Pictet Asset Management Holding SA Acquires 128,017 Shares of Citigroup Inc. $C

Key Points

• Pictet Asset Management increased its Citigroup stake by 14.5%, adding 128,017 shares in the third quarter to hold 1,009,789 shares worth about $130.7 million.
• Citigroup reported quarterly earnings of $2.85 per share, topping the $2.66 consensus estimate; revenue rose 7.9% year over year to $23.84 billion.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $150.87. Citi also declared a $0.67 quarterly dividend, equivalent to a 2.2% annualized yield.

Pictet Asset Management Holding SA boosted its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 14.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,009,789 shares of the company's stock after purchasing an additional 128,017 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.06% of Citigroup worth $130,747,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Bank of New York Mellon Corp bought a new stake in shares of Citigroup in the second quarter worth $3,244,602,000. Nykredit A S acquired a new stake in Citigroup in the second quarter valued at $458,275,000. State Street Corp boosted its stake in Citigroup by 3.7% during the 2nd quarter. State Street Corp now owns 80,956,349 shares of the company's stock valued at $11,199,986,000 after acquiring an additional 2,913,701 shares during the last quarter. SEB Asset Management AB bought a new position in Citigroup during the 1st quarter valued at $252,972,000. Finally, OMERS ADMINISTRATION Corp boosted its stake in 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 acquiring an additional 1,691,611 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. TD Cowen decreased their price objective on shares of Citigroup from $150.00 to $148.00 and set a "buy" rating for the company in a report on Wednesday, October 14th. Argus set a $150.00 target price on shares of Citigroup in a research note on Wednesday, July 15th. Wall Street Zen raised shares of Citigroup from a "hold" rating to a "buy" rating in a research report on Saturday. Truist Financial decreased their price target on Citigroup from $158.00 to $154.00 and set a "buy" rating for the company in a research note on Wednesday, July 15th. Finally, UBS Group set a $148.00 price target on Citigroup in a research note on Wednesday, October 14th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Citigroup has an average rating of "Moderate Buy" and a consensus price target of $150.87.

Key Headlines Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup and DBS are competing to recruit talent for their India operations, including expansion tied to GIFT City. The hiring push points to investment in the region’s growth potential, though the articles do not quantify its expected financial impact. Citigroup, DBS vie for top talent to boost business in India hub
• Positive Sentiment: CEO Jane Fraser said she does not expect the market correction to become deeper or last longer, which may help reassure investors after the recent sell-off. This is a view on the broader market, not a change to Citi’s outlook. Citigroup CEO Jane Fraser on the market correction
• Neutral Sentiment: Citi named Circle its top pick in regulated stablecoins and digital payments. The call reflects Citi’s research activity, but Circle—not Citigroup—is the stock being recommended, so it is not a direct earnings catalyst for C. Citi Names Top Stock in Stablecoin and Digital Payments Space
• Negative Sentiment: Citigroup shares had a sharp decline in the prior session amid a volatile market. The broader backdrop remains uncertain, with post-election policy potentially slowing bank deregulation and increasing scrutiny of financial firms. Citigroup’s recent price decline Midterm election results and financial stocks
• Negative Sentiment: Citi’s strategists say the AI trade could remain under pressure and currently favor European equities over U.S. stocks. That cautious view may weigh on broader market sentiment, though it is not specific to Citi’s own fundamentals. Citi explains why the AI trade may remain under pressure

Citigroup Stock Performance

Citigroup stock opened at $119.16 on Monday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.00 and a quick ratio of 1.00. Citigroup Inc. has a 12 month low of $95.83 and a 12 month high of $147.96. The company has a fifty day moving average price of $128.92 and a two-hundred day moving average price of $126.60. The company has a market cap of $203.23 billion, a PE ratio of 11.63, a P/E/G ratio of 0.52 and a beta of 1.18.

Citigroup (NYSE:C - Get Free Report) last issued its earnings results on Tuesday, October 13th. The company reported $2.85 earnings per share for the quarter, topping analysts' consensus estimates of $2.66 by $0.19. The company had revenue of $23.84 billion for the quarter, compared to analysts' expectations of $23.74 billion. Citigroup had a net margin of 10.97% and a return on equity of 10.57%. The firm's revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.86 earnings per share. Research analysts expect that Citigroup Inc. will post 11.44 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 2nd will be issued a $0.67 dividend. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $2.68 annualized dividend and a dividend yield of 2.2%. Citigroup's payout ratio is 26.15%.

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.

Citi serves clients across the United States and a broad range of international markets, drawing on its global network to support cross-border business and financial activity.

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