Citigroup Inc. $C Stock Acquired by Mn Services Vermogensbeheer B.V.

Key Points

• Mn Services Vermogensbeheer B.V. increased its Citigroup stake by 1.7% in the third quarter, adding 8,600 shares to reach 505,603 shares valued at approximately $65.5 million.
• Institutional investors hold 71.72% of Citigroup, with State Street, Bank of America, Invesco and UBS among major holders that recently increased their positions.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $151.28. Citigroup also raised its quarterly dividend to $0.67 per share, while its latest earnings and revenue exceeded expectations.

Mn Services Vermogensbeheer B.V. raised its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 1.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 505,603 shares of the company's stock after acquiring an additional 8,600 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Citigroup were worth $65,465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its position in shares of Citigroup by 3.7% in the second 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 in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Citigroup during the 2nd quarter valued at $3,244,602,000. Bank of America Corp DE lifted its holdings in Citigroup by 2.8% during the 1st quarter. Bank of America Corp DE now owns 26,869,012 shares of the company's stock worth $3,047,215,000 after purchasing an additional 728,043 shares in the last quarter. Invesco Ltd. lifted its holdings in Citigroup by 6.2% during the 4th quarter. Invesco Ltd. now owns 15,139,403 shares of the company's stock worth $1,766,617,000 after purchasing an additional 887,430 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in 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 purchasing an additional 1,210,006 shares during the period. Hedge funds and other institutional investors own 71.72% of the company's stock.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: TD Cowen initiated coverage with a Buy rating and a $150 price target, implying roughly 17% upside from the referenced price. The call highlights potential for earnings growth and continued improvement in Citi’s transformation. TD Cowen initiates Citigroup coverage
• Positive Sentiment: Analysts expect third-quarter results to benefit from higher net interest income and market-related revenue. Investors will also focus on cost savings, operating efficiency and the sustainability of capital returns. Citigroup Q3 earnings outlook
• Positive Sentiment: Recent commentary argues Citi could gain approximately 28% if it narrows its valuation discount to other large financial institutions. The thesis centers on the bank’s transformation, potential earnings improvement and relatively inexpensive valuation. Citigroup has trailed financial stocks
• Positive Sentiment: Citi’s expanded collaboration with Coinbase connects its payment infrastructure with stablecoin rails, potentially creating new transaction, treasury-management and digital-asset opportunities for corporate and e-commerce customers. Citi and Coinbase stablecoin partnership
• Neutral Sentiment: Wall Street estimates and investor attention are increasing ahead of the September-quarter report. The outcome will depend on whether stronger revenue trends translate into sustainable profitability and whether management maintains its outlook. Citigroup Q3 performance estimates
• Negative Sentiment: UBS lowered its Citigroup price target to $139, signaling more limited near-term upside than other recent analyst calls. Separately, rising Treasury yields and broader rate volatility could pressure banks through funding costs, securities losses and weaker capital-markets conditions. UBS cuts Citigroup price target

Wall Street Analysts Forecast Growth

C has been the subject of a number of recent analyst reports. Argus set a $150.00 target price on Citigroup in a report on Wednesday, July 15th. Oppenheimer downgraded shares of Citigroup from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 30th. Evercore set a $140.00 price objective on shares of Citigroup in a research report on Thursday, October 1st. JPMorgan Chase & Co. reduced their price objective on shares of Citigroup from $149.00 to $147.00 and set an "overweight" rating for the company in a research note on Friday, October 2nd. Finally, TD Cowen started coverage on shares of Citigroup in a report on Thursday. They set a "buy" rating and a $150.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $151.28.

Citigroup Price Performance

Shares of NYSE C opened at $127.96 on Friday. The stock's 50-day simple moving average is $133.80 and its two-hundred day simple moving average is $131.31. Citigroup Inc. has a twelve month low of $93.66 and a twelve month high of $147.96. The firm has a market capitalization of $218.24 billion, a P/E ratio of 13.82, a P/E/G ratio of 0.56 and a beta of 1.13. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.71.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.74 by $0.41. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The firm had revenue of $24.77 billion during the quarter, compared to the consensus estimate of $23.74 billion. During the same quarter last year, the company posted $1.96 EPS. The company's revenue for the quarter was up 14.5% on a year-over-year basis. As a group, equities analysts anticipate that Citigroup Inc. will post 11.19 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 3rd were given a dividend of $0.67 per share. The ex-dividend date was Monday, August 3rd. This is a boost from Citigroup's previous quarterly dividend of $0.60. This represents a $2.68 annualized dividend and a yield of 2.1%. Citigroup's dividend payout ratio (DPR) is presently 28.94%.

Citigroup 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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