Legacy Financial Independent Advisors LLC Buys 5,531 Shares of Citigroup Inc. $C

Legacy Financial Independent Advisors LLC purchased a new position in Citigroup Inc. (NYSE:C) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,531 shares of the company’s stock, valued at approximately $716,000.

Other hedge funds also recently made changes to their positions in the company. Compass Financial Management LLC bought a new stake in Citigroup during the 2nd quarter worth approximately $898,000. Andra AP fonden lifted its stake in Citigroup by 22.3% in the 2nd quarter. Andra AP fonden now owns 274,600 shares of the company’s stock worth $38,433,000 after purchasing an additional 50,100 shares in the last quarter. Concurrent Investment Advisors LLC boosted its holdings in Citigroup by 30.7% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 131,946 shares of the company’s stock valued at $18,467,000 after purchasing an additional 31,007 shares during the period. Saudi Central Bank boosted its holdings in Citigroup by 80.8% in the 2nd quarter. Saudi Central Bank now owns 119,392 shares of the company’s stock valued at $16,710,000 after purchasing an additional 53,348 shares during the period. Finally, State Street Corp boosted its holdings 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 purchasing an additional 2,913,701 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

C has been the topic of several research analyst reports. Loop Capital set a $155.00 price target on shares of Citigroup in a report on Tuesday, October 13th. Royal Bank Of Canada dropped their price objective on Citigroup from $150.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, October 14th. Wall Street Zen lowered Citigroup from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. boosted their target price on Citigroup from $147.00 to $148.50 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Finally, Truist Financial decreased their target price on Citigroup from $158.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $150.87.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: China approved Citigroup’s wholly owned securities company, which can provide brokerage, underwriting and research services. The approval expands the bank’s onshore presence and potential access to China’s capital markets. Why Is Citigroup Building a Bigger China Business?
• Neutral Sentiment: Reports documented a sharp drop in Citigroup shares, but did not identify a specific cause. Separate articles about analyst recommendations and investor search interest offered no new earnings, rating or business information that clearly explains the move. Citigroup Drops in a Single Session
• Neutral Sentiment: Federal Reserve and OCC officials reportedly contacted banks after a major Binance hack to ask about unusual activity or service disruptions. The inquiries could lead to greater scrutiny of crypto-related risks, but the reports did not cite a specific issue at Citigroup. Binance Heist Triggers Alarm Among Banking Regulators
• Negative Sentiment: Democrats’ control of both chambers of Congress could slow the administration’s financial deregulation agenda and increase scrutiny of banks. That may weigh on expectations for a more favorable regulatory environment, though the article describes a sector-wide risk rather than a new Citi-specific action. Midterm Election Results: What’s Ahead for Financial Stocks?

Citigroup Stock Performance

NYSE:C opened at $118.38 on Friday. The company has a market capitalization of $201.91 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 0.55 and a beta of 1.18. Citigroup Inc. has a 1-year low of $95.83 and a 1-year high of $147.96. The business has a 50 day moving average of $129.20 and a 200 day moving average of $126.57. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.00 and a quick ratio of 0.99.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, October 13th. The company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.19. The business had revenue of $23.84 billion during the quarter, compared to the consensus estimate of $23.74 billion. Citigroup had a net margin of 10.97% and a return on equity of 10.57%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.86 earnings per share. On average, sell-side analysts predict that Citigroup Inc. will post 11.44 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Monday, November 2nd will be issued a $0.67 dividend. The ex-dividend date is Monday, November 2nd. This represents a $2.68 annualized dividend and a yield of 2.3%. Citigroup’s payout ratio is 26.15%.

Citigroup Company Profile

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.