raised its stake in Citigroup by 3.7% in the 2nd quarter. State Street Corp now owns 80,956,349 shares of the company’s stock valued at $11,199,986,000 after purchasing an additional 2,913,701 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Citigroup by 2.0% in the 3rd quarter. Fisher Asset Management LLC now owns 37,172,713 shares of the company’s stock valued at $4,813,123,000 after purchasing an additional 716,551 shares in the last quarter. Bank of America Corp DE lifted its holdings in Citigroup by 2.8% in the 1st quarter. Bank of America Corp DE now owns 26,869,012 shares of the company’s stock valued at $3,047,215,000 after purchasing an additional 728,043 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Citigroup during the 2nd quarter worth about $3,244,602,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Citigroup by 10.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,467,857 shares of the company’s stock worth $1,745,001,000 after purchasing an additional 1,210,006 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Recent Citigroup Headlines

Investors following C have been watching these headlines:

• Positive Sentiment: Commentary highlighted Citi’s discount to industry peers, improving earnings outlook and ongoing transformation as potential reasons the stock could be attractive. Another report noted shares were up 1.6% since the latest earnings release, though that past performance does not guarantee further gains. Article: C Trades at a Discount to Industry Article: Citigroup Up Since Last Earnings Report
• Positive Sentiment: Citi is redesigning about 100 processes, amid broader banking-sector efforts to adopt AI. If the work improves efficiency, it could support the bank’s transformation goals, although the report did not quantify expected savings. Article: Citi Is Redesigning 100 Processes
• Neutral Sentiment: Citigroup plans to redeem $1 billion of its 4.150% Series Y preferred stock, ending dividend accrual on November 15. The move simplifies its capital structure and may reduce preferred-dividend costs, but the redemption itself does not establish a material benefit to common shareholders. Article: Citigroup Redeems Preferred Stock

Citigroup Trading Down 0.0%

Citigroup stock traded down $0.02 during trading on Friday, hitting $124.04. The company’s stock had a trading volume of 7,625,348 shares, compared to its average volume of 9,236,826. The stock has a market capitalization of $211.56 billion, a price-to-earnings ratio of 12.10, a P/E/G ratio of 0.54 and a beta of 1.18. The stock’s fifty day moving average is $127.87 and its 200 day moving average is $126.82. Citigroup Inc. has a 1-year low of $95.83 and a 1-year high of $147.96. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.00 and a current ratio of 1.00.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, October 13th. The company reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.19. Citigroup had a return on equity of 10.57% and a net margin of 10.97%. The firm had revenue of $23.84 billion for the quarter, compared to analyst estimates of $23.74 billion. During the same period last year, the company earned $1.86 EPS. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, equities research analysts predict that Citigroup Inc. will post 11.44 EPS for the current year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 2nd will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.2%. Citigroup’s dividend payout ratio is currently 26.15%.

Analysts Set New Price Targets

C has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Citigroup in a report on Wednesday, October 14th. HSBC started coverage on shares of Citigroup in a research note on Monday, September 28th. They set a “buy” rating and a $164.00 price objective on the stock. Wall Street Zen upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday, November 7th. Evercore set a $135.00 target price on shares of Citigroup in a research report on Wednesday, October 14th. Finally, Weiss Ratings cut shares of Citigroup from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Citigroup has an average rating of “Moderate Buy” and an average target price of $150.87.

Citigroup Profile

Citigroup Inc. is a global financial services company headquartered in New York City. Founded in 1812 as the City Bank of New York, it has grown into an international banking organization serving individuals, businesses, governments and institutions. The company provides consumer banking and wealth management services, including deposits, lending, credit cards and investment services. For corporate and institutional clients, Citi offers transaction banking, treasury and trade solutions, securities services, investment banking, and markets and financing services.