Citigroup Inc. $C Shares Sold by International Assets Investment Management LLC

Key Points

• International Assets Investment Management cut its Citigroup stake by 98.5% in the third quarter, selling 52,372 shares and retaining 820 shares valued at about $106,000.
• Citigroup reported quarterly EPS of $2.85, beating the $2.66 consensus, while revenue rose 7.9% year over year to $23.84 billion.
• Citigroup declared a quarterly dividend of $0.67 per share, equivalent to a 2.2% annualized yield; analysts’ consensus rating was “Moderate Buy,” with an average price target of $150.87.

International Assets Investment Management LLC trimmed its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 98.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 820 shares of the company's stock after selling 52,372 shares during the quarter. International Assets Investment Management LLC's holdings in Citigroup were worth $106,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. State Street Corp increased its position in Citigroup by 3.7% in the second quarter. State Street Corp now owns 80,956,349 shares of the company's stock worth $11,199,986,000 after buying an additional 2,913,701 shares during the period. Bank of America Corp DE grew its position 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 acquiring an additional 728,043 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Citigroup during the second quarter worth about $3,244,602,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Citigroup by 10.7% in the 2nd 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 increased its holdings in shares of Citigroup by 3.2% in the 1st 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 own 71.72% of the company's stock.

Citigroup Price Performance

C stock traded up $0.71 during trading hours on Friday, hitting $119.16. 12,241,255 shares of the stock traded hands, compared to its average volume of 9,474,690. The stock has a 50-day simple moving average of $128.92 and a 200 day simple moving average of $126.60. The company has a market cap of $203.24 billion, a P/E ratio of 11.63, a P/E/G ratio of 0.54 and a beta of 1.18. Citigroup Inc. has a one year low of $95.83 and a one year 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.

Citigroup (NYSE:C - Get Free Report) last issued 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. Citigroup had a net margin of 10.97% and a return on equity of 10.57%. The firm 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 business earned $1.86 earnings per share. Citigroup's revenue for the quarter was up 7.9% compared to the same quarter last year. Equities analysts forecast that Citigroup Inc. will post 11.44 earnings per share for the current year.

Citigroup Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on C. Evercore set a $135.00 price target on Citigroup in a research note on Wednesday, October 14th. Weiss Ratings lowered shares of Citigroup from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday, October 2nd. Zacks Research cut shares of Citigroup from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 14th. Loop Capital set a $155.00 price target on shares of Citigroup in a research report on Tuesday, October 13th. Finally, UBS Group set a $148.00 price target on shares of Citigroup in a research note 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 stock. Based on data from MarketBeat.com, Citigroup presently has a consensus rating of "Moderate Buy" and an average target price of $150.87.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup and DBS are competing to recruit talent for their India operations, including expansion tied to GIFT City. The hiring push points to investment in the region’s growth potential, though the articles do not quantify its expected financial impact. Citigroup, DBS vie for top talent to boost business in India hub
• Positive Sentiment: CEO Jane Fraser said she does not expect the market correction to become deeper or last longer, which may help reassure investors after the recent sell-off. This is a view on the broader market, not a change to Citi’s outlook. Citigroup CEO Jane Fraser on the market correction
• Neutral Sentiment: Citi named Circle its top pick in regulated stablecoins and digital payments. The call reflects Citi’s research activity, but Circle—not Citigroup—is the stock being recommended, so it is not a direct earnings catalyst for C. Citi Names Top Stock in Stablecoin and Digital Payments Space
• Negative Sentiment: Citigroup shares had a sharp decline in the prior session amid a volatile market. The broader backdrop remains uncertain, with post-election policy potentially slowing bank deregulation and increasing scrutiny of financial firms. Citigroup’s recent price decline Midterm election results and financial stocks
• Negative Sentiment: Citi’s strategists say the AI trade could remain under pressure and currently favor European equities over U.S. stocks. That cautious view may weigh on broader market sentiment, though it is not specific to Citi’s own fundamentals. Citi explains why the AI trade may remain under pressure

Citigroup Company 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.

Citi serves clients across the United States and a broad range of international markets, drawing on its global network to support cross-border business and financial activity.

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