Citigroup Inc. $C Stock: Howard Capital Management LLC Cuts Holdings

Key Points

• Howard Capital Management cut its Citigroup stake by 85.5% in the third quarter, selling 73,829 shares and retaining 12,569 shares valued at approximately $1.63 million. Institutional investors collectively own 71.72% of Citi.
• Citigroup reported third-quarter EPS of $2.85, beating estimates of $2.66, while revenue rose 7.9% year over year to roughly $23.84 billion. The bank also increased its quarterly dividend from $0.60 to $0.67 per share, equivalent to a 2.2% yield.
• Citi has a “Moderate Buy” consensus rating and an average price target of $150.79, though Royal Bank of Canada recently lowered its target to $135 and Oppenheimer downgraded the stock to “market perform.”

Howard Capital Management LLC cut its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 85.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,569 shares of the company's stock after selling 73,829 shares during the period. Howard Capital Management LLC's holdings in Citigroup were worth $1,627,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in C. Bank of New York Mellon Corp acquired a new position in Citigroup during the second quarter worth about $3,244,602,000. Nykredit A S acquired a new stake in shares of Citigroup in the 2nd quarter valued at approximately $458,275,000. State Street Corp boosted its stake in shares of Citigroup by 3.7% in the 2nd 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. SEB Asset Management AB bought a new stake in shares of Citigroup during the 1st quarter valued at approximately $252,972,000. Finally, OMERS ADMINISTRATION Corp grew its holdings in shares of Citigroup by 1,137.1% during the 2nd quarter. OMERS ADMINISTRATION Corp now owns 1,840,374 shares of the company's stock valued at $257,579,000 after purchasing an additional 1,691,611 shares during the last quarter. Institutional investors own 71.72% of the company's stock.

Citigroup Stock Performance

NYSE:C opened at $124.36 on Friday. The stock has a market cap of $212.11 billion, a P/E ratio of 12.13, a price-to-earnings-growth ratio of 0.54 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. The stock's 50-day moving average is $132.74 and its 200-day moving average is $131.77. Citigroup Inc. has a 1-year low of $95.00 and a 1-year high of $147.96.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings data on Tuesday, October 13th. The company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.19. The company had revenue of $23.84 billion during the quarter, compared to the consensus estimate of $23.74 billion. Citigroup had a return on equity of 10.57% and a net margin of 10.97%. The firm's revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.86 earnings per share. Equities research analysts anticipate that Citigroup Inc. will post 11.39 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 issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Monday, August 3rd. This is a positive change from Citigroup's previous quarterly dividend of $0.60. Citigroup's payout ratio is presently 26.15%.

Key Headlines Impacting Citigroup

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?

Analyst Upgrades and Downgrades

C has been the subject of several research reports. Argus set a $150.00 price objective on shares of Citigroup in a research note on Wednesday, July 15th. UBS Group set a $148.00 target price on shares of Citigroup in a research report on Wednesday. TD Cowen decreased their target price on shares of Citigroup from $150.00 to $148.00 and set a "buy" rating on the stock in a research note on Wednesday. Royal Bank Of Canada lowered their price target on shares of Citigroup from $150.00 to $135.00 and set an "outperform" rating for the company in a report on Wednesday. Finally, Oppenheimer downgraded Citigroup from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Citigroup currently has an average rating of "Moderate Buy" and a consensus target price of $150.79.

About Citigroup

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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