Citigroup Inc. $C Stock Acquired by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management increased its Citigroup stake by 16.5% in the third quarter, purchasing 487,251 additional shares. It now owns 3.44 million shares, valued at approximately $444.9 million, while institutional investors collectively hold 71.72% of Citigroup.
• Citigroup exceeded quarterly expectations with earnings of $2.85 per share versus the $2.66 consensus estimate and revenue of $23.84 billion, up 7.9% year over year.
• Analysts maintain a generally positive outlook, with Citigroup carrying a “Moderate Buy” consensus rating and an average price target of $150.79. The company also declared a quarterly dividend of $0.67 per share, representing a 2.2% annualized yield.

Robeco Institutional Asset Management B.V. increased its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 16.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,436,014 shares of the company's stock after purchasing an additional 487,251 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.20% of Citigroup worth $444,895,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. 55 North Private Wealth LLC lifted its stake in shares of Citigroup by 3.5% in the third quarter. 55 North Private Wealth LLC now owns 6,932 shares of the company's stock valued at $898,000 after purchasing an additional 235 shares during the period. Prime Capital Investment Advisors LLC boosted its holdings in Citigroup by 11.5% during the third quarter. Prime Capital Investment Advisors LLC now owns 34,846 shares of the company's stock worth $4,512,000 after buying an additional 3,601 shares in the last quarter. Norway Savings Bank grew its holdings in Citigroup by 54.6% in the third quarter. Norway Savings Bank now owns 6,271 shares of the company's stock valued at $812,000 after purchasing an additional 2,216 shares during the last quarter. Eagle Wealth Advisors LLC increased its position in shares of Citigroup by 9.5% in the third quarter. Eagle Wealth Advisors LLC now owns 1,616 shares of the company's stock valued at $209,000 after buying an additional 140 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Citigroup by 0.7% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 257,321 shares of the company's stock valued at $33,318,000 after buying an additional 1,821 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

More Citigroup News

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

Wall Street Analysts Forecast Growth

C has been the topic of a number of research reports. UBS Group set a $148.00 price objective on shares of Citigroup in a research note on Wednesday, October 14th. Oppenheimer cut shares of Citigroup from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 30th. Morgan Stanley upped their price target on shares of Citigroup from $154.00 to $164.00 and gave the company an "overweight" rating in a report on Monday, June 29th. Truist Financial reduced their price target 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, Bank of America increased their price target on shares of Citigroup from $170.00 to $176.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $150.79.

Citigroup Stock Up 0.7%

NYSE C opened at $122.56 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 1.78. Citigroup Inc. has a fifty-two week low of $95.00 and a fifty-two week high of $147.96. The business has a 50 day moving average price of $132.20 and a two-hundred day moving average price of $132.05. The stock has a market cap of $209.03 billion, a PE ratio of 11.96, a P/E/G ratio of 0.53 and a beta of 1.13.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings results on Tuesday, October 13th. The company reported $2.85 earnings per share (EPS) for the quarter, topping 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 business had revenue of $23.84 billion during the quarter, compared to analyst estimates of $23.74 billion. During the same quarter in the previous year, the firm earned $1.86 earnings per share. The business's revenue was up 7.9% compared to the same quarter last year. As a group, sell-side analysts predict that Citigroup Inc. will post 11.42 EPS for the current fiscal year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Monday, November 2nd will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Monday, November 2nd. 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.

Want to see what other hedge funds are holding C? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citigroup Inc. (NYSE:C - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.