Citigroup Inc. $C Stock Position Increased by Russell Investments Group Ltd.

Key Points

• Russell Investments increased its Citigroup stake by 8.3% in the third quarter, adding 298,981 shares to hold about 3.91 million shares valued at $507.4 million.
• Institutional investors and hedge funds own 71.72% of Citigroup’s shares; several other funds also reported modest increases in their positions.
• Citigroup reported quarterly EPS of $2.85, beating the $2.66 consensus, while revenue rose 7.9% year over year to $23.84 billion. Analysts’ average price target was $150.87, compared with shares opening at $124.09.

Russell Investments Group Ltd. increased its position in Citigroup Inc. (NYSE:C - Free Report) by 8.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 3,912,171 shares of the company's stock after purchasing an additional 298,981 shares during the period. Citigroup accounts for about 0.4% of Russell Investments Group Ltd.'s holdings, making the stock its 24th biggest holding. Russell Investments Group Ltd. owned 0.23% of Citigroup worth $507,417,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Grove Bank & Trust grew its stake in Citigroup by 1.8% during the 3rd quarter. Grove Bank & Trust now owns 4,549 shares of the company's stock worth $589,000 after buying an additional 79 shares during the last quarter. American Trust lifted its stake in Citigroup by 3.6% in the second quarter. American Trust now owns 2,331 shares of the company's stock valued at $326,000 after buying an additional 80 shares during the last quarter. Invst LLC lifted its stake in Citigroup by 0.8% in the second quarter. Invst LLC now owns 9,601 shares of the company's stock valued at $1,344,000 after buying an additional 80 shares during the last quarter. Tsfg LLC boosted its holdings in shares of Citigroup by 4.9% in the second quarter. Tsfg LLC now owns 1,701 shares of the company's stock valued at $238,000 after acquiring an additional 80 shares during the period. Finally, Somerset Trust Co boosted its holdings in shares of Citigroup by 0.6% in the second quarter. Somerset Trust Co now owns 14,955 shares of the company's stock valued at $2,093,000 after acquiring an additional 82 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Top Citigroup Stories

Investors following C have been watching these stories:

• Positive Sentiment: Citi is redesigning 100 processes as it adopts AI, a potentially meaningful efficiency initiative. The accompanying survey found only 13% of banking professionals say their institutions typically redesign workflows end to end when adopting AI, suggesting Citi’s effort could help distinguish its transformation if it delivers results. Exclusive research: Citi is redesigning 100 processes. What’s stopping others?
• Neutral Sentiment: Citi will redeem $1 billion of its 4.15% Series Y preferred stock, ending dividend accrual on November 15. The move simplifies its capital structure, but the report does not establish a material effect on common-share earnings or capital. Citigroup (C) Redeems Preferred Stock
• Neutral Sentiment: A post-earnings update says shares were up 1.6% since Citi’s latest report and points investors to earnings estimates for clues about future performance; it offers no fresh results or guidance. Citigroup (C) Up 1.6% Since Last Earnings Report: Can It Continue?

Citigroup Price Performance

Shares of NYSE C opened at $124.09 on Friday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.00 and a current ratio of 1.00. Citigroup Inc. has a one year low of $95.83 and a one year high of $147.96. The firm has a market capitalization of $211.65 billion, a P/E ratio of 12.11, a PEG ratio of 0.55 and a beta of 1.18. The company's fifty day moving average is $128.15 and its two-hundred day moving average is $126.77.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings results on Tuesday, October 13th. The company reported $2.85 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $23.74 billion. During the same quarter last year, the firm posted $1.86 EPS. The business's revenue was up 7.9% compared to the same quarter last year. Analysts forecast that Citigroup Inc. will post 11.44 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 given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 2.2%. The ex-dividend date is Monday, November 2nd. Citigroup's dividend payout ratio is presently 26.15%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on C. Evercore set a $135.00 target price on shares of Citigroup in a research report on Wednesday, October 14th. JPMorgan Chase & Co. increased their price target on shares of Citigroup from $147.00 to $148.50 and gave the stock an "overweight" rating in a research note on Friday, October 30th. UBS Group set a $148.00 price target on shares of Citigroup in a research note on Wednesday, October 14th. Keefe, Bruyette & Woods reissued an "outperform" rating on shares of Citigroup in a research report on Wednesday, October 14th. Finally, Royal Bank Of Canada dropped their price objective on shares of Citigroup from $150.00 to $135.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 14th. One research 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 company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $150.87.

Citigroup Profile

Citigroup Inc. is a global financial services company headquartered in New York City. Founded in 1812 as the City Bank of New York, it has grown into an international banking organization serving individuals, businesses, governments and institutions. The company provides consumer banking and wealth management services, including deposits, lending, credit cards and investment services. For corporate and institutional clients, Citi offers transaction banking, treasury and trade solutions, securities services, investment banking, and markets and financing services.

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.