Citigroup Inc. $C is ACR Alpine Capital Research LLC’s 2nd Largest Position

ACR Alpine Capital Research LLC raised its holdings in Citigroup Inc. (NYSE:C) by 10.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,695,946 shares of the company’s stock after acquiring an additional 518,494 shares during the quarter. Citigroup makes up 8.7% of ACR Alpine Capital Research LLC’s holdings, making the stock its 2nd largest holding. ACR Alpine Capital Research LLC’s holdings in Citigroup were worth $484,839,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Citigroup by 18.1% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 314,064 shares of the company’s stock worth $26,733,000 after buying an additional 48,100 shares during the period. Transcend Capital Advisors LLC grew its stake in Citigroup by 9.6% in the 2nd quarter. Transcend Capital Advisors LLC now owns 20,901 shares of the company’s stock worth $1,779,000 after acquiring an additional 1,824 shares in the last quarter. Convergence Investment Partners LLC increased its position in shares of Citigroup by 31.8% during the second quarter. Convergence Investment Partners LLC now owns 21,776 shares of the company’s stock worth $1,854,000 after acquiring an additional 5,253 shares during the period. Brickwood Asset Management LLP bought a new stake in shares of Citigroup during the second quarter valued at approximately $455,000. Finally, Ashton Thomas Private Wealth LLC raised its stake in shares of Citigroup by 6.5% during the second quarter. Ashton Thomas Private Wealth LLC now owns 94,334 shares of the company’s stock valued at $8,030,000 after acquiring an additional 5,726 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on C. TD Cowen raised their price objective on Citigroup from $105.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Morgan Stanley increased their price target on Citigroup from $129.00 to $134.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. UBS Group restated a “neutral” rating and set a $89.00 price target on shares of Citigroup in a research note on Tuesday, July 15th. Zacks Research downgraded Citigroup from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. Finally, Wells Fargo & Company increased their target price on shares of Citigroup from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Eleven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $107.63.

Citigroup Trading Up 2.2%

Shares of NYSE C opened at $100.97 on Tuesday. Citigroup Inc. has a 1-year low of $55.51 and a 1-year high of $105.59. The business has a fifty day moving average price of $98.07 and a 200 day moving average price of $86.45. The stock has a market capitalization of $185.87 billion, a P/E ratio of 14.18, a price-to-earnings-growth ratio of 0.83 and a beta of 1.37. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.99 and a quick ratio of 0.99.

Citigroup (NYSE:C) last released its quarterly 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 firm had revenue of $22.09 billion for the quarter, compared to analysts’ expectations of $20.92 billion. During the same period in the previous year, the company posted $1.51 earnings per share. The business’s quarterly 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 fiscal year.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Monday, November 3rd will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.4%. The ex-dividend date 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.