Citigroup Inc. $C Shares Bought by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lifted its holdings in shares of Citigroup Inc. (NYSE:C) by 11.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 102,522 shares of the company’s stock after purchasing an additional 10,584 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Citigroup were worth $13,275,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in C. Bank of New York Mellon Corp acquired a new position in Citigroup in the second quarter valued at $3,244,602,000. Nykredit A S acquired a new stake in Citigroup in the 2nd quarter worth about $458,275,000. State Street Corp boosted its stake in 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 buying an additional 2,913,701 shares during the last quarter. SEB Asset Management AB purchased a new stake in Citigroup in the 1st quarter valued at about $252,972,000. Finally, OMERS ADMINISTRATION Corp grew its holdings in Citigroup by 1,137.1% in the 2nd 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 and hedge funds own 71.72% of the company’s stock.

Citigroup Trading Up 1.6%

Shares of C opened at $124.25 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.78. The firm has a market capitalization of $211.92 billion, a P/E ratio of 12.12, a price-to-earnings-growth ratio of 0.54 and a beta of 1.18. The stock’s fifty day simple moving average is $128.36 and its 200 day simple moving average is $126.73. Citigroup Inc. has a twelve month low of $95.83 and a twelve month high of $147.96.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, October 13th. The company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $0.19. Citigroup had a return on equity of 10.57% and a net margin of 10.97%. The firm had revenue of $23.84 billion during the quarter, compared to the consensus estimate of $23.74 billion. During the same quarter in the previous year, the business earned $1.86 earnings per share. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities research analysts forecast that Citigroup Inc. will post 11.44 earnings per share for the current year.

Citigroup Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on C. TD Cowen dropped their price objective on shares of Citigroup from $150.00 to $148.00 and set a “buy” rating for the company in a research note on Wednesday, October 14th. JPMorgan Chase & Co. raised their target price on shares of Citigroup from $147.00 to $148.50 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Citigroup in a research report on Wednesday, October 14th. Royal Bank Of Canada lowered their target price on shares of Citigroup from $150.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, October 14th. Finally, Zacks Research lowered shares of Citigroup from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 14th. One research 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $150.87.

Key Headlines Impacting Citigroup

These are some of the C headlines that stood out recently:

• Positive Sentiment: Citigroup is part of a consortium of global banks committing about $270 million to fund a planned U.S.-based stablecoin issuer for its first five years. The initiative could give Citi exposure to digital-asset payments and compete with established stablecoin providers, but execution and adoption remain uncertain. Goldman, Citi join global banks in $270 million stablecoin venture
• Positive Sentiment: CEO Jane Fraser said Citi’s China brokerage license gives the bank an advantage over rivals, pointing to potential benefits from expanded access to that market. Citigroup’s Fraser Says China License Gives Bank Edge on Rivals
• Neutral Sentiment: A report says Citi shifted its outlook on U.S. stocks to neutral, citing regulatory risk. This reflects the bank’s view of the broader equity market rather than a change to Citi’s own stock rating. Citigroup shifts US stock view to neutral citing regulatory risk

Citigroup Company Profile

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.