Citigroup Inc. $C Stock Sold by Massachusetts Wealth Management

Massachusetts Wealth Management reduced its holdings in Citigroup Inc. (NYSE:C) by 10.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 45,910 shares of the company’s stock after selling 5,355 shares during the quarter. Citigroup makes up 2.3% of Massachusetts Wealth Management’s portfolio, making the stock its 8th biggest position. Massachusetts Wealth Management’s holdings in Citigroup were worth $5,944,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. State Street Corp grew its position in shares of Citigroup by 3.7% during the 2nd 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 America Corp DE raised its stake 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 acquiring an additional 728,043 shares during the period. Bank of New York Mellon Corp acquired a new stake in Citigroup during the second quarter worth about $3,244,602,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings 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 worth $1,745,001,000 after acquiring an additional 1,210,006 shares during the last quarter. Finally, Amundi lifted its holdings in Citigroup by 3.2% in the first quarter. Amundi now owns 12,126,823 shares of the company’s stock worth $1,375,303,000 after acquiring an additional 374,840 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Stock Up 1.1%

C stock opened at $123.85 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 1.78. Citigroup Inc. has a fifty-two week low of $95.00 and a fifty-two week high of $147.96. The firm’s 50-day simple moving average is $131.93 and its 200 day simple moving average is $132.11. The stock has a market cap of $211.24 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 0.54 and a beta of 1.13.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, October 13th. The company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.19. The firm had revenue of $23.84 billion for the quarter, compared to the consensus estimate of $23.74 billion. Citigroup had a net margin of 10.97% and a return on equity of 10.57%. Citigroup’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the firm posted $1.86 EPS. As a group, sell-side analysts predict that Citigroup Inc. will post 11.42 EPS for the current year.

Citigroup Announces Dividend

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

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Morgan Stanley views the post-earnings selloff as excessive. The firm reportedly sees approximately 32% upside for Citigroup, arguing that the roughly 6% decline after earnings was not justified. The bullish view could help support a rebound in C shares. Morgan Stanley says Citigroup’s post-earnings drop is unjustified
• Positive Sentiment: Citigroup declared a quarterly dividend of $0.67 per share. The payment is scheduled for November 25 for shareholders of record on November 2, representing an annualized dividend of $2.68 and a yield of roughly 2.2%. The continued payout reinforces the bank’s shareholder-return appeal. Citigroup Declares Common Stock Dividend
• Positive Sentiment: Citi is expanding its commercial and advertising capabilities through Citi Commerce Media. The initiative uses transaction insights to help advertisers predict consumer purchases, potentially creating a new fee and data-related revenue opportunity, although the financial impact is not yet quantified. Advertisers Should Stop Chasing Customers, Start Predicting Purchases: Citi’s Mike Venable
• Neutral Sentiment: Citigroup remains involved in strategic discussions over access to China’s financial market and is reorganizing its artificial-intelligence leadership. Progress on market permissions or AI capabilities could improve long-term growth, but the reports provide no immediate earnings impact. What Is Citigroup Signaling With China Talks And Its AI Reset?
• Neutral Sentiment: Citigroup disclosed that its stake in Solvay crossed 3%. The investment is unlikely to materially affect Citigroup’s valuation or near-term operating results. Citigroup Lifts Stake Above 3% in Solvay

Analyst Ratings Changes

A number of brokerages have commented on C. Oppenheimer downgraded Citigroup from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. Bank of America increased their price target on Citigroup from $170.00 to $176.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Royal Bank Of Canada cut their price target on Citigroup from $150.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, October 14th. Zacks Research downgraded Citigroup from a “strong-buy” rating to a “hold” rating in a report on Monday, September 14th. Finally, Evercore set a $135.00 price objective on Citigroup in a research report on Wednesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $150.79.

About Citigroup

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.