Citigroup Inc. $C Stock Holdings Cut by Sanctuary Advisors LLC

Sanctuary Advisors LLC lessened its position in Citigroup Inc. (NYSE:C) by 6.6% during the second quarter, Holdings Channel reports. The institutional investor owned 237,262 shares of the company’s stock after selling 16,682 shares during the quarter. Sanctuary Advisors LLC’s holdings in Citigroup were worth $33,207,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Whipplewood Advisors LLC acquired a new position in Citigroup during the first quarter worth about $25,000. Mcguire Capital Advisors Inc. acquired a new stake in Citigroup in the 4th quarter valued at about $25,000. Paladin Partners LLC bought a new position in shares of Citigroup during the 2nd quarter valued at about $27,000. TD Capital Management LLC bought a new position in shares of Citigroup during the 4th quarter valued at about $28,000. Finally, IMG Wealth Management Inc. grew its stake in shares of Citigroup by 197.6% in the 1st quarter. IMG Wealth Management Inc. now owns 244 shares of the company’s stock worth $28,000 after purchasing an additional 162 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Anthropic IPO role could boost fee revenue and deal visibility. Citigroup is reportedly being added to the group of leading banks guiding Anthropic toward a potential initial public offering. A role on a large, prominent AI-company listing could generate underwriting fees and strengthen Citi’s capital-markets franchise. Anthropic adds Citigroup to top banks guiding its IPO
• Positive Sentiment: Citigroup received strong growth-oriented stock-market recognition. A recent ranking identified Citigroup and Goldman Sachs among financial giants receiving “buy” growth grades, reinforcing the view that Citi’s earnings and business outlook compare favorably with peers. Citigroup and Goldman Sachs lead as most financial giants earn buy growth grades
• Neutral Sentiment: Citi remains constructive on broader equity markets. The bank maintained an overweight view on equities and said it would use any weakness before the U.S. midterm elections to add exposure. This may support confidence in Citi’s research and client-facing businesses, although it does not directly change the company’s earnings outlook. S&P 500 may pull back before midterms, but Citi says buy the dip
• Negative Sentiment: Credit-quality concerns remain a risk. Citigroup’s July card delinquencies edged higher, although lower charge-offs provided some offsetting relief. Investors may continue monitoring consumer credit trends for signs of pressure on asset quality and loan-loss provisions. C’s July Card Delinquencies Tick Up

Wall Street Analysts Forecast Growth

A number of research firms recently commented on C. Bank of America boosted their target price on shares of Citigroup from $170.00 to $176.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Oppenheimer lowered shares of Citigroup from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $150.00 price target on shares of Citigroup in a report on Wednesday, July 15th. Wall Street Zen downgraded Citigroup from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Truist Financial reduced their price objective on Citigroup from $158.00 to $154.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $145.22.

Citigroup Stock Performance

Shares of C opened at $131.46 on Monday. The company has a 50-day moving average of $137.20 and a two-hundred day moving average of $126.36. The stock has a market cap of $224.22 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 0.59 and a beta of 1.12. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.99 and a quick ratio of 0.99. Citigroup Inc. has a one year low of $92.84 and a one year high of $147.96.

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

Citigroup Increases Dividend

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

Citigroup announced that its Board of Directors has initiated a stock repurchase program on Thursday, May 7th that allows the company to repurchase $30.00 billion in shares. This repurchase authorization allows the company to purchase up to 13.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

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.