240,270 Citigroup Inc. $C Shares Sold by Cooke & Bieler LP

Key Points

• Cooke & Bieler LP cut its Citigroup stake by 56.1% in the third quarter, selling 240,270 shares and retaining 188,156 shares valued at approximately $24.4 million.
• Institutional investors remain significant holders, collectively owning 71.72% of Citigroup; State Street, Bank of America, UBS Asset Management and Amundi all increased their positions.
• Citigroup recently exceeded quarterly earnings expectations, reporting $2.85 in EPS and $23.84 billion in revenue, while maintaining a $0.67 quarterly dividend and a consensus analyst rating of “Moderate Buy.”

Cooke & Bieler LP lowered its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 56.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 188,156 shares of the company's stock after selling 240,270 shares during the quarter. Cooke & Bieler LP's holdings in Citigroup were worth $24,362,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its holdings 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 acquiring an additional 2,913,701 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Citigroup during the 2nd quarter worth $3,244,602,000. Bank of America Corp DE boosted its holdings in shares of Citigroup by 2.8% during 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 purchasing an additional 728,043 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of 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 purchasing an additional 1,210,006 shares during the last quarter. Finally, Amundi grew its position in shares of Citigroup by 3.2% in the first quarter. Amundi now owns 12,126,823 shares of the company's stock valued at $1,375,303,000 after purchasing an additional 374,840 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Morgan Stanley views the post-earnings selloff as excessive. The firm reportedly sees approximately 32% upside for Citigroup, arguing that the roughly 6% decline after earnings was not justified. The bullish view could help support a rebound in C shares. Morgan Stanley says Citigroup's post-earnings drop is unjustified
• Positive Sentiment: Citigroup declared a quarterly dividend of $0.67 per share. The payment is scheduled for November 25 for shareholders of record on November 2, representing an annualized dividend of $2.68 and a yield of roughly 2.2%. The continued payout reinforces the bank’s shareholder-return appeal. Citigroup Declares Common Stock Dividend
• Positive Sentiment: Citi is expanding its commercial and advertising capabilities through Citi Commerce Media. The initiative uses transaction insights to help advertisers predict consumer purchases, potentially creating a new fee and data-related revenue opportunity, although the financial impact is not yet quantified. Advertisers Should Stop Chasing Customers, Start Predicting Purchases: Citi’s Mike Venable
• Neutral Sentiment: Citigroup remains involved in strategic discussions over access to China’s financial market and is reorganizing its artificial-intelligence leadership. Progress on market permissions or AI capabilities could improve long-term growth, but the reports provide no immediate earnings impact. What Is Citigroup Signaling With China Talks And Its AI Reset?
• Neutral Sentiment: Citigroup disclosed that its stake in Solvay crossed 3%. The investment is unlikely to materially affect Citigroup’s valuation or near-term operating results. Citigroup Lifts Stake Above 3% in Solvay

Citigroup Price Performance

C stock opened at $123.85 on Thursday. The stock has a 50-day moving average price of $131.93 and a two-hundred day moving average price of $132.11. Citigroup Inc. has a 12-month low of $95.00 and a 12-month high of $147.96. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 1.78. The company has a market cap of $211.24 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 0.54 and a beta of 1.13.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings results on Tuesday, October 13th. The company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.66 by $0.19. The company had revenue of $23.84 billion during the quarter, compared to analyst estimates of $23.74 billion. Citigroup had a return on equity of 10.57% and a net margin of 10.97%. The firm's revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.86 earnings per share. As a group, research analysts predict that Citigroup Inc. will post 11.42 EPS for the current year.

Citigroup Announces Dividend

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 issued a dividend of $0.67 per share. The ex-dividend date is Monday, November 2nd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.2%. Citigroup's payout ratio is presently 26.15%.

Analysts Set New Price Targets

Several research firms recently commented on C. Keefe, Bruyette & Woods reiterated an "outperform" rating on shares of Citigroup in a research note on Wednesday, October 14th. Bank of America raised their price target on Citigroup from $170.00 to $176.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. Zacks Research cut Citigroup from a "strong-buy" rating to a "hold" rating in a report on Monday, September 14th. Weiss Ratings cut Citigroup from a "buy (b+)" rating to a "buy (b)" rating in a report on Friday, October 2nd. Finally, Oppenheimer downgraded shares of Citigroup from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Citigroup has a consensus rating of "Moderate Buy" and a consensus target price of $150.79.

Citigroup Profile

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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