Citigroup Inc. $C Stock Position Increased by Avity Investment Management Inc.

Key Points

• Avity Investment Management increased its Citigroup position by 16.6% in the third quarter, adding 21,146 shares to own 148,799 shares valued at approximately $19.3 million. Institutional investors collectively own 71.72% of Citi.
• Citigroup recently reported stronger-than-expected results, with quarterly EPS of $3.15 versus a $2.74 consensus estimate and revenue up 14.5% year over year. The company also raised its quarterly dividend to $0.67 per share, or $2.68 annually.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $151.28, though UBS lowered its target to $139 and rising bond yields pose potential macroeconomic risks.

Avity Investment Management Inc. raised its position in Citigroup Inc. (NYSE:C - Free Report) by 16.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 148,799 shares of the company's stock after buying an additional 21,146 shares during the period. Citigroup comprises 1.2% of Avity Investment Management Inc.'s investment portfolio, making the stock its 28th biggest position. Avity Investment Management Inc.'s holdings in Citigroup were worth $19,266,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Compass Financial Management LLC purchased a new position in Citigroup during the second quarter valued at $898,000. UniSuper Management Pty Ltd increased its stake in shares of Citigroup by 38.8% during the fourth quarter. UniSuper Management Pty Ltd now owns 1,306,851 shares of the company's stock worth $152,496,000 after purchasing an additional 365,041 shares in the last quarter. Andra AP fonden raised its position in shares of Citigroup by 22.3% during the 2nd quarter. Andra AP fonden now owns 274,600 shares of the company's stock worth $38,433,000 after purchasing an additional 50,100 shares during the last quarter. Saudi Central Bank lifted its stake in Citigroup by 80.8% in the 2nd quarter. Saudi Central Bank now owns 119,392 shares of the company's stock valued at $16,710,000 after buying an additional 53,348 shares in the last quarter. Finally, Raiffeisen Bank International AG lifted its stake in Citigroup by 12.9% in the 2nd quarter. Raiffeisen Bank International AG now owns 103,220 shares of the company's stock valued at $14,708,000 after buying an additional 11,812 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company's stock.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Positive pre-earnings outlook: Analysts expect third-quarter results to benefit from stronger net interest income and market revenues, while cost controls and shareholder returns remain key areas to watch. Citigroup stock ahead of Q3 earnings
• Positive Sentiment: New buy rating and upside target: TD Cowen initiated coverage of Citigroup with a “buy” rating and a $150 price target, implying meaningful upside from recent trading levels and reinforcing the view that Citi’s valuation could improve as its transformation progresses. TD Cowen coverage report
• Positive Sentiment: Private-bank expansion: Citi is adding regional leadership under former Bank of America executive Chris Biotti and targeting approximately $3 trillion in untapped North American client assets. Successful execution could strengthen fee income and help Citi compete more effectively in wealth management. Citi private bank expansion
• Positive Sentiment: AI and efficiency initiatives: Citi is shortening its investment-banking analyst program to two years while deploying AI tools to automate repetitive work. Management expects faster promotion paths and a more efficient talent model, although benefits will depend on implementation. Citigroup investment banking analyst program
• Neutral Sentiment: Valuation debate: Citi’s strong multi-year share-price performance has prompted questions about whether its returns on capital and profitability justify further gains. Optimists argue the bank could rerate closer to peers, while investors may demand more evidence from upcoming results. Citigroup valuation analysis
• Negative Sentiment: Mixed analyst signals and macro risks: UBS lowered its Citigroup price target to $139, and sharply rising bond yields could pressure bank valuations, funding costs and credit conditions ahead of earnings. UBS cuts Citigroup price target

Citigroup Trading Up 1.2%

Shares of NYSE C traded up $1.53 during trading on Friday, hitting $129.61. 6,507,031 shares of the company were exchanged, compared to its average volume of 12,443,352. Citigroup Inc. has a 12-month low of $93.66 and a 12-month high of $147.96. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 0.99. The company has a fifty day moving average price of $133.80 and a 200-day moving average price of $131.31. The firm has a market capitalization of $221.06 billion, a PE ratio of 14.00, a P/E/G ratio of 0.56 and a beta of 1.13.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data 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 net margin of 10.23% and a return on equity of 10.15%. The firm had revenue of $24.77 billion during the quarter, compared to analyst estimates of $23.74 billion. During the same quarter in the prior year, the firm posted $1.96 earnings per share. Citigroup's quarterly revenue was up 14.5% on a year-over-year basis. As a group, equities research analysts expect that Citigroup Inc. will post 11.19 EPS for the current year.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 3rd were issued a dividend of $0.67 per share. The ex-dividend date was Monday, August 3rd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.1%. This is an increase from Citigroup's previous quarterly dividend of $0.60. Citigroup's payout ratio is 28.94%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on C shares. Royal Bank Of Canada reiterated an "outperform" rating and set a $150.00 price objective on shares of Citigroup in a research note on Wednesday, July 15th. Argus set a $150.00 target price on shares of Citigroup in a research note on Wednesday, July 15th. UBS Group reduced their target price on shares of Citigroup from $142.00 to $139.00 and set a "neutral" rating for the company in a research report on Monday. JPMorgan Chase & Co. decreased their price target on shares of Citigroup from $149.00 to $147.00 and set an "overweight" rating on the stock in a research note on Friday, October 2nd. Finally, HSBC initiated coverage on shares of Citigroup in a research report on Monday, September 28th. They set a "buy" rating and a $164.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Citigroup presently has a consensus rating of "Moderate Buy" and an average target price of $151.28.

Citigroup Company 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.

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.