Citigroup Inc. $C Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund decreased its holdings in shares of Citigroup Inc. (NYSE:C) by 10.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 202,755 shares of the company’s stock after selling 22,791 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Citigroup were worth $26,253,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Compass Financial Management LLC acquired a new stake in Citigroup during the second quarter worth about $898,000. Andra AP fonden boosted its holdings in Citigroup by 22.3% in the 2nd quarter. Andra AP fonden now owns 274,600 shares of the company’s stock valued at $38,433,000 after purchasing an additional 50,100 shares during the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of Citigroup by 30.7% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 131,946 shares of the company’s stock valued at $18,467,000 after buying an additional 31,007 shares during the period. Saudi Central Bank grew its stake in shares of Citigroup by 80.8% in the 2nd quarter. Saudi Central Bank now owns 119,392 shares of the company’s stock valued at $16,710,000 after buying an additional 53,348 shares during the period. Finally, State Street Corp increased its holdings 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 worth $11,199,986,000 after buying an additional 2,913,701 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Price Performance

Citigroup stock opened at $122.29 on Wednesday. The company’s 50 day simple moving average is $128.52 and its 200-day simple moving average is $126.67. The company has a market capitalization of $208.58 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 0.54 and a beta of 1.18. Citigroup Inc. has a 1 year low of $95.83 and a 1 year high of $147.96. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.00 and a current ratio of 1.00.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, October 13th. The company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.66 by $0.19. The firm 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% compared to the same quarter last year. During the same period in the prior year, the business posted $1.86 EPS. As a group, equities research analysts expect that Citigroup Inc. will post 11.44 earnings per share 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 dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Monday, November 2nd. Citigroup’s dividend payout ratio is 26.15%.

Trending Headlines about 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

Analyst Upgrades and Downgrades

A number of research firms recently commented on C. TD Cowen decreased their price objective on Citigroup from $150.00 to $148.00 and set a “buy” rating on the stock in a report on Wednesday, October 14th. Loop Capital set a $155.00 target price on Citigroup in a research note on Tuesday, October 13th. JPMorgan Chase & Co. lifted their target price on Citigroup from $147.00 to $148.50 and gave the company an “overweight” rating in a research report on Friday, October 30th. UBS Group set a $148.00 target price on Citigroup in a research report on Wednesday, October 14th. Finally, Weiss Ratings lowered Citigroup from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, October 2nd. One investment 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $150.87.

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.