Retirement Systems of Alabama Reduces Stake in Citigroup Inc. $C

Retirement Systems of Alabama lessened its stake in Citigroup Inc. (NYSE:C) by 1.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,116,185 shares of the company’s stock after selling 15,282 shares during the quarter. Retirement Systems of Alabama’s holdings in Citigroup were worth $95,010,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in C. Goldman Sachs Group Inc. raised its stake in 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 purchasing an additional 9,334,038 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Citigroup during the 1st quarter worth about $578,100,000. Amundi boosted its holdings in Citigroup by 78.4% during 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. Price T Rowe Associates Inc. MD boosted its holdings in Citigroup by 6.6% during 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. Finally, B. Metzler seel. Sohn & Co. AG boosted its stake in shares of Citigroup by 2,230.8% in the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 2,630,308 shares of the company’s stock valued at $186,726,000 after buying an additional 2,517,459 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on C. Truist Financial boosted their target price on Citigroup from $105.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Zacks Research lowered Citigroup from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. The Goldman Sachs Group reiterated a “buy” rating and set a $118.00 target price on shares of Citigroup in a research report on Tuesday, October 14th. Morgan Stanley upped their price objective on Citigroup from $129.00 to $134.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Finally, Dbs Bank lowered Citigroup from a “moderate buy” rating to a “hold” rating in a research note on Monday, September 22nd. Eleven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and an average target price of $107.63.

Citigroup Trading Down 2.2%

Shares of NYSE C opened at $99.16 on Thursday. The company has a market cap of $182.54 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 0.85 and a beta of 1.37. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $105.59. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.62. The stock’s 50 day simple moving average is $98.35 and its 200 day simple moving average is $87.00.

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

Citigroup Dividend Announcement

The firm 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. This represents a $2.40 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, November 3rd. Citigroup’s dividend payout ratio (DPR) is 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.