Citigroup Inc. $C Position Decreased by Family Manage LLC

Family Manage LLC lowered its holdings in Citigroup Inc. (NYSE:C) by 60.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,646 shares of the company’s stock after selling 58,488 shares during the period. Family Manage LLC’s holdings in Citigroup were worth $4,269,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Gateway Wealth Partners LLC bought a new stake in shares of Citigroup during the 1st quarter worth $550,000. Cypress Capital Group raised its position in shares of Citigroup by 29.5% during the first quarter. Cypress Capital Group now owns 4,545 shares of the company’s stock worth $515,000 after purchasing an additional 1,036 shares during the period. Everest Financial Group LLC raised its position in shares of Citigroup by 36.7% during the first quarter. Everest Financial Group LLC now owns 8,720 shares of the company’s stock worth $989,000 after purchasing an additional 2,340 shares during the period. OMERS ADMINISTRATION Corp lifted its holdings in shares of Citigroup by 24.2% during the first quarter. OMERS ADMINISTRATION Corp now owns 148,763 shares of the company’s stock valued at $16,871,000 after purchasing an additional 28,939 shares during the last quarter. Finally, FreeGulliver LLC acquired a new position in shares of Citigroup in the 1st quarter valued at $214,000. 71.72% of the stock is currently owned by institutional investors.

Citigroup Trading Down 0.2%

Shares of NYSE C opened at $131.95 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71. Citigroup Inc. has a one year low of $87.94 and a one year high of $147.96. The business has a 50-day moving average price of $135.01 and a two-hundred day moving average price of $123.83. The firm has a market capitalization of $225.06 billion, a PE ratio of 14.25, a PEG ratio of 0.60 and a beta of 1.11.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, July 14th. The company reported $3.15 EPS for the quarter, beating the consensus estimate of $2.74 by $0.41. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The business had revenue of $24.75 billion for the quarter, compared to analysts’ expectations of $23.74 billion. During the same period in the previous year, the company posted $1.96 EPS. Citigroup’s revenue was up 14.5% on a year-over-year basis. As a group, analysts predict that Citigroup Inc. will post 11.2 earnings per share for the current fiscal year.

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

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, August 3rd will be paid a $0.67 dividend. The ex-dividend date is Monday, August 3rd. This is a positive change from Citigroup’s previous quarterly dividend of $0.60. This represents a $2.68 annualized dividend and a dividend yield of 2.0%. Citigroup’s dividend payout ratio is 25.92%.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi analysts said the recent pullback in semiconductor stocks looks like a buying opportunity, which may support broader risk appetite and help sentiment around markets that Citigroup covers through its trading and research franchises. Pullback in chip stocks is a buying opportunity, Citi says
• Positive Sentiment: Citigroup was highlighted in a new CMBS deal update, after pricing an $817 million multifamily conduit transaction, reinforcing Citi’s role as an active lender and securitization player in U.S. commercial real estate. Citigroup (C) Sets Post GFC Record With $817 Million Multifamily CMBS Deal
• Neutral Sentiment: Citigroup reportedly closed a bullish South African rand trade after the currency looked “fragile” following South Africa’s surprise rate hold. This is more of a trading update than a major earnings driver, but it shows Citi is actively adjusting macro positions. Citi Drops Rand Bet After South Africa’s Surprise Rate Hold
• Neutral Sentiment: Separately, a headline noting Citi’s bearish view on the “Magnificent Seven” may reflect the bank’s broader market outlook, but it does not directly change Citigroup’s fundamentals. Wall Street Bank Just Declared the Magnificent 7 as “Dead” — What Happens Next?

Insider Transactions at Citigroup

In other news, Director John Cunningham Dugan sold 2,117 shares of Citigroup stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $125.30, for a total transaction of $265,260.10. Following the sale, the director owned 12,194 shares of the company’s stock, valued at approximately $1,527,908.20. This trade represents a 14.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Citigroup in a research note on Friday, July 17th. The Goldman Sachs Group upped their price objective on shares of Citigroup from $137.00 to $151.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Keefe, Bruyette & Woods raised their target price on shares of Citigroup from $140.00 to $153.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Oppenheimer downgraded shares of Citigroup from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Finally, Barclays boosted their price target on shares of Citigroup from $146.00 to $154.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Two 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 stock. According to data from MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and an average target price of $145.67.

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.