Revolve Wealth Partners LLC Buys 6,255 Shares of Citigroup Inc. $C

Revolve Wealth Partners LLC increased its position in Citigroup Inc. (NYSE:C) by 246.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,790 shares of the company’s stock after acquiring an additional 6,255 shares during the quarter. Revolve Wealth Partners LLC’s holdings in Citigroup were worth $1,230,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in C. Whipplewood Advisors LLC bought a new position in Citigroup in the 1st quarter worth $25,000. Mcguire Capital Advisors Inc. bought a new stake in Citigroup during the fourth quarter valued at about $25,000. Richards Merrill & Peterson Inc. bought a new stake in Citigroup during the fourth quarter valued at about $28,000. TD Capital Management LLC purchased a new position in shares of Citigroup in the fourth quarter valued at about $28,000. Finally, IMG Wealth Management Inc. boosted its stake in shares of Citigroup by 197.6% in the first quarter. IMG Wealth Management Inc. now owns 244 shares of the company’s stock worth $28,000 after acquiring an additional 162 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Up 0.1%

Shares of NYSE:C opened at $135.15 on Tuesday. The company has a market cap of $230.51 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 0.61 and a beta of 1.12. Citigroup Inc. has a 12 month low of $90.68 and a 12 month high of $147.96. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71. The company has a 50-day moving average price of $136.93 and a 200 day moving average price of $125.03.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, July 14th. The company reported $3.15 earnings per share for the quarter, topping the consensus estimate of $2.74 by $0.41. The company had revenue of $24.77 billion for the quarter, compared to analysts’ expectations of $23.74 billion. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.96 earnings per share. As a group, equities research analysts predict that Citigroup Inc. will post 11.2 earnings per share for the current year.

Citigroup declared that its board has approved a stock repurchase program on Thursday, May 7th that permits the company to buyback $30.00 billion in shares. This buyback authorization permits the company to repurchase up to 13.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 3rd will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, August 3rd. This is a boost from Citigroup’s previous quarterly dividend of $0.60. Citigroup’s payout ratio is currently 28.94%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on C. Barclays increased their target price on Citigroup from $146.00 to $154.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Zacks Research raised Citigroup from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Wells Fargo & Company upped their price target on Citigroup from $162.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, June 18th. Royal Bank Of Canada reiterated an “outperform” rating and set a $150.00 price objective on shares of Citigroup in a research report on Wednesday, July 15th. Finally, Wall Street Zen downgraded shares of Citigroup from a “buy” rating to a “hold” rating in a report on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $145.22.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup appointed Jean-Baptiste Charlet, previously Morgan Stanley’s head of France, to lead its French operations. The hire may strengthen Citi’s investment-banking and commercial-banking presence in a key European market, although the near-term financial impact is likely limited. Citigroup poaches Charlet from Morgan Stanley to head French arm
• Neutral Sentiment: Citigroup-related entities exited substantial-holder status in Vulcan Energy Resources. This appears to be a portfolio or ownership disclosure rather than a change to Citi’s core operations, and it is unlikely to have a meaningful effect on C shares. Citigroup Group Entities Exit Substantial Holder Status in Vulcan Energy Resources
• Neutral Sentiment: A Citigroup analyst lowered the price target on Micron Technology while retaining a Buy rating, citing slowing memory-price growth and Chinese capacity risks. The report affects Micron directly, but has no immediate earnings implication for Citigroup beyond its role as the research provider. Micron’s Memory Boom Is Heading For A Peak, Analyst Warns

About Citigroup

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.