Envestnet Portfolio Solutions Inc. Raises Holdings in Citigroup Inc. $C

Key Points

• Envestnet Portfolio Solutions Inc. increased its holdings in Citigroup Inc. by 5.9%, owning a total of 58,062 shares valued at approximately $4.94 million as of the end of the second quarter.
• Several institutional investors also adjusted their positions, with Price T Rowe Associates growing its stake by 6.6%, increasing its shares to over 41 million valued at nearly $2.92 billion.
• Research analysts are generally optimistic, with multiple firms raising their price targets; Morgan Stanley increased its target for Citigroup from $129 to $134, with the stock currently having a consensus rating of "Moderate Buy."

Envestnet Portfolio Solutions Inc. grew its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 5.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,062 shares of the company's stock after purchasing an additional 3,238 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Citigroup were worth $4,942,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in shares of Citigroup by 6.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company's stock valued at $2,917,794,000 after purchasing an additional 2,539,769 shares in the last quarter. Northern Trust Corp grew its position in shares of Citigroup by 1.0% during the first quarter. Northern Trust Corp now owns 20,427,563 shares of the company's stock valued at $1,450,153,000 after purchasing an additional 195,013 shares in the last quarter. Invesco Ltd. grew its position in shares of Citigroup by 3.6% during the first quarter. Invesco Ltd. now owns 16,839,915 shares of the company's stock valued at $1,195,466,000 after purchasing an additional 592,820 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Citigroup by 179.5% during the first quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock valued at $1,031,790,000 after purchasing an additional 9,334,038 shares in the last quarter. Finally, Amundi grew its position in shares of Citigroup by 78.4% during the first quarter. Amundi now owns 13,713,517 shares of the company's stock valued at $973,523,000 after purchasing an additional 6,026,268 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Morgan Stanley lifted their price target on Citigroup from $129.00 to $134.00 and gave the stock an "overweight" rating in a research report on Wednesday. TD Cowen lifted their price target on Citigroup from $105.00 to $110.00 and gave the stock a "hold" rating in a research report on Wednesday. Piper Sandler lifted their price target on Citigroup from $107.00 to $110.00 and gave the stock an "overweight" rating in a research report on Wednesday. Wall Street Zen upgraded Citigroup from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Finally, Wells Fargo & Company boosted their target price on Citigroup from $115.00 to $125.00 and gave the company an "overweight" rating in a research report on Tuesday, September 16th. Eleven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $105.90.

Citigroup Stock Performance

Shares of NYSE:C opened at $99.73 on Thursday. The company has a market capitalization of $183.59 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 0.87 and a beta of 1.37. Citigroup Inc. has a 52 week low of $55.51 and a 52 week high of $105.59. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.62. The firm has a 50 day moving average of $97.40 and a 200 day moving average of $84.27.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings data on Tuesday, October 14th. The company reported $1.86 EPS for the quarter, missing analysts' consensus estimates of $1.89 by ($0.03). The business had revenue of $22.09 billion during the quarter, compared to the consensus estimate of $20.92 billion. Citigroup had a return on equity of 7.91% and a net margin of 8.73%.The business's quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the firm earned $1.51 EPS. Citigroup has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Monday, November 3rd will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $2.40 dividend on an annualized basis and a yield of 2.4%. Citigroup's payout ratio is 35.45%.

Citigroup Company Profile

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.

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