Citigroup Inc. (NYSE:C) Stock Position Decreased by abrdn plc

abrdn plc cut its position in shares of Citigroup Inc. (NYSE:C) by 10.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,153,091 shares of the company’s stock after selling 254,190 shares during the period. abrdn plc owned 0.11% of Citigroup worth $134,127,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Citigroup by 13.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company’s stock valued at $4,653,000 after acquiring an additional 8,593 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of Citigroup by 13.4% during the 1st quarter. Lazard Asset Management LLC now owns 201,456 shares of the company’s stock valued at $12,739,000 after acquiring an additional 23,774 shares during the last quarter. BDF Gestion acquired a new position in shares of Citigroup during the 2nd quarter valued at about $3,861,000. Advisory Services Network LLC increased its holdings in shares of Citigroup by 23.8% during the 1st quarter. Advisory Services Network LLC now owns 66,509 shares of the company’s stock valued at $4,206,000 after acquiring an additional 12,795 shares during the last quarter. Finally, Chesley Taft & Associates LLC acquired a new stake in Citigroup in the 2nd quarter valued at approximately $735,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Up 3.9 %

NYSE C opened at $64.20 on Tuesday. The stock has a fifty day moving average of $61.72 and a 200-day moving average of $61.99. The stock has a market capitalization of $122.45 billion, a P/E ratio of 17.98, a price-to-earnings-growth ratio of 0.74 and a beta of 1.44. Citigroup Inc. has a 52 week low of $38.41 and a 52 week high of $67.81. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94.

Citigroup (NYSE:C) last released its earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.31 by $0.20. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The company had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. During the same period last year, the firm earned $1.52 EPS. The business’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities research analysts forecast that Citigroup Inc. will post 5.76 EPS for the current year.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.49%. Citigroup’s dividend payout ratio (DPR) is presently 62.75%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on C shares. Barclays raised their target price on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Bank of America raised their target price on Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Piper Sandler raised their target price on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Morgan Stanley lowered their target price on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, Evercore ISI raised their target price on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $71.06.

Citigroup Profile

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.