Westpac Banking Corp Raises Stock Position in Citigroup Inc. $C

Westpac Banking Corp lifted its holdings in shares of Citigroup Inc. (NYSE:C) by 4.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 217,077 shares of the company’s stock after buying an additional 9,435 shares during the period. Citigroup comprises 1.2% of Westpac Banking Corp’s holdings, making the stock its 9th largest position. Westpac Banking Corp’s holdings in Citigroup were worth $18,478,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of C. Western Wealth Management LLC grew its stake in Citigroup by 14.5% in the second quarter. Western Wealth Management LLC now owns 11,952 shares of the company’s stock valued at $1,017,000 after purchasing an additional 1,512 shares in the last quarter. MTM Investment Management LLC bought a new stake in shares of Citigroup during the 2nd quarter worth approximately $43,000. Kingsview Wealth Management LLC boosted its holdings in shares of Citigroup by 2.0% in the 2nd quarter. Kingsview Wealth Management LLC now owns 27,801 shares of the company’s stock valued at $2,366,000 after buying an additional 541 shares during the last quarter. Cornerstone Advisors LLC grew its stake in shares of Citigroup by 32.5% in the second quarter. Cornerstone Advisors LLC now owns 213,000 shares of the company’s stock valued at $18,131,000 after buying an additional 52,300 shares in the last quarter. Finally, Citizens Financial Group Inc. RI increased its holdings in Citigroup by 739.3% during the second quarter. Citizens Financial Group Inc. RI now owns 128,605 shares of the company’s stock worth $10,947,000 after buying an additional 113,283 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Down 0.4%

C stock opened at $100.24 on Friday. Citigroup Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $105.59. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $179.35 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 0.83 and a beta of 1.37. The business’s fifty day moving average price is $99.66 and its two-hundred day moving average price is $90.00.

Citigroup (NYSE:C) last announced its earnings results on Tuesday, October 14th. The company reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.35. Citigroup had a net margin of 8.73% and a return on equity of 7.91%. The company had revenue of $22.09 billion during the quarter, compared to analysts’ expectations of $20.92 billion. During the same quarter in the previous year, the business posted $1.51 earnings per share. Citigroup’s quarterly revenue was up 9.3% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 3rd will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $2.40 annualized dividend and a dividend yield of 2.4%. Citigroup’s dividend payout ratio (DPR) is currently 33.71%.

Analyst Upgrades and Downgrades

C has been the topic of several analyst reports. Dbs Bank lowered shares of Citigroup from a “moderate buy” rating to a “hold” rating in a research report on Monday, September 22nd. TD Cowen raised their target price on shares of Citigroup from $105.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Oppenheimer reduced their price target on Citigroup from $124.00 to $123.00 and set an “outperform” rating for the company in a report on Tuesday, September 23rd. The Goldman Sachs Group reissued a “buy” rating and set a $118.00 price target on shares of Citigroup in a research report on Tuesday, October 14th. Finally, Bank of America raised their price objective on Citigroup from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $107.63.

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.