Arizona State Retirement System Has $66.24 Million Position in Citigroup Inc. $C

Arizona State Retirement System lowered its position in shares of Citigroup Inc. (NYSE:C) by 3.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 473,271 shares of the company’s stock after selling 16,873 shares during the quarter. Arizona State Retirement System’s holdings in Citigroup were worth $66,239,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in C. California State Teachers Retirement System grew its stake in shares of Citigroup by 12,834.2% in the second quarter. California State Teachers Retirement System now owns 360,205,535 shares of the company’s stock valued at $50,414,367,000 after buying an additional 357,420,622 shares in the last quarter. Norges Bank bought a new stake in Citigroup during the fourth quarter worth $2,800,944,000. Bank of New York Mellon Corp acquired a new stake in Citigroup in the second quarter valued at $3,244,602,000. Nykredit A S acquired a new stake in Citigroup in the second quarter valued at $458,275,000. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in Citigroup in the fourth quarter valued at $298,082,000. 71.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Weiss Ratings upgraded Citigroup from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, August 24th. Argus set a $150.00 price objective on Citigroup in a research report on Wednesday, July 15th. Truist Financial reduced 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. JPMorgan Chase & Co. boosted their target price on Citigroup from $135.50 to $149.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Finally, UBS Group dropped their price target on Citigroup from $150.00 to $142.00 and set a “neutral” rating on the stock in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.22.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup could receive final Chinese regulatory approval as soon as September for its wholly owned mainland brokerage. Citi plans to roughly double the unit’s staff, expanding its presence in China’s technology, healthcare, consumer and financial sectors and creating a potential long-term growth opportunity. Citigroup Moves Deeper Into China’s Capital Markets
• Positive Sentiment: Citi and DBS completed a live Singapore-to-U.S. dollar payment over a weekend in minutes using tokenized bank deposits and SWIFT’s Digital Ledger. The transaction highlights Citi’s payments technology and could support its transaction-banking franchise by enabling faster, around-the-clock cross-border settlement. Citi and DBS Mark First Singapore-to-U.S. Weekend Dollar Transaction
• Neutral Sentiment: Citi’s analysts expect semiconductor stocks to rebound on data-center demand, while the bank also became more bullish on trucking stocks. These calls may benefit Citi’s investment-banking and trading activity if market sentiment improves, but they do not directly change the company’s earnings outlook. Citi’s Semiconductor Outlook
• Negative Sentiment: Analysts warn that capital-markets momentum is fading in the third quarter. Because Citi has significant investment-banking and markets exposure, softer deal activity, underwriting and trading revenue could produce uneven results and offset some benefits from the China expansion and payments initiatives. Capital Markets Momentum Fades

Citigroup Price Performance

Citigroup stock traded down $1.08 during mid-day trading on Tuesday, reaching $136.64. 6,470,876 shares of the company were exchanged, compared to its average volume of 12,816,758. The company has a fifty day simple moving average of $135.16 and a 200-day simple moving average of $127.72. Citigroup Inc. has a 12 month low of $93.66 and a 12 month high of $147.96. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market cap of $233.05 billion, a PE ratio of 14.76, a PEG ratio of 0.62 and a beta of 1.12.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.74 by $0.41. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The company had revenue of $24.77 billion during the quarter, compared to the consensus estimate of $23.74 billion. During the same quarter in the prior year, the firm posted $1.96 EPS. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. As a group, equities research analysts expect that Citigroup Inc. will post 11.21 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 3rd were paid a $0.67 dividend. This is an increase from Citigroup’s previous quarterly dividend of $0.60. This represents a $2.68 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Monday, August 3rd. Citigroup’s payout ratio is currently 28.94%.

Citigroup Company Profile

Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.

Citi’s principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.