Citigroup Inc. $C Shares Sold by Banque Pictet & Cie SA

Key Points

• Banque Pictet & Cie SA reduced its Citigroup stake by 15.2% in the third quarter, selling 9,873 shares and retaining 55,287 shares valued at approximately $7.16 million. Institutional investors still own 71.72% of Citi’s stock.
• Citigroup reported quarterly EPS of $2.85, beating estimates of $2.66, while revenue rose 7.9% year over year to $23.84 billion. The company also increased its quarterly dividend to $0.67 per share, implying a 2.2% annual yield.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $150.79, although some firms have recently lowered their targets.

Banque Pictet & Cie SA reduced its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 15.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,287 shares of the company's stock after selling 9,873 shares during the quarter. Banque Pictet & Cie SA's holdings in Citigroup were worth $7,159,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Aspiriant LLC lifted its holdings in shares of Citigroup by 28.2% during the third quarter. Aspiriant LLC now owns 3,551 shares of the company's stock worth $460,000 after purchasing an additional 781 shares during the period. Shelton Wealth Management LLC boosted its position in Citigroup by 1.5% in the 3rd quarter. Shelton Wealth Management LLC now owns 11,017 shares of the company's stock worth $1,426,000 after purchasing an additional 159 shares in the last quarter. Granite Islands Private Wealth LLC boosted its position in Citigroup by 4.1% in the 3rd quarter. Granite Islands Private Wealth LLC now owns 4,055 shares of the company's stock worth $524,000 after purchasing an additional 158 shares in the last quarter. Riverbend Wealth Management LLC grew its stake in shares of Citigroup by 0.8% during the 3rd quarter. Riverbend Wealth Management LLC now owns 12,157 shares of the company's stock worth $1,574,000 after purchasing an additional 100 shares during the period. Finally, Daytona Street Capital LLC grew its stake in shares of Citigroup by 1.1% during the 3rd quarter. Daytona Street Capital LLC now owns 15,288 shares of the company's stock worth $1,958,000 after purchasing an additional 170 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Citigroup Trading Up 0.9%

Shares of C stock opened at $124.36 on Friday. The company's 50-day moving average price is $132.74 and its 200-day moving average price is $131.77. 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 stock has a market cap of $212.11 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 0.54 and a beta of 1.13. Citigroup Inc. has a twelve month low of $95.00 and a twelve month high of $147.96.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data on Tuesday, October 13th. The company reported $2.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.66 by $0.19. Citigroup had a net margin of 10.97% and a return on equity of 10.57%. The firm had revenue of $23.84 billion during the quarter, compared to analyst estimates of $23.74 billion. During the same quarter in the prior year, the firm posted $1.86 earnings per share. Citigroup's quarterly revenue was up 7.9% on a year-over-year basis. As a group, equities analysts predict that Citigroup Inc. will post 11.34 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 3rd were given a $0.67 dividend. This is an increase from Citigroup's previous quarterly dividend of $0.60. This represents a $2.68 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Monday, August 3rd. Citigroup's dividend payout ratio (DPR) is presently 26.15%.

Analyst Ratings Changes

C has been the subject of a number of recent analyst reports. HSBC began coverage on shares of Citigroup in a report on Monday, September 28th. They issued a "buy" rating and a $164.00 price objective for the company. Keefe, Bruyette & Woods reissued an "outperform" rating on shares of Citigroup in a research note on Wednesday. UBS Group set a $148.00 price target on shares of Citigroup in a report on Wednesday. Loop Capital set a $155.00 price target on shares of Citigroup in a report on Tuesday. Finally, JPMorgan Chase & Co. lowered their price objective on Citigroup from $149.00 to $147.00 and set an "overweight" rating on the stock in a report on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $150.79.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: U.S. officials raised Citigroup’s market-access issues in China during bilateral talks in Bangkok. The discussions followed an agreement tied to regulatory approval, potentially improving Citi’s growth prospects in the Chinese market. U.S. raises Mastercard, Citigroup China market access in bilateral Bangkok talks
• Positive Sentiment: Recent third-quarter results continued to support Citi’s turnaround narrative. The bank reported earnings of $2.85 per share, above the $2.66 consensus estimate, while revenue rose 7.9% year over year to $23.85 billion. Net income reportedly increased 17%, and quarterly revenue reached its highest level in a decade. Citigroup CEO Jane Fraser Says the Bank Is on Front Foot
• Positive Sentiment: Citigroup is reportedly preparing an initial public offering for Banamex, its former Mexican consumer-banking business. A successful separation and IPO could simplify Citi’s operations, unlock value, and allow management to focus on its core businesses. Banamex leadership pitches turnaround ahead of targeted Citi IPO
• Neutral Sentiment: Citi expects the Federal Reserve to raise interest rates by 25 basis points in December after hotter-than-expected inflation. Higher rates may support lending margins, but they could also pressure economic activity, credit quality, and dealmaking. Citi expects Fed to raise rates by 25 basis points
• Negative Sentiment: Royal Bank of Canada cut its price target for Citigroup, adding pressure after the stock’s post-earnings performance. Broader bank shares have also struggled despite earnings beats because investors remain concerned about interest-rate volatility and potentially slowing trading and investment-banking revenue. Citigroup Stock Price Target Cut by Royal Bank of Canada
• Negative Sentiment: Citi allowed employees in Saudi Arabia to work remotely as regional conflict intensified. The move demonstrates business-continuity planning but highlights geopolitical risks that could disrupt local operations and client activity. Why Is Citigroup Letting Saudi Staff Work Remotely?

Citigroup Company Profile

Citigroup Inc is a global financial services company headquartered in New York City and listed on the New York Stock Exchange under the symbol C. Through its subsidiaries and businesses, Citi provides banking, lending, investment, payments, wealth management and other financial services to consumers, businesses, governments and institutional clients.

Citi's principal businesses include Services, which supports institutional clients with treasury, trade, securities services and related solutions; Markets, which provides sales, trading, research and financing services; Banking, which offers investment banking and corporate banking; and Wealth, which provides private banking and wealth management.

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