Norges Bank Invests $2.46 Billion in Citigroup Inc. $C

Norges Bank bought a new stake in Citigroup Inc. (NYSE:C) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 28,852,555 shares of the company’s stock, valued at approximately $2,455,929,000. Norges Bank owned approximately 1.57% of Citigroup as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Private Advisory Group LLC increased its holdings in shares of Citigroup by 20.8% in the 1st quarter. Private Advisory Group LLC now owns 69,581 shares of the company’s stock valued at $4,940,000 after purchasing an additional 11,978 shares in the last quarter. Keystone Financial Services purchased a new position in Citigroup in the second quarter valued at about $216,000. Brighton Jones LLC lifted its position in shares of Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after acquiring an additional 12,499 shares during the period. Hayek Kallen Investment Management boosted its stake in shares of Citigroup by 125.0% during the 1st quarter. Hayek Kallen Investment Management now owns 15,534 shares of the company’s stock worth $1,103,000 after acquiring an additional 8,630 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Citigroup by 3.9% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 257,930 shares of the company’s stock worth $21,955,000 after acquiring an additional 9,644 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Performance

Shares of C opened at $102.59 on Friday. Citigroup Inc. has a 1 year low of $55.51 and a 1 year high of $105.59. The company’s 50 day simple moving average is $99.77 and its 200 day simple moving average is $91.73. The company has a market capitalization of $183.56 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 0.83 and a beta of 1.37. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.99 and a current ratio of 0.99.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, October 14th. The company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.35. Citigroup had a return on equity of 7.91% and a net margin of 8.73%.The company had revenue of $22.09 billion during the quarter, compared to the consensus estimate of $20.92 billion. During the same period in the previous year, the firm posted $1.51 EPS. Citigroup’s revenue was up 9.3% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Monday, November 3rd were given a dividend of $0.60 per share. The ex-dividend date was Monday, November 3rd. This represents a $2.40 annualized dividend and a yield of 2.3%. Citigroup’s dividend payout ratio is 33.71%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Oppenheimer decreased their target price on Citigroup from $123.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 19th. Zacks Research cut shares of Citigroup from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. The Goldman Sachs Group restated a “buy” rating and set a $118.00 target price on shares of Citigroup in a research report on Tuesday, October 14th. Keefe, Bruyette & Woods increased their price target on shares of Citigroup from $112.00 to $118.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Citigroup in a research report on Wednesday, October 8th. Eleven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $108.70.

About Citigroup

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.