Citigroup Inc. $C Stock: Hosking Partners LLP Cuts Holdings

Hosking Partners LLP cut its holdings in shares of Citigroup Inc. (NYSE:C) by 16.6% during the third quarter, HoldingsChannel.com reports. The firm owned 856,087 shares of the company’s stock after selling 169,919 shares during the quarter. Citigroup makes up 3.8% of Hosking Partners LLP’s portfolio, making the stock its 4th biggest position. Hosking Partners LLP’s holdings in Citigroup were worth $110,846,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Bank of New York Mellon Corp acquired a new stake in shares of Citigroup during the 2nd quarter worth approximately $3,244,602,000. Nykredit A S bought a new stake in shares of Citigroup during the second quarter worth approximately $458,275,000. State Street Corp raised its stake in shares of Citigroup by 3.7% during the second quarter. State Street Corp now owns 80,956,349 shares of the company’s stock worth $11,199,986,000 after buying an additional 2,913,701 shares during the last quarter. SEB Asset Management AB bought a new stake in shares of Citigroup during the first quarter worth approximately $252,972,000. Finally, OMERS ADMINISTRATION Corp lifted its holdings in Citigroup by 1,137.1% in the second quarter. OMERS ADMINISTRATION Corp now owns 1,840,374 shares of the company’s stock valued at $257,579,000 after buying an additional 1,691,611 shares during the period. Institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

Shares of C opened at $123.85 on Thursday. The stock has a market cap of $211.24 billion, a P/E ratio of 12.08, a price-to-earnings-growth ratio of 0.54 and a beta of 1.13. Citigroup Inc. has a 1 year low of $95.00 and a 1 year high of $147.96. The stock’s 50-day moving average price is $131.93 and its two-hundred day moving average price is $132.11. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 1.78.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, October 13th. The company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.19. The company had revenue of $23.84 billion during the quarter, compared to analysts’ expectations of $23.74 billion. Citigroup had a return on equity of 10.57% and a net margin of 10.97%. Citigroup’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.86 EPS. On average, equities analysts predict that Citigroup Inc. will post 11.42 earnings per share for the current year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Monday, November 2nd will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $2.68 annualized dividend and a yield of 2.2%. Citigroup’s dividend payout ratio (DPR) is presently 26.15%.

Analysts Set New Price Targets

A number of brokerages have issued reports on C. Bank of America raised their price objective on shares of Citigroup from $170.00 to $176.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Argus set a $150.00 target price on shares of Citigroup in a report on Wednesday, July 15th. UBS Group set a $148.00 target price on shares of Citigroup in a research report on Wednesday, October 14th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Citigroup in a research note on Wednesday, October 14th. Finally, Morgan Stanley increased their price target on Citigroup from $154.00 to $164.00 and gave the company an “overweight” rating in a research note 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 assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.79.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Morgan Stanley views the post-earnings selloff as excessive. The firm reportedly sees approximately 32% upside for Citigroup, arguing that the roughly 6% decline after earnings was not justified. The bullish view could help support a rebound in C shares. Morgan Stanley says Citigroup’s post-earnings drop is unjustified
• Positive Sentiment: Citigroup declared a quarterly dividend of $0.67 per share. The payment is scheduled for November 25 for shareholders of record on November 2, representing an annualized dividend of $2.68 and a yield of roughly 2.2%. The continued payout reinforces the bank’s shareholder-return appeal. Citigroup Declares Common Stock Dividend
• Positive Sentiment: Citi is expanding its commercial and advertising capabilities through Citi Commerce Media. The initiative uses transaction insights to help advertisers predict consumer purchases, potentially creating a new fee and data-related revenue opportunity, although the financial impact is not yet quantified. Advertisers Should Stop Chasing Customers, Start Predicting Purchases: Citi’s Mike Venable
• Neutral Sentiment: Citigroup remains involved in strategic discussions over access to China’s financial market and is reorganizing its artificial-intelligence leadership. Progress on market permissions or AI capabilities could improve long-term growth, but the reports provide no immediate earnings impact. What Is Citigroup Signaling With China Talks And Its AI Reset?
• Neutral Sentiment: Citigroup disclosed that its stake in Solvay crossed 3%. The investment is unlikely to materially affect Citigroup’s valuation or near-term operating results. Citigroup Lifts Stake Above 3% in Solvay

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.