Citigroup Inc. $C Stock Position Trimmed by Davis Investment Partners LLC

Davis Investment Partners LLC decreased its position in shares of Citigroup Inc. (NYSE:C) by 66.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,394 shares of the company’s stock after selling 4,732 shares during the quarter. Davis Investment Partners LLC’s holdings in Citigroup were worth $310,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Bfsg LLC lifted its stake in shares of Citigroup by 130.7% during the third quarter. Bfsg LLC now owns 203 shares of the company’s stock valued at $26,000 after acquiring an additional 115 shares during the period. Paladin Partners LLC acquired a new stake in Citigroup in the second quarter worth about $27,000. Balance Wealth Partners LLC acquired a new stake in Citigroup in the third quarter worth about $27,000. IMG Wealth Management Inc. raised its holdings in Citigroup by 197.6% during the 1st quarter. IMG Wealth Management Inc. now owns 244 shares of the company’s stock worth $28,000 after purchasing an additional 162 shares during the last quarter. Finally, Scarborough Advisors LLC bought a new stake in Citigroup during the 1st quarter worth about $29,000. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Up 0.3%

Shares of NYSE C opened at $122.29 on Wednesday. The stock has a market cap of $208.58 billion, a P/E ratio of 11.93, a P/E/G ratio of 0.54 and a beta of 1.18. The firm has a 50 day moving average price of $128.52 and a 200 day moving average price of $126.67. 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 Inc. has a 52-week low of $95.83 and a 52-week high of $147.96.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, October 13th. The company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.66 by $0.19. The firm had revenue of $23.84 billion during the quarter, compared to the consensus estimate of $23.74 billion. Citigroup had a net margin of 10.97% and a return on equity of 10.57%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.86 earnings per share. Analysts expect that Citigroup Inc. will post 11.44 EPS for the current year.

Citigroup Dividend Announcement

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

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup is among a group of global banks committing about $270 million to fund a U.S.-based stablecoin issuer for its first five years. The venture could give Citi a role in the growing digital-payments market, though its expected returns and Citi’s individual contribution were not disclosed. Article: Goldman, Citi join global banks in $270 million stablecoin venture
• Positive Sentiment: CEO Jane Fraser said a newly approved brokerage license gives Citi an edge over rivals in China, supporting the bank’s growth ambitions in the market. The opportunity may take time to translate into material results and remains subject to local operating conditions. Article: Citigroup’s Fraser Says China License Gives Bank Edge on Rivals
• Neutral Sentiment: Citi announced it will redeem all $1 billion of its Series Y preferred stock. This is a capital-structure action; the report did not describe a change to the bank’s business outlook. Article: Citigroup Announces Full Redemption of Series Y Preferred Stock

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Truist Financial cut their target price on shares of Citigroup from $158.00 to $154.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. Weiss Ratings cut shares of Citigroup from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 2nd. UBS Group set a $148.00 price target on shares of Citigroup in a research report on Wednesday, October 14th. Loop Capital set a $155.00 price objective on shares of Citigroup in a research note on Tuesday, October 13th. Finally, Evercore set a $135.00 target price on shares of Citigroup in a report on Wednesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $150.87.

Citigroup Company 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.