Citigroup Inc. $C Holdings Decreased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund decreased its holdings in shares of Citigroup Inc. (NYSE:C) by 10.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 202,755 shares of the company’s stock after selling 22,791 shares during the period. Illinois Municipal Retirement Fund’s holdings in Citigroup were worth $26,253,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Compass Financial Management LLC bought a new stake in Citigroup during the 2nd quarter valued at $898,000. Andra AP fonden raised its position in shares of Citigroup by 22.3% in the 2nd quarter. Andra AP fonden now owns 274,600 shares of the company’s stock worth $38,433,000 after acquiring an additional 50,100 shares in the last quarter. Concurrent Investment Advisors LLC raised its position 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 worth $18,467,000 after acquiring an additional 31,007 shares in the last quarter. Saudi Central Bank lifted its stake in shares of Citigroup by 80.8% during the 2nd quarter. Saudi Central Bank now owns 119,392 shares of the company’s stock worth $16,710,000 after purchasing an additional 53,348 shares during the last quarter. Finally, State Street Corp lifted its stake 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 purchasing an additional 2,913,701 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

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

Several equities analysts have issued reports on C shares. Royal Bank Of Canada cut their target price on Citigroup from $150.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 14th. Loop Capital set a $155.00 target price on shares of Citigroup in a report on Tuesday, October 13th. Truist Financial decreased their price target on shares of Citigroup from $158.00 to $154.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. Wall Street Zen upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Zacks Research downgraded shares of Citigroup from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 14th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $150.87.

Citigroup Stock Up 0.3%

Citigroup stock opened at $122.29 on Wednesday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.00 and a current ratio of 1.00. The business’s 50-day simple moving average is $128.52 and its two-hundred day simple moving average is $126.67. The company has a market cap of $208.58 billion, a PE ratio of 11.93, a PEG ratio of 0.54 and a beta of 1.18. Citigroup Inc. has a fifty-two week low of $95.83 and a fifty-two week high of $147.96.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, October 13th. The company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.66 by $0.19. The business had revenue of $23.84 billion during the quarter, compared to analysts’ expectations of $23.74 billion. Citigroup had a net margin of 10.97% and a return on equity of 10.57%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.86 EPS. Equities analysts anticipate that Citigroup Inc. will post 11.44 EPS for the current year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 2nd will be given a dividend of $0.67 per share. The ex-dividend date is Monday, November 2nd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.2%. Citigroup’s dividend payout ratio (DPR) is 26.15%.

Citigroup Company Profile

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.