116,000 Citigroup Inc. $C Shares Sold by Bank Julius Baer & Co. Ltd Zurich

Key Points

• Bank Julius Baer & Co. Ltd Zurich cut its Citigroup stake by 23% in the third quarter, selling 116,000 shares and retaining 388,803 shares valued at approximately $50.4 million. Institutional investors collectively own 71.72% of Citigroup.
• Citigroup reported quarterly EPS of $2.85, surpassing estimates of $2.66, while revenue rose 7.9% year over year to $23.84 billion. The company declared a quarterly dividend of $0.67, representing a 2.2% annualized yield.
• Analysts maintain a generally positive outlook, with Citigroup carrying a consensus “Moderate Buy” rating and an average price target of $150.87, despite some recent downgrades to “Hold.”

Bank Julius Baer & Co. Ltd Zurich lowered its position in Citigroup Inc. (NYSE:C - Free Report) by 23.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 388,803 shares of the company's stock after selling 116,000 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in Citigroup were worth $50,363,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp raised its stake in shares of Citigroup by 3.7% during the 2nd quarter. State Street Corp now owns 80,956,349 shares of the company's stock valued at $11,199,986,000 after buying an additional 2,913,701 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Citigroup by 2.8% in the first quarter. Bank of America Corp DE now owns 26,869,012 shares of the company's stock worth $3,047,215,000 after buying an additional 728,043 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Citigroup in the second quarter worth about $3,244,602,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Citigroup by 10.7% during the second 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 acquiring an additional 1,210,006 shares during the period. Finally, Amundi grew its holdings in Citigroup by 3.2% during the first quarter. Amundi now owns 12,126,823 shares of the company's stock worth $1,375,303,000 after acquiring an additional 374,840 shares during the period. Institutional investors and hedge funds own 71.72% of the company's stock.

Citigroup Stock Up 0.3%

C opened at $123.02 on Tuesday. The company has a market cap of $209.82 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 0.54 and a beta of 1.13. Citigroup Inc. has a twelve month low of $95.83 and a twelve month high of $147.96. The company has a 50-day moving average price of $129.85 and a 200 day moving average price of $126.48. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 1.78.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings data on Tuesday, October 13th. The company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $0.19. Citigroup had a return on equity of 10.57% and a net margin of 10.97%. The company had revenue of $23.84 billion for the quarter, compared to analysts' expectations of $23.74 billion. During the same period in the previous year, the firm posted $1.86 EPS. Citigroup's revenue was up 7.9% compared to the same quarter last year. Sell-side analysts expect that Citigroup Inc. will post 11.44 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 2nd will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Monday, November 2nd. Citigroup's dividend payout ratio (DPR) is 26.15%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Zacks Research downgraded Citigroup from a "strong-buy" rating to a "hold" rating in a report on Monday, September 14th. Evercore set a $135.00 target price on shares of Citigroup in a research note on Wednesday, October 14th. TD Cowen dropped their price target on shares of Citigroup from $150.00 to $148.00 and set a "buy" rating on the stock in a research report on Wednesday, October 14th. UBS Group set a $148.00 price objective on shares of Citigroup in a report on Wednesday, October 14th. Finally, Wall Street Zen cut shares of Citigroup from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Citigroup presently has a consensus rating of "Moderate Buy" and an average price target of $150.87.

Key Headlines Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup is reportedly providing financing for Italian investor Francesco Del Vecchio’s effort to gain control of Delfin. The transaction could generate financing fees and highlights Citi’s role in a major strategic and corporate-finance deal, though the financial impact was not disclosed. Market Chatter: Citigroup Provides Financing for Del Vecchio's Push to Gain Control of Delfin
• Positive Sentiment: Recent analysis said Citigroup’s third-quarter credit-card delinquency ratios were better than feared. Manageable consumer-credit losses could reduce pressure on future provisions and support the durability of Citi’s consumer-banking earnings. Did Better Card Delinquencies Just Shift Citi's Investment Narrative?
• Positive Sentiment: Citigroup’s price target was raised to $148.50, implying meaningful upside from the referenced trading level and reinforcing the view that the shares may be undervalued. Citigroup Price Target Raised to $148.50
• Neutral Sentiment: Citigroup appointed former PwC executive James Flanagan to its board and Audit Committee while expanding leadership focused on artificial intelligence and technology governance. The moves may strengthen oversight, but they do not immediately change earnings. Citigroup Adds James Flanagan to Its Board and Audit Committee
• Neutral Sentiment: Citigroup downgraded Arthur J. Gallagher to Neutral, while initiating coverage of Vusiongroup with a Buy rating. These research actions may affect those companies but have no direct material impact on Citigroup’s fundamentals or stock.

About Citigroup

Citigroup Inc is a global financial services company headquartered in New York City and operates under the Citi brand. The company provides banking, lending, investment, wealth management and other financial services to individuals, businesses, institutions and governments.

Citi's consumer offerings include checking and savings accounts, credit cards, mortgages, personal lending and wealth management services. Through its institutional businesses, the company provides investment banking, commercial banking, securities brokerage, markets and trading, cash management, trade finance and custody services.

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