Citigroup Inc. $C Stock: DSG Capital Advisors LLC Lowers Holdings

DSG Capital Advisors LLC lowered its stake in shares of Citigroup Inc. (NYSE:C) by 4.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 93,974 shares of the company’s stock after selling 4,312 shares during the quarter. Citigroup comprises approximately 1.7% of DSG Capital Advisors LLC’s holdings, making the stock its 17th largest holding. DSG Capital Advisors LLC’s holdings in Citigroup were worth $12,168,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. State Street Corp raised its position 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 valued at $11,199,986,000 after buying an additional 2,913,701 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Citigroup during the second quarter worth about $3,244,602,000. Bank of America Corp DE grew its position 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 buying an additional 728,043 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in 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 valued at $1,745,001,000 after acquiring an additional 1,210,006 shares during the period. Finally, Amundi increased its stake in Citigroup by 3.2% during 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 during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Citigroup

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

Citigroup Trading Up 0.3%

C stock opened at $122.29 on Wednesday. Citigroup Inc. has a 1-year low of $95.83 and a 1-year high of $147.96. The firm has a market cap of $208.58 billion, a P/E ratio of 11.93, a P/E/G ratio of 0.54 and a beta of 1.18. The business’s 50 day moving average is $128.52 and its 200-day moving average 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 earnings results on Tuesday, October 13th. The company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.66 by $0.19. The business had revenue of $23.84 billion during the quarter, compared to the consensus estimate 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 quarter last year, the company earned $1.86 EPS. Equities analysts anticipate that Citigroup Inc. will post 11.44 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 2.2%. The ex-dividend date is Monday, November 2nd. Citigroup’s dividend payout ratio is currently 26.15%.

Analysts Set New Price Targets

A number of brokerages have commented on C. Wall Street Zen upgraded Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday. Truist Financial cut their target price on Citigroup from $158.00 to $154.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Weiss Ratings downgraded shares of Citigroup from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, October 2nd. HSBC began coverage on shares of Citigroup in a research note on Monday, September 28th. They set a “buy” rating and a $164.00 price target on the stock. Finally, Loop Capital set a $155.00 price target on shares of Citigroup in a report on Tuesday, October 13th. One 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $150.87.

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.