Citigroup Inc. $C Shares Bought by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. boosted its holdings in shares of Citigroup Inc. (NYSE:C) by 8.6% during the 3rd quarter, Holdings Channel reports. The fund owned 302,912 shares of the company’s stock after buying an additional 23,945 shares during the period. Rakuten Investment Management Inc.’s holdings in Citigroup were worth $39,621,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in C. Paladin Partners LLC bought a new stake in shares of Citigroup in the 2nd quarter valued at about $27,000. Pin Oak Investment Advisors Inc. bought a new position in shares of Citigroup during the second quarter valued at approximately $29,000. Balance Wealth Partners LLC bought a new position in shares of Citigroup during the third quarter valued at approximately $27,000. Whipplewood Advisors LLC bought a new position in shares of Citigroup during the first quarter valued at approximately $25,000. Finally, Center for Financial Planning Inc. increased its holdings in Citigroup by 78.7% during the third quarter. Center for Financial Planning Inc. now owns 243 shares of the company’s stock valued at $31,000 after buying an additional 107 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup’s workforce reductions, restructuring and AI investments are intended to generate $2 billion to $2.5 billion in annual savings. If achieved, the savings could support stronger long-term profitability, though execution and restructuring costs remain factors to watch. Will Citigroup’s Cost-Cut Initiatives Boost Long-Term Profitability?
• Positive Sentiment: A report says Citigroup’s price target was raised to $148.50, a favorable analyst signal, although the available details do not provide the rationale for the increase. Citigroup Price Target Raised to $148.50
• Neutral Sentiment: Citigroup is reportedly providing financing for Andrea Del Vecchio’s effort to gain control of Delfin. The financing could generate business for the bank, but the reported item provides no deal terms or expected financial contribution. Market Chatter: Citigroup Provides Financing for Del Vecchio’s Push to Gain Control of Delfin

Citigroup Trading Down 0.4%

NYSE:C opened at $122.66 on Wednesday. Citigroup Inc. has a 52 week low of $95.83 and a 52 week high of $147.96. The firm has a 50 day moving average of $129.67 and a 200 day moving average of $126.53. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 1.78. The stock has a market capitalization of $209.20 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 0.54 and a beta of 1.18.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, October 13th. The company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $0.19. The business had revenue of $23.84 billion for 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 business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.86 earnings per share. As a group, sell-side 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. Stockholders 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 dividend yield of 2.2%. The ex-dividend date is Monday, November 2nd. Citigroup’s payout ratio is presently 26.15%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on C. Evercore set a $135.00 price objective on shares of Citigroup in a research note on Wednesday, October 14th. Royal Bank Of Canada lowered their target price on Citigroup from $150.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, October 14th. HSBC started coverage on Citigroup in a research report on Monday, September 28th. They set a “buy” rating and a $164.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on Citigroup from $147.00 to $148.50 and gave the company an “overweight” rating in a report on Friday, October 30th. Finally, Truist Financial reduced their price target on Citigroup from $158.00 to $154.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Citigroup has an average rating of “Moderate Buy” and an average target price of $150.87.

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.