Citigroup Inc. $C Stock Holdings Increased by Avity Investment Management Inc.

Avity Investment Management Inc. raised its stake in Citigroup Inc. (NYSE:C) by 16.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 148,799 shares of the company’s stock after purchasing an additional 21,146 shares during the quarter. Citigroup comprises about 1.2% of Avity Investment Management Inc.’s investment portfolio, making the stock its 28th biggest position. Avity Investment Management Inc.’s holdings in Citigroup were worth $19,266,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in C. State Street Corp lifted its holdings in shares of Citigroup by 3.7% in the 2nd quarter. State Street Corp now owns 80,956,349 shares of the company’s stock worth $11,199,986,000 after acquiring an additional 2,913,701 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Citigroup in the 2nd quarter valued at approximately $3,244,602,000. Bank of America Corp DE lifted its stake in Citigroup by 2.8% during the first quarter. Bank of America Corp DE now owns 26,869,012 shares of the company’s stock worth $3,047,215,000 after purchasing an additional 728,043 shares in the last quarter. Invesco Ltd. lifted its stake in Citigroup by 6.2% during the fourth quarter. Invesco Ltd. now owns 15,139,403 shares of the company’s stock worth $1,766,617,000 after purchasing an additional 887,430 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Citigroup by 10.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,467,857 shares of the company’s stock worth $1,745,001,000 after buying an additional 1,210,006 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Positive pre-earnings outlook: Analysts expect third-quarter results to benefit from stronger net interest income and market revenues, while cost controls and shareholder returns remain key areas to watch. Citigroup stock ahead of Q3 earnings
• Positive Sentiment: New buy rating and upside target: TD Cowen initiated coverage of Citigroup with a “buy” rating and a $150 price target, implying meaningful upside from recent trading levels and reinforcing the view that Citi’s valuation could improve as its transformation progresses. TD Cowen coverage report
• Positive Sentiment: Private-bank expansion: Citi is adding regional leadership under former Bank of America executive Chris Biotti and targeting approximately $3 trillion in untapped North American client assets. Successful execution could strengthen fee income and help Citi compete more effectively in wealth management. Citi private bank expansion
• Positive Sentiment: AI and efficiency initiatives: Citi is shortening its investment-banking analyst program to two years while deploying AI tools to automate repetitive work. Management expects faster promotion paths and a more efficient talent model, although benefits will depend on implementation. Citigroup investment banking analyst program
• Neutral Sentiment: Valuation debate: Citi’s strong multi-year share-price performance has prompted questions about whether its returns on capital and profitability justify further gains. Optimists argue the bank could rerate closer to peers, while investors may demand more evidence from upcoming results. Citigroup valuation analysis
• Negative Sentiment: Mixed analyst signals and macro risks: UBS lowered its Citigroup price target to $139, and sharply rising bond yields could pressure bank valuations, funding costs and credit conditions ahead of earnings. UBS cuts Citigroup price target

Citigroup Stock Up 1.2%

NYSE:C traded up $1.53 during midday trading on Friday, reaching $129.61. The company had a trading volume of 6,507,031 shares, compared to its average volume of 12,443,352. The firm has a market capitalization of $221.06 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 0.56 and a beta of 1.13. The stock’s fifty day simple moving average is $133.80 and its 200-day simple moving average is $131.31. Citigroup Inc. has a 12-month low of $93.66 and a 12-month high of $147.96. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share for the quarter, topping the consensus estimate of $2.74 by $0.41. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The company had revenue of $24.77 billion for the quarter, compared to the consensus estimate of $23.74 billion. During the same quarter in the prior year, the business earned $1.96 EPS. Citigroup’s revenue was up 14.5% on a year-over-year basis. On average, sell-side analysts anticipate that Citigroup Inc. will post 11.19 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 3rd were given a dividend of $0.67 per share. This is a boost from Citigroup’s previous quarterly dividend of $0.60. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, August 3rd. Citigroup’s dividend payout ratio is presently 28.94%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on C shares. Argus set a $150.00 price objective on Citigroup in a report on Wednesday, July 15th. HSBC began coverage on Citigroup in a research report on Monday, September 28th. They issued a “buy” rating and a $164.00 target price for the company. Wells Fargo & Company boosted their price target on shares of Citigroup from $162.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, June 18th. Truist Financial lowered their price objective on shares of Citigroup from $158.00 to $154.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Finally, Morgan Stanley lifted their price objective on shares of Citigroup from $154.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $151.28.

Citigroup Company Profile

Citigroup Inc is a global financial services company headquartered in New York City and listed on the New York Stock Exchange under the symbol C. Through its subsidiaries and businesses, Citi provides banking, lending, investment, payments, wealth management and other financial services to consumers, businesses, governments and institutional clients.

Citi’s principal businesses include Services, which supports institutional clients with treasury, trade, securities services and related solutions; Markets, which provides sales, trading, research and financing services; Banking, which offers investment banking and corporate banking; and Wealth, which provides private banking and wealth management.