Citigroup Inc. $C Stake Reduced by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lowered its holdings in Citigroup Inc. (NYSE:C) by 2.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 323,837 shares of the company’s stock after selling 8,275 shares during the period. Pinnacle Associates Ltd.’s holdings in Citigroup were worth $41,930,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. State Street Corp increased its stake in Citigroup by 3.7% in the 2nd quarter. State Street Corp now owns 80,956,349 shares of the company’s stock valued at $11,199,986,000 after buying an additional 2,913,701 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Citigroup by 2.8% during the 1st quarter. Bank of America Corp DE now owns 26,869,012 shares of the company’s stock worth $3,047,215,000 after buying an additional 728,043 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Citigroup during the 2nd quarter worth about $3,244,602,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Citigroup by 10.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,467,857 shares of the company’s stock worth $1,745,001,000 after buying an additional 1,210,006 shares during the last quarter. Finally, Amundi grew its holdings in shares of Citigroup by 3.2% in the 1st quarter. Amundi now owns 12,126,823 shares of the company’s stock valued at $1,375,303,000 after acquiring an additional 374,840 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

C has been the subject of several analyst reports. Oppenheimer cut Citigroup from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 30th. UBS Group set a $148.00 target price on Citigroup in a report on Wednesday, October 14th. Weiss Ratings cut Citigroup from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 2nd. HSBC initiated coverage on Citigroup in a research note on Monday, September 28th. They issued a “buy” rating and a $164.00 price target for the company. Finally, Wall Street Zen downgraded Citigroup from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.79.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Morgan Stanley sees significant upside. The firm reportedly believes Citigroup’s recent decline was unjustified and estimates approximately 32% upside, potentially supporting the stock after its roughly 6% post-earnings drop. Morgan Stanley sees 32% Citigroup upside after brutal sell-off
• Positive Sentiment: Dividend declaration provides shareholder support. Citigroup’s board approved a quarterly common-stock dividend of $0.67 per share, payable November 25 to shareholders of record November 2. The board also approved dividends for 12 preferred-stock series, reinforcing the bank’s capital-return profile. Citigroup Declares Common Stock Dividend
• Positive Sentiment: Citi Commerce Media opens a potential growth avenue. The bank is using transaction data to help advertisers predict future purchases, creating a new commercial-data and advertising business that could diversify revenue beyond traditional banking. Advertisers Should Stop Chasing Customers, Start Predicting Purchases
• Neutral Sentiment: China access and AI restructuring remain watch points. U.S.-China discussions reportedly addressed Citigroup’s permissions in China, while Citi expanded its AI leadership team with external hires and internal promotions. Progress could improve long-term growth, but the financial impact remains uncertain. What Is Citigroup Signaling With China Talks And Its AI Reset?
• Neutral Sentiment: Citigroup crossed a 3% ownership threshold in Solvay. The disclosure reflects a financial-interest position, but it does not appear to materially affect Citigroup’s earnings outlook. Citigroup Lifts Stake Above 3% in Solvay

Citigroup Price Performance

Shares of C opened at $122.56 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 1.78. The company’s fifty day simple moving average is $132.20 and its 200 day simple moving average is $132.05. Citigroup Inc. has a 1-year low of $95.00 and a 1-year high of $147.96. The company has a market cap of $209.03 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 0.53 and a beta of 1.13.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, October 13th. The company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.19. The firm 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 company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.86 earnings per share. On average, research analysts forecast that Citigroup Inc. will post 11.42 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

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

About Citigroup

Citigroup Inc is a global financial services company headquartered in New York City and operates under the Citi brand. The company provides banking, lending, investment, wealth management and other financial services to individuals, businesses, institutions and governments.

Citi’s consumer offerings include checking and savings accounts, credit cards, mortgages, personal lending and wealth management services. Through its institutional businesses, the company provides investment banking, commercial banking, securities brokerage, markets and trading, cash management, trade finance and custody services.