440,339 Citigroup Inc. $C Shares Bought by Eurizon Capital SGR S.p.A.

Key Points

• Eurizon Capital SGR increased its Citigroup stake by 22.4%, buying 440,339 shares in the third quarter to hold 2.41 million shares valued at about $312.5 million.
• Citigroup reported quarterly earnings of $2.85 per share, above the $2.66 consensus estimate, while revenue of $23.84 billion rose 7.9% year over year.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $150.87; the company also declared a quarterly dividend of $0.67 per share.

Eurizon Capital SGR S.p.A. lifted its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 22.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,407,078 shares of the company's stock after acquiring an additional 440,339 shares during the quarter. Citigroup makes up approximately 0.8% of Eurizon Capital SGR S.p.A.'s portfolio, making the stock its 21st biggest position. Eurizon Capital SGR S.p.A. owned 0.14% of Citigroup worth $312,513,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Paladin Partners LLC acquired a new position in Citigroup in the 2nd quarter worth about $27,000. Bfsg LLC raised its position in Citigroup by 130.7% in the third quarter. Bfsg LLC now owns 203 shares of the company's stock valued at $26,000 after purchasing an additional 115 shares during the last quarter. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Citigroup during the second quarter valued at about $29,000. Balance Wealth Partners LLC acquired a new stake in shares of Citigroup during the third quarter valued at about $27,000. Finally, Center for Financial Planning Inc. boosted its stake in shares of Citigroup by 78.7% during the third quarter. Center for Financial Planning Inc. now owns 243 shares of the company's stock valued at $31,000 after purchasing an additional 107 shares in the last quarter. Institutional investors own 71.72% of the company's stock.

Key Citigroup News

Here's some of the latest news about C:

• Positive Sentiment: Citi is redesigning 100 processes as it adopts AI, a potentially meaningful efficiency initiative. The accompanying survey found only 13% of banking professionals say their institutions typically redesign workflows end to end when adopting AI, suggesting Citi’s effort could help distinguish its transformation if it delivers results. Exclusive research: Citi is redesigning 100 processes. What’s stopping others?
• Neutral Sentiment: Citi will redeem $1 billion of its 4.15% Series Y preferred stock, ending dividend accrual on November 15. The move simplifies its capital structure, but the report does not establish a material effect on common-share earnings or capital. Citigroup (C) Redeems Preferred Stock
• Neutral Sentiment: A post-earnings update says shares were up 1.6% since Citi’s latest report and points investors to earnings estimates for clues about future performance; it offers no fresh results or guidance. Citigroup (C) Up 1.6% Since Last Earnings Report: Can It Continue?

Citigroup Stock Down 0.1%

Shares of NYSE:C opened at $124.09 on Friday. The firm has a market cap of $211.65 billion, a P/E ratio of 12.11, a P/E/G ratio of 0.55 and a beta of 1.18. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.78. Citigroup Inc. has a 12-month low of $95.83 and a 12-month high of $147.96. The business has a fifty day simple moving average of $128.15 and a 200 day simple moving average of $126.77.

Citigroup (NYSE:C - Get Free Report) last announced its 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. 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 the consensus estimate of $23.74 billion. During the same period in the previous year, the business earned $1.86 EPS. The business's quarterly revenue was up 7.9% compared to the same quarter last year. Analysts predict that Citigroup Inc. will post 11.44 earnings per share for the current year.

Citigroup Announces Dividend

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

Analyst Ratings Changes

C has been the topic of several research reports. Wall Street Zen upgraded Citigroup from a "hold" rating to a "buy" rating in a report on Saturday, November 7th. Zacks Research lowered shares of Citigroup from a "strong-buy" rating to a "hold" rating in a report on Monday, September 14th. JPMorgan Chase & Co. raised their price objective on shares of Citigroup from $147.00 to $148.50 and gave the company an "overweight" rating in a report on Friday, October 30th. UBS Group set a $148.00 target price on shares of Citigroup in a report on Wednesday, October 14th. Finally, Royal Bank Of Canada reduced their target price on shares of Citigroup from $150.00 to $135.00 and set an "outperform" rating on the stock in a report on Wednesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently 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.

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