Geode Capital Management LLC Acquires 411,894 Shares of Citigroup Inc. $C

Geode Capital Management LLC boosted its stake in shares of Citigroup Inc. (NYSE:C) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,957,190 shares of the company’s stock after buying an additional 411,894 shares during the quarter. Geode Capital Management LLC’s holdings in Citigroup were worth $3,645,084,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its position in shares of Citigroup by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company’s stock valued at $2,917,794,000 after acquiring an additional 2,539,769 shares during the period. Northern Trust Corp raised its holdings in shares of Citigroup by 1.0% in the 1st quarter. Northern Trust Corp now owns 20,427,563 shares of the company’s stock worth $1,450,153,000 after purchasing an additional 195,013 shares during the period. Invesco Ltd. lifted its stake in Citigroup by 3.6% in the first quarter. Invesco Ltd. now owns 16,839,915 shares of the company’s stock valued at $1,195,466,000 after purchasing an additional 592,820 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Citigroup by 179.5% during the first quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company’s stock valued at $1,031,790,000 after purchasing an additional 9,334,038 shares during the period. Finally, Amundi increased its position in Citigroup by 78.4% in the first quarter. Amundi now owns 13,713,517 shares of the company’s stock worth $973,523,000 after buying an additional 6,026,268 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on C. Wall Street Zen raised Citigroup from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Piper Sandler increased their target price on shares of Citigroup from $107.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Morgan Stanley lifted their target price on shares of Citigroup from $129.00 to $134.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Weiss Ratings restated a “buy (b)” rating on shares of Citigroup in a research note on Wednesday, October 8th. Finally, Zacks Research lowered shares of Citigroup from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Eleven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $107.63.

Citigroup Price Performance

Shares of NYSE:C opened at $100.73 on Wednesday. The company has a 50 day moving average of $99.34 and a 200 day moving average of $89.46. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.62. The stock has a market cap of $185.43 billion, a P/E ratio of 14.15, a P/E/G ratio of 0.83 and a beta of 1.37. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $105.59.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, October 14th. The company reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.35. The business had revenue of $22.09 billion for the quarter, compared to analysts’ expectations of $20.92 billion. Citigroup had a net margin of 8.73% and a return on equity of 7.91%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.51 EPS. Citigroup has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Monday, November 3rd will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $2.40 annualized dividend and a yield of 2.4%. Citigroup’s dividend payout ratio (DPR) is currently 33.71%.

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.