Generali Asset Management SPA SGR Trims Stock Position in Citigroup Inc. $C

Key Points

• Generali Asset Management SPA SGR reduced its stake in Citigroup by 5.5% in the second quarter, owning 231,837 shares valued at $19.73 million after selling 13,406 shares.
• Citigroup reported a EPS of $1.86 for the latest quarter, missing analysts' expectations of $1.89, while revenue increased by 9.3% year-over-year.
• The company announced a quarterly dividend of $0.60 per share, with a dividend yield of 2.4%, scheduled for payment on November 26th.

Generali Asset Management SPA SGR lessened its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 5.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 231,837 shares of the company's stock after selling 13,406 shares during the period. Generali Asset Management SPA SGR's holdings in Citigroup were worth $19,734,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its position in shares of Citigroup by 179.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock worth $1,031,790,000 after buying an additional 9,334,038 shares in the last quarter. Nuveen LLC bought a new stake in shares of Citigroup in the first quarter valued at about $578,100,000. Amundi lifted its stake in Citigroup by 78.4% in the first quarter. Amundi now owns 13,713,517 shares of the company's stock worth $973,523,000 after acquiring an additional 6,026,268 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Citigroup by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company's stock worth $2,917,794,000 after acquiring an additional 2,539,769 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. AG increased its position in Citigroup by 2,230.8% during the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 2,630,308 shares of the company's stock valued at $186,726,000 after purchasing an additional 2,517,459 shares during the period. Institutional investors own 71.72% of the company's stock.

Citigroup Stock Performance

Shares of C opened at $99.83 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.61. The firm has a market cap of $183.78 billion, a PE ratio of 14.75, a P/E/G ratio of 0.84 and a beta of 1.37. The stock has a fifty day moving average price of $97.25 and a 200-day moving average price of $84.16. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $105.59.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings results on Tuesday, October 14th. The company reported $1.86 earnings per share for the quarter, missing analysts' consensus estimates of $1.89 by ($0.03). Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The business had revenue of $22.09 billion for the quarter, compared to analysts' expectations of $20.92 billion. During the same quarter in the previous year, the firm posted $1.51 EPS. Citigroup's revenue was up 9.3% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. Equities research analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on C. Bank of America upped their price target on shares of Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Barclays upped their target price on Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. TD Cowen lifted their price target on Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a report on Wednesday, July 16th. Weiss Ratings reissued a "buy (b)" rating on shares of Citigroup in a research report on Wednesday, October 8th. Finally, Truist Financial raised their price objective on Citigroup from $105.00 to $112.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. Eleven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Citigroup has a consensus rating of "Moderate Buy" and an average target price of $101.25.

Citigroup 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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