Nordea Investment Management AB Lowers Holdings in Citigroup Inc. $C

by · The Cerbat Gem

Nordea Investment Management AB trimmed its holdings in Citigroup Inc. (NYSE:C – Free Report) by 2.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 7,201,827 shares of the company’s stock after selling 208,060 shares during the period. Nordea Investment Management AB’s holdings in Citigroup were worth $613,740,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Private Advisory Group LLC boosted its holdings in Citigroup by 20.8% in the first quarter. Private Advisory Group LLC now owns 69,581 shares of the company’s stock valued at $4,940,000 after purchasing an additional 11,978 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in shares of Citigroup by 109.0% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company’s stock worth $88,458,000 after acquiring an additional 649,807 shares in the last quarter. Brighton Jones LLC boosted its stake in shares of Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after acquiring an additional 12,499 shares in the last quarter. Onyx Bridge Wealth Group LLC purchased a new stake in shares of Citigroup during the 1st quarter worth about $214,000. Finally, Hayek Kallen Investment Management boosted its stake in shares of Citigroup by 125.0% during the 1st quarter. Hayek Kallen Investment Management now owns 15,534 shares of the company’s stock worth $1,103,000 after acquiring an additional 8,630 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Barclays increased their target price on shares of Citigroup from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday. Weiss Ratings reissued a “buy (b)” rating on shares of Citigroup in a research note on Wednesday, October 8th. Dbs Bank lowered shares of Citigroup from a “moderate buy” rating to a “hold” rating in a research note on Monday, September 22nd. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Citigroup in a research note on Wednesday, July 16th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $118.00 price target on shares of Citigroup in a research note on Tuesday. Eleven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $105.90.

Get Our Latest Research Report on Citigroup

Citigroup Trading Down 3.6%

Shares of Citigroup stock opened at $96.20 on Friday. The firm has a market capitalization of $177.09 billion, a PE ratio of 13.51, a P/E/G ratio of 0.87 and a beta of 1.37. Citigroup Inc. has a twelve month low of $55.51 and a twelve month high of $105.59. The firm’s 50-day moving average price is $97.50 and its 200 day moving average price is $84.44. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.62.

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

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Monday, November 3rd will be issued a $0.60 dividend. The ex-dividend date is Monday, November 3rd. This represents a $2.40 dividend on an annualized basis and a yield of 2.5%. Citigroup’s dividend payout ratio is presently 33.71%.

Citigroup Company Profile

(Free Report)

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.

See Also

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