Citigroup Inc. $C Stock: Inspire Trust Co. N.A. Decreases Holdings

Inspire Trust Co. N.A. trimmed its stake in shares of Citigroup Inc. (NYSE:C) by 26.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 49,000 shares of the company’s stock after selling 18,000 shares during the quarter. Inspire Trust Co. N.A.’s holdings in Citigroup were worth $6,345,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Mesirow Financial Investment Management Inc. grew its position in shares of Citigroup by 12.1% during the third quarter. Mesirow Financial Investment Management Inc. now owns 26,597 shares of the company’s stock worth $3,444,000 after acquiring an additional 2,861 shares during the last quarter. Keybank National Association OH lifted its position in Citigroup by 2.2% in the 3rd quarter. Keybank National Association OH now owns 62,030 shares of the company’s stock valued at $8,032,000 after purchasing an additional 1,334 shares during the last quarter. Csenge Advisory Group lifted its position in Citigroup by 2.6% in the 3rd quarter. Csenge Advisory Group now owns 12,352 shares of the company’s stock valued at $1,599,000 after purchasing an additional 313 shares during the last quarter. DMKC Advisory Services LLC boosted its stake in Citigroup by 8.2% during the 3rd quarter. DMKC Advisory Services LLC now owns 21,900 shares of the company’s stock valued at $2,836,000 after purchasing an additional 1,668 shares during the period. Finally, 71 West Capital Partners grew its position in Citigroup by 2.9% in the 3rd quarter. 71 West Capital Partners now owns 10,642 shares of the company’s stock worth $1,378,000 after purchasing an additional 303 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Up 0.3%

Citigroup stock opened at $122.29 on Wednesday. Citigroup Inc. has a 52 week low of $95.83 and a 52 week high of $147.96. The stock has a market cap of $208.58 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 0.54 and a beta of 1.18. The company’s 50-day moving average price is $128.52 and its two-hundred day moving average price is $126.67. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.78.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, October 13th. The company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $23.74 billion. During the same period last year, the firm posted $1.86 earnings per share. The business’s revenue was up 7.9% on a year-over-year basis. On average, analysts expect that Citigroup Inc. will post 11.44 EPS for the current fiscal year.

Citigroup Dividend Announcement

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

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup is among a group of global banks committing about $270 million to fund a U.S.-based stablecoin issuer for its first five years. The venture could give Citi a role in the growing digital-payments market, though its expected returns and Citi’s individual contribution were not disclosed. Article: Goldman, Citi join global banks in $270 million stablecoin venture
• Positive Sentiment: CEO Jane Fraser said a newly approved brokerage license gives Citi an edge over rivals in China, supporting the bank’s growth ambitions in the market. The opportunity may take time to translate into material results and remains subject to local operating conditions. Article: Citigroup’s Fraser Says China License Gives Bank Edge on Rivals
• Neutral Sentiment: Citi announced it will redeem all $1 billion of its Series Y preferred stock. This is a capital-structure action; the report did not describe a change to the bank’s business outlook. Article: Citigroup Announces Full Redemption of Series Y Preferred Stock

Wall Street Analyst Weigh In

Several equities research analysts have commented on C shares. Weiss Ratings lowered shares of Citigroup from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, October 2nd. Zacks Research downgraded Citigroup from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 14th. UBS Group set a $148.00 price objective on Citigroup in a report on Wednesday, October 14th. Wall Street Zen upgraded Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Argus set a $150.00 target price on Citigroup in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $150.87.

About Citigroup

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.