SteelPeak Wealth LLC Purchases 17,161 Shares of Citigroup Inc. $C

Key Points

• SteelPeak Wealth increased its Citigroup position by 24.7% in the third quarter, purchasing 17,161 additional shares for a total of 86,765 shares valued at approximately $11.2 million.
• Citigroup reported strong third-quarter results, with adjusted earnings of $2.85 per share beating estimates of $2.66 and revenue rising 7.9% year over year to about $23.84 billion.
• Analysts maintain a generally positive outlook, with Citigroup carrying a “Moderate Buy” consensus rating and an average price target of $150.79, while the bank raised its quarterly dividend to $0.67 per share.

SteelPeak Wealth LLC grew its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 24.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,765 shares of the company's stock after buying an additional 17,161 shares during the quarter. SteelPeak Wealth LLC's holdings in Citigroup were worth $11,234,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Whipplewood Advisors LLC acquired a new position in Citigroup in the first quarter worth $25,000. Paladin Partners LLC acquired a new position in Citigroup during the 2nd quarter worth about $27,000. IMG Wealth Management Inc. grew its holdings in Citigroup by 197.6% during the 1st quarter. IMG Wealth Management Inc. now owns 244 shares of the company's stock worth $28,000 after acquiring an additional 162 shares during the last quarter. Scarborough Advisors LLC bought a new stake in Citigroup during the 1st quarter worth about $29,000. Finally, Pin Oak Investment Advisors Inc. bought a new stake in Citigroup during the 2nd quarter worth about $29,000. Institutional investors and hedge funds own 71.72% of the company's stock.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: U.S. officials raised Citigroup’s market-access issues in China during bilateral talks in Bangkok. The discussions followed an agreement tied to regulatory approval, potentially improving Citi’s growth prospects in the Chinese market. U.S. raises Mastercard, Citigroup China market access in bilateral Bangkok talks
• Positive Sentiment: Recent third-quarter results continued to support Citi’s turnaround narrative. The bank reported earnings of $2.85 per share, above the $2.66 consensus estimate, while revenue rose 7.9% year over year to $23.85 billion. Net income reportedly increased 17%, and quarterly revenue reached its highest level in a decade. Citigroup CEO Jane Fraser Says the Bank Is on Front Foot
• Positive Sentiment: Citigroup is reportedly preparing an initial public offering for Banamex, its former Mexican consumer-banking business. A successful separation and IPO could simplify Citi’s operations, unlock value, and allow management to focus on its core businesses. Banamex leadership pitches turnaround ahead of targeted Citi IPO
• Neutral Sentiment: Citi expects the Federal Reserve to raise interest rates by 25 basis points in December after hotter-than-expected inflation. Higher rates may support lending margins, but they could also pressure economic activity, credit quality, and dealmaking. Citi expects Fed to raise rates by 25 basis points
• Negative Sentiment: Royal Bank of Canada cut its price target for Citigroup, adding pressure after the stock’s post-earnings performance. Broader bank shares have also struggled despite earnings beats because investors remain concerned about interest-rate volatility and potentially slowing trading and investment-banking revenue. Citigroup Stock Price Target Cut by Royal Bank of Canada
• Negative Sentiment: Citi allowed employees in Saudi Arabia to work remotely as regional conflict intensified. The move demonstrates business-continuity planning but highlights geopolitical risks that could disrupt local operations and client activity. Why Is Citigroup Letting Saudi Staff Work Remotely?

Citigroup Stock Up 0.9%

Shares of NYSE:C opened at $124.36 on Friday. Citigroup Inc. has a one year low of $95.00 and a one year high of $147.96. The company has a 50 day moving average of $132.74 and a 200-day moving average of $131.77. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.00 and a quick ratio of 0.99. The stock has a market cap of $212.11 billion, a price-to-earnings ratio of 12.13, a P/E/G ratio of 0.54 and a beta of 1.13.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly 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. 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 period in the previous year, the firm posted $1.86 earnings per share. Citigroup's revenue for the quarter was up 7.9% compared to the same quarter last year. On average, sell-side analysts forecast that Citigroup Inc. will post 11.39 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 3rd were issued a dividend of $0.67 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $2.68 dividend on an annualized basis and a yield of 2.2%. This is a boost from Citigroup's previous quarterly dividend of $0.60. Citigroup's dividend payout ratio (DPR) is presently 26.15%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on C shares. HSBC assumed coverage on shares of Citigroup in a research note on Monday, September 28th. They issued a "buy" rating and a $164.00 target price for the company. Keefe, Bruyette & Woods reiterated an "outperform" rating on shares of Citigroup in a research report on Wednesday. Evercore set a $135.00 price target on shares of Citigroup in a research note on Wednesday. Argus set a $150.00 price target on shares of Citigroup in a report on Wednesday, July 15th. Finally, Weiss Ratings cut shares of Citigroup from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $150.79.

Citigroup Profile

Citigroup Inc is a global financial services company headquartered in New York City and operates under the Citi brand. The company provides banking, lending, investment, wealth management and other financial services to individuals, businesses, institutions and governments.

Citi's consumer offerings include checking and savings accounts, credit cards, mortgages, personal lending and wealth management services. Through its institutional businesses, the company provides investment banking, commercial banking, securities brokerage, markets and trading, cash management, trade finance and custody services.

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