Phoenix Financial Ltd. Decreases Stock Holdings in Citigroup Inc. $C

Phoenix Financial Ltd. lowered its holdings in Citigroup Inc. (NYSE:C) by 91.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 109,805 shares of the company’s stock after selling 1,111,210 shares during the quarter. Phoenix Financial Ltd.’s holdings in Citigroup were worth $9,387,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its stake in shares of Citigroup by 6.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company’s stock valued at $2,917,794,000 after acquiring an additional 2,539,769 shares during the period. Northern Trust Corp raised its stake in shares of Citigroup by 1.0% in the 1st quarter. Northern Trust Corp now owns 20,427,563 shares of the company’s stock valued at $1,450,153,000 after acquiring an additional 195,013 shares during the period. Invesco Ltd. raised its stake in shares of Citigroup by 3.6% in the 1st quarter. Invesco Ltd. now owns 16,839,915 shares of the company’s stock valued at $1,195,466,000 after acquiring an additional 592,820 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Citigroup by 179.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company’s stock valued at $1,031,790,000 after acquiring an additional 9,334,038 shares during the period. Finally, Amundi raised its stake in shares of Citigroup by 78.4% in the 1st quarter. Amundi now owns 13,713,517 shares of the company’s stock valued at $973,523,000 after acquiring an additional 6,026,268 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on C shares. Wall Street Zen raised shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Oppenheimer cut their target price on shares of Citigroup from $124.00 to $123.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 23rd. Cowen reaffirmed a “hold” rating and set a $110.00 price target on shares of Citigroup in a research note on Wednesday, October 15th. Keefe, Bruyette & Woods lifted their price target on shares of Citigroup from $112.00 to $118.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Morgan Stanley lifted their price target on shares of Citigroup from $129.00 to $134.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and an average price target of $107.63.

Citigroup Stock Performance

Citigroup stock opened at $99.18 on Tuesday. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $105.59. The company has a market capitalization of $182.58 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 0.82 and a beta of 1.37. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.99 and a quick ratio of 0.99. The firm’s fifty day moving average price is $97.72 and its 200 day moving average price is $85.15.

Citigroup (NYSE:C) last released its earnings results on Tuesday, October 14th. The company reported $1.86 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($0.03). The company had revenue of $22.09 billion during the quarter, compared to the consensus estimate of $20.92 billion. Citigroup had a return on equity of 7.91% and a net margin of 8.73%.Citigroup’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.51 EPS. Citigroup has set its FY 2025 guidance at EPS. On average, research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 3rd will be given a $0.60 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $2.40 annualized dividend and a dividend yield of 2.4%. Citigroup’s payout ratio is presently 33.71%.

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.