Axxcess Wealth Management LLC Sells 32,758 Shares of Citigroup Inc. $C

Key Points

• Axxcess Wealth Management cut its Citigroup stake by 60.3% in the third quarter, selling 32,758 shares and retaining 21,598 shares valued at approximately $2.8 million. Institutional investors overall own 71.72% of Citi’s stock.
• Analyst sentiment remains positive but mixed: Citigroup has a consensus “Moderate Buy” rating and an average price target of $150.79, with recent targets including $155 from Loop Capital and $164 from HSBC.
• Citigroup recently beat quarterly expectations, reporting $2.85 EPS and $23.84 billion in revenue, up 7.9% year over year. The company also declared a $0.67 quarterly dividend, equivalent to a 2.2% annual yield.

Axxcess Wealth Management LLC decreased its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 60.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 21,598 shares of the company's stock after selling 32,758 shares during the period. Axxcess Wealth Management LLC's holdings in Citigroup were worth $2,796,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in C. State Street Corp boosted 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 purchasing an additional 2,913,701 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Citigroup during the 2nd quarter valued at $3,244,602,000. Bank of America Corp DE grew its position in shares of Citigroup by 2.8% during 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Citigroup by 10.7% in 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 period. Finally, Amundi increased its holdings in shares of Citigroup by 3.2% in the first quarter. Amundi now owns 12,126,823 shares of the company's stock worth $1,375,303,000 after purchasing an additional 374,840 shares during the period. Hedge funds and other institutional investors own 71.72% of the company's stock.

Analysts Set New Price Targets

C has been the topic of a number of recent analyst reports. Zacks Research downgraded Citigroup from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 14th. Wall Street Zen cut Citigroup from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Loop Capital set a $155.00 target price on Citigroup in a research report on Tuesday, October 13th. Keefe, Bruyette & Woods restated an "outperform" rating on shares of Citigroup in a research note on Wednesday, October 14th. Finally, HSBC started coverage on Citigroup in a report on Monday, September 28th. They issued a "buy" rating and a $164.00 price target on the stock. One research 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. According to MarketBeat, Citigroup presently has an average rating of "Moderate Buy" and a consensus price target of $150.79.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Morgan Stanley reportedly said Citi’s post-earnings decline was unjustified and sees substantial upside, reinforcing the view that the stock’s valuation does not fully reflect its earnings potential. Citi recently exceeded quarterly EPS and revenue expectations, with revenue rising 7.9% year over year. Morgan Stanley says Citigroup's post-earnings drop is unjustified
• Positive Sentiment: Citi will provide Nebius Group with a $3.5 billion, 364-day senior secured bridge facility. The transaction should generate fee and lending income while strengthening Citi’s relationship with the rapidly growing AI-cloud sector; the secured structure helps limit credit risk. Nebius secures $3.5 billion financing facility with Citi
• Positive Sentiment: Citi’s board elected James Flanagan as an independent director on October 21. The appointment may support governance and board oversight, although its immediate financial impact is limited. Citigroup elects James Flanagan as independent director
• Neutral Sentiment: A Citi report found that wealthy Singapore clients increased their assets over the past year, indicating continued demand in the bank’s wealth-management business. The report is encouraging for growth but does not provide a material earnings forecast. Singapore's wealthy clients see growing assets, Citi report says
• Negative Sentiment: The stock remains below its 50-day and 200-day moving averages after investors reduced exposure following earnings. Although Citi beat estimates, the reaction suggests lingering concerns about profitability, capital efficiency and the pace of its broader turnaround.

Citigroup Stock Performance

NYSE:C opened at $122.43 on Friday. Citigroup Inc. has a 1-year low of $95.83 and a 1-year high of $147.96. The company has a market capitalization of $208.81 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 0.54 and a beta of 1.13. The business has a 50 day moving average of $131.60 and a 200 day moving average of $132.16. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.00 and a quick ratio of 0.99.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $23.84 billion for 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%. Citigroup's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $1.86 EPS. On average, sell-side analysts predict that Citigroup Inc. will post 11.42 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm 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. 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%.

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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