Citigroup Inc. $C Stock Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its position in shares of Citigroup Inc. (NYSE:C) by 8.3% during the third quarter, Holdings Channel reports. The firm owned 3,912,171 shares of the company’s stock after buying an additional 298,981 shares during the quarter. Citigroup comprises approximately 0.4% of Russell Investments Group Ltd.’s holdings, making the stock its 24th biggest position. Russell Investments Group Ltd.’s holdings in Citigroup were worth $507,417,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Grove Bank & Trust raised its stake in shares of Citigroup by 1.8% during the 3rd quarter. Grove Bank & Trust now owns 4,549 shares of the company’s stock worth $589,000 after buying an additional 79 shares during the last quarter. American Trust boosted its position in shares of Citigroup by 3.6% in the 2nd quarter. American Trust now owns 2,331 shares of the company’s stock worth $326,000 after buying an additional 80 shares in the last quarter. Invst LLC boosted its position in shares of Citigroup by 0.8% in the 2nd quarter. Invst LLC now owns 9,601 shares of the company’s stock worth $1,344,000 after buying an additional 80 shares in the last quarter. Tsfg LLC boosted its position in shares of Citigroup by 4.9% in the 2nd quarter. Tsfg LLC now owns 1,701 shares of the company’s stock worth $238,000 after buying an additional 80 shares in the last quarter. Finally, Somerset Trust Co grew its stake in Citigroup by 0.6% in the 2nd quarter. Somerset Trust Co now owns 14,955 shares of the company’s stock valued at $2,093,000 after acquiring an additional 82 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

C has been the subject of several recent research reports. Zacks Research downgraded shares of Citigroup from a “strong-buy” rating to a “hold” rating in a report on Monday, September 14th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Citigroup in a research report on Wednesday, October 14th. Evercore set a $135.00 price target on shares of Citigroup in a report on Wednesday, October 14th. JPMorgan Chase & Co. increased their price target on shares of Citigroup from $147.00 to $148.50 and gave the company an “overweight” rating in a research report on Friday, October 30th. Finally, Wall Street Zen upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday, November 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $150.87.

Citigroup Trading Down 0.1%

Shares of C stock opened at $124.09 on Friday. The firm’s 50-day simple moving average is $128.15 and its 200-day simple moving average is $126.77. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.00 and a quick ratio of 1.00. 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 $211.65 billion, a P/E ratio of 12.11, a PEG ratio of 0.55 and a beta of 1.18.

Citigroup (NYSE:C) last released its 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 net margin of 10.97% and a return on equity of 10.57%. The firm had revenue of $23.84 billion during the quarter, compared to the consensus estimate of $23.74 billion. During the same period in the previous year, the firm earned $1.86 earnings per share. Citigroup’s revenue was up 7.9% compared to the same quarter last year. As a group, equities analysts forecast that Citigroup Inc. will post 11.44 EPS for the current year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders 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%.

Trending Headlines about Citigroup

Investors following C have been watching these headlines:

• Positive Sentiment: Citi is redesigning 100 processes as it adopts AI, a potentially meaningful efficiency initiative. The accompanying survey found only 13% of banking professionals say their institutions typically redesign workflows end to end when adopting AI, suggesting Citi’s effort could help distinguish its transformation if it delivers results. Exclusive research: Citi is redesigning 100 processes. What’s stopping others?
• Neutral Sentiment: Citi will redeem $1 billion of its 4.15% Series Y preferred stock, ending dividend accrual on November 15. The move simplifies its capital structure, but the report does not establish a material effect on common-share earnings or capital. Citigroup (C) Redeems Preferred Stock
• Neutral Sentiment: A post-earnings update says shares were up 1.6% since Citi’s latest report and points investors to earnings estimates for clues about future performance; it offers no fresh results or guidance. Citigroup (C) Up 1.6% Since Last Earnings Report: Can It Continue?

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.