Nissay Asset Management Corp Japan Reduces Stock Holdings in Citigroup Inc. $C

Nissay Asset Management Corp Japan trimmed its position in shares of Citigroup Inc. (NYSE:C) by 21.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 754,385 shares of the company’s stock after selling 201,538 shares during the quarter. Nissay Asset Management Corp Japan’s holdings in Citigroup were worth $105,584,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Whipplewood Advisors LLC purchased a new position in shares of Citigroup during the 1st quarter valued at $25,000. Mcguire Capital Advisors Inc. bought a new position in shares of Citigroup during the 4th quarter worth $25,000. Paladin Partners LLC purchased a new stake in Citigroup in the 2nd quarter worth about $27,000. TD Capital Management LLC purchased a new stake in Citigroup in the 4th quarter worth about $28,000. Finally, IMG Wealth Management Inc. raised its stake in Citigroup by 197.6% in the 1st quarter. IMG Wealth Management Inc. now owns 244 shares of the company’s stock valued at $28,000 after acquiring an additional 162 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Performance

Shares of C opened at $132.77 on Friday. Citigroup Inc. has a 52-week low of $92.96 and a 52-week high of $147.96. The stock’s 50-day simple moving average is $136.20 and its 200 day simple moving average is $126.81. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $226.45 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 0.60 and a beta of 1.12.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.74 by $0.41. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The business had revenue of $24.77 billion during the quarter, compared to analyst estimates of $23.74 billion. During the same quarter in the previous year, the firm earned $1.96 EPS. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. Research analysts forecast that Citigroup Inc. will post 11.2 EPS for the current fiscal year.

Citigroup announced that its board has initiated a stock buyback program on Thursday, May 7th that permits the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 13.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 3rd were paid a dividend of $0.67 per share. This is an increase from Citigroup’s previous quarterly dividend of $0.60. This represents a $2.68 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Monday, August 3rd. Citigroup’s dividend payout ratio is presently 28.94%.

Analyst Ratings Changes

C has been the topic of several recent research reports. Truist Financial dropped their price objective on shares of Citigroup from $158.00 to $154.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. Zacks Research raised shares of Citigroup from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Wells Fargo & Company upped their price target on shares of Citigroup from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, June 18th. UBS Group cut their price objective on shares of Citigroup from $150.00 to $142.00 and set a “neutral” rating for the company in a report on Monday, August 3rd. Finally, Oppenheimer lowered shares of Citigroup from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.22.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup’s recent quarterly results provide a fundamental cushion: earnings and revenue exceeded analyst expectations, with revenue up 14.5% year over year. SEC Probe Puts Wall Street Leverage Risk Back in Focus
• Neutral Sentiment: Citi analyst activity on Oracle, BMW and Forvia reflects the bank’s research and advisory business, but the recommendations are directed at those companies and have little direct impact on Citigroup’s equity value. Oracle Stock Gains Premarket
• Neutral Sentiment: Citigroup entities reported exiting substantial-holder status in Australia’s IDP Education and Healius. These appear to be portfolio or position disclosures rather than changes to Citi’s core business, making the immediate stock impact limited. Citi Group Entities Exit Substantial Holder Status in IDP Education
• Negative Sentiment: The SEC reportedly subpoenaed Citigroup, Goldman Sachs, JPMorgan and Bank of America over margin lending to hedge fund Situational Awareness, which suffered a 67% drawdown during an AI-stock sell-off. The probe puts leverage, collateral and counterparty-risk controls under scrutiny; potential fines, litigation costs or tighter lending requirements could weigh on Citi’s profitability, although the ultimate exposure remains unclear. SEC Probe Puts Wall Street Leverage Risk Back in Focus

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.