Citigroup Inc. $C Stock Purchased by Northeast Investment Management

Northeast Investment Management boosted its stake in Citigroup Inc. (NYSE:C) by 244.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,922 shares of the company’s stock after purchasing an additional 5,620 shares during the period. Northeast Investment Management’s holdings in Citigroup were worth $1,026,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Citigroup by 3.7% in the second quarter. State Street Corp now owns 80,956,349 shares of the company’s stock valued at $11,199,986,000 after buying an additional 2,913,701 shares in the last quarter. Bank of America Corp DE boosted its holdings in Citigroup by 2.8% in the 1st quarter. Bank of America Corp DE now owns 26,869,012 shares of the company’s stock worth $3,047,215,000 after acquiring an additional 728,043 shares during the period. Bank of New York Mellon Corp purchased a new position in Citigroup in the 2nd quarter worth approximately $3,244,602,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Citigroup by 10.7% in 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 valued at $1,745,001,000 after acquiring an additional 1,210,006 shares in the last quarter. Finally, Amundi grew its position in Citigroup by 3.2% in the first quarter. Amundi now owns 12,126,823 shares of the company’s stock valued at $1,375,303,000 after acquiring an additional 374,840 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Up 1.6%

Shares of NYSE:C opened at $124.72 on Thursday. The firm has a market cap of $212.73 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 0.54 and a beta of 1.18. The company has a fifty day simple moving average of $129.50 and a 200 day simple moving average of $126.57. 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 Inc. has a 12-month low of $95.83 and a 12-month high of $147.96.

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

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 2nd will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Monday, November 2nd. Citigroup’s dividend payout ratio is 26.15%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on C shares. TD Cowen reduced their target price on shares of Citigroup from $150.00 to $148.00 and set a “buy” rating on the stock in a research report on Wednesday, October 14th. Argus set a $150.00 price target on shares of Citigroup in a report on Wednesday, July 15th. Zacks Research downgraded shares of Citigroup from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 14th. Weiss Ratings downgraded shares of Citigroup from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, October 2nd. Finally, Evercore set a $135.00 price objective on shares of Citigroup in a research report on Wednesday, October 14th. One 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $150.87.

Key Headlines Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: China approved Citi’s wholly owned securities company, which is expected to offer brokerage, underwriting and research services. The move expands Citi’s presence in China’s capital markets and could create longer-term business opportunities. Why Is Citigroup Building A Bigger China Business Through A New Securities Unit?
• Positive Sentiment: A report on Citi’s workforce reductions, restructuring and AI investments said the initiatives target $2 billion to $2.5 billion in annual savings, which could support profitability if the bank delivers on the plan. Will Citigroup’s Cost-Cut Initiatives Boost Long-Term Profitability?
• Negative Sentiment: Media reports described a police response, including SWAT teams, to a reported shooting at Citi’s Tampa campus and urged the public to stay away. The available report did not establish further details or any effect on Citi’s operations. Citi Tampa shooting report

Citigroup Company 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.