23,185 Shares in Citigroup Inc. $C Acquired by Connective Portfolio Management LLC

Connective Portfolio Management LLC bought a new stake in Citigroup Inc. (NYSE:C) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 23,185 shares of the company’s stock, valued at approximately $2,333,000. Citigroup makes up about 4.1% of Connective Portfolio Management LLC’s holdings, making the stock its 7th largest holding.

Other hedge funds also recently modified their holdings of the company. Norges Bank purchased a new position in Citigroup in the 2nd quarter worth about $2,455,929,000. Amundi boosted its stake in Citigroup by 78.4% in the 1st quarter. Amundi now owns 13,713,517 shares of the company’s stock worth $973,523,000 after purchasing an additional 6,026,268 shares during the period. AQR Capital Management LLC grew its position in Citigroup by 52.8% during the 1st quarter. AQR Capital Management LLC now owns 6,621,300 shares of the company’s stock worth $456,737,000 after purchasing an additional 2,286,653 shares in the last quarter. Swedbank AB raised its stake in Citigroup by 14.8% during the 2nd quarter. Swedbank AB now owns 10,906,386 shares of the company’s stock valued at $928,352,000 after purchasing an additional 1,406,624 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Citigroup by 47.4% in the second quarter. Canada Pension Plan Investment Board now owns 4,334,407 shares of the company’s stock valued at $368,945,000 after purchasing an additional 1,393,865 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Down 1.0%

Shares of Citigroup stock opened at $120.40 on Friday. The firm has a market cap of $215.42 billion, a price-to-earnings ratio of 16.91, a P/E/G ratio of 0.60 and a beta of 1.21. The stock has a 50-day simple moving average of $105.08 and a 200-day simple moving average of $97.05. Citigroup Inc. has a 52-week low of $55.51 and a 52-week high of $122.84. 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 data on Tuesday, October 14th. The company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.35. The firm had revenue of $22.09 billion for the quarter, compared to the consensus estimate of $20.92 billion. Citigroup had a return on equity of 7.91% and a net margin of 8.73%.The firm’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.51 earnings per share. On average, equities research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Monday, November 3rd were issued a dividend of $0.60 per share. The ex-dividend date was Monday, November 3rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.0%. Citigroup’s dividend payout ratio (DPR) is currently 33.71%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on C shares. Keefe, Bruyette & Woods lifted their price target on Citigroup from $118.00 to $131.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. Wells Fargo & Company lifted their target price on Citigroup from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. Piper Sandler set a $118.00 target price on Citigroup in a report on Wednesday, December 10th. Oppenheimer decreased their price target on shares of Citigroup from $123.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, November 19th. Finally, UBS Group reaffirmed a “neutral” rating and set a $108.00 price objective on shares of Citigroup in a research report on Monday, November 24th. Thirteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $114.50.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Regulatory relief, progress on the Banamex stake sale and growing turnaround optimism are boosting Citi’s valuation narrative — investors view these developments as freeing capital and reducing legacy overhang, supporting a re-rate. Citigroup (C): Valuation Check After Regulatory Relief, Banamex Stake Sale Progress and Turnaround Optimism
• Positive Sentiment: Analyst coverage notes Citi can benefit from an eventual Fed easing cycle — lower funding costs and stronger loan demand would help net interest margins and fee income across big banks, giving Citi upside if macro shifts as expected. The Zacks Analyst Blog Wells Fargo, Bank of America and Citigroup
• Positive Sentiment: Recent sessions showed Citi outperforming peers on bouts of buying interest, indicating pockets of accumulation from traders expecting the turnaround story to play out. Citigroup Inc. stock outperforms competitors on strong trading day
• Neutral Sentiment: Market-support readings and technicals are mixed — some analyses flag that Citi’s momentum indicators and short-interest/market-structure signals leave room for consolidation instead of a clean breakout. Is Citigroup Inc Gaining or Losing Market Support?
• Negative Sentiment: Execution risk and headline sensitivity remain — delays or a smaller-than-expected Banamex sale, plus below-average trading volume and profit-taking after a strong run, can pressure the stock even with positive fundamentals. (Related coverage on the Banamex/regulatory story above.)

Citigroup Profile

Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.

Citi’s principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.