Citigroup Inc. $C Shares Sold by Pinnacle Associates Ltd.

Key Points

• Pinnacle Associates reduced its Citigroup position by 2.5%, selling 8,275 shares and retaining 323,837 shares valued at approximately $41.9 million. Institutional investors collectively own 71.72% of the company.
• Citigroup reported quarterly EPS of $2.85, beating estimates of $2.66, while revenue reached $23.84 billion, up 7.9% year over year. Analysts maintain a “Moderate Buy” consensus rating with a $150.79 price target.
• The bank declared a $0.67 quarterly dividend, equivalent to $2.68 annually and a 2.2% yield, payable November 25 to shareholders of record November 2.

Pinnacle Associates Ltd. decreased its position in Citigroup Inc. (NYSE:C - Free Report) by 2.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 323,837 shares of the company's stock after selling 8,275 shares during the period. Pinnacle Associates Ltd.'s holdings in Citigroup were worth $41,930,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Paladin Partners LLC bought a new position in Citigroup during the second quarter worth about $27,000. Pin Oak Investment Advisors Inc. bought a new stake in shares of Citigroup in the second quarter worth about $29,000. Whipplewood Advisors LLC bought a new stake in shares of Citigroup in the first quarter worth about $25,000. IMG Wealth Management Inc. raised its position in shares of Citigroup by 197.6% during the first quarter. IMG Wealth Management Inc. now owns 244 shares of the company's stock worth $28,000 after purchasing an additional 162 shares during the period. Finally, Scarborough Advisors LLC acquired a new stake in shares of Citigroup during the first quarter worth about $29,000. Institutional investors own 71.72% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on C. Argus set a $150.00 price objective on Citigroup in a report on Wednesday, July 15th. Weiss Ratings cut Citigroup from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday, October 2nd. Oppenheimer downgraded shares of Citigroup from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 30th. Truist Financial dropped their target price on shares of Citigroup from $158.00 to $154.00 and set a "buy" rating on the stock in a report on Wednesday, July 15th. Finally, Evercore set a $135.00 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 given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $150.79.

Key Headlines Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Morgan Stanley sees significant upside. The firm reportedly believes Citigroup’s recent decline was unjustified and estimates approximately 32% upside, potentially supporting the stock after its roughly 6% post-earnings drop. Morgan Stanley sees 32% Citigroup upside after brutal sell-off
• Positive Sentiment: Dividend declaration provides shareholder support. Citigroup’s board approved a quarterly common-stock dividend of $0.67 per share, payable November 25 to shareholders of record November 2. The board also approved dividends for 12 preferred-stock series, reinforcing the bank’s capital-return profile. Citigroup Declares Common Stock Dividend
• Positive Sentiment: Citi Commerce Media opens a potential growth avenue. The bank is using transaction data to help advertisers predict future purchases, creating a new commercial-data and advertising business that could diversify revenue beyond traditional banking. Advertisers Should Stop Chasing Customers, Start Predicting Purchases
• Neutral Sentiment: China access and AI restructuring remain watch points. U.S.-China discussions reportedly addressed Citigroup’s permissions in China, while Citi expanded its AI leadership team with external hires and internal promotions. Progress could improve long-term growth, but the financial impact remains uncertain. What Is Citigroup Signaling With China Talks And Its AI Reset?
• Neutral Sentiment: Citigroup crossed a 3% ownership threshold in Solvay. The disclosure reflects a financial-interest position, but it does not appear to materially affect Citigroup’s earnings outlook. Citigroup Lifts Stake Above 3% in Solvay

Citigroup Price Performance

C stock opened at $122.56 on Wednesday. The stock has a 50-day moving average price of $132.20 and a two-hundred day moving average price of $132.05. Citigroup Inc. has a 1 year low of $95.00 and a 1 year high of $147.96. The stock has a market cap of $209.03 billion, a PE ratio of 11.96, a price-to-earnings-growth ratio of 0.53 and a beta of 1.13. 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, beating analysts' consensus estimates of $2.66 by $0.19. The company 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%. The company's quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.86 earnings per share. Equities analysts forecast that Citigroup Inc. will post 11.42 EPS for the current fiscal year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Investors 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 dividend payout ratio (DPR) is presently 26.15%.

Citigroup Company 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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