Marvin & Palmer Associates Inc. Makes New $7.72 Million Investment in Citigroup Inc. $C

Marvin & Palmer Associates Inc. purchased a new position in shares of Citigroup Inc. (NYSE:C) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 76,280 shares of the company’s stock, valued at approximately $7,722,000. Citigroup makes up approximately 6.7% of Marvin & Palmer Associates Inc.’s investment portfolio, making the stock its 7th biggest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brookstone Capital Management grew its stake in Citigroup by 31.5% during the 3rd quarter. Brookstone Capital Management now owns 75,914 shares of the company’s stock worth $7,705,000 after purchasing an additional 18,176 shares in the last quarter. Permanent Capital Management LP acquired a new stake in Citigroup in the 3rd quarter valued at about $1,238,000. Donaldson Capital Management LLC purchased a new position in shares of Citigroup in the 3rd quarter valued at about $58,994,000. Penobscot Investment Management Company Inc. boosted its stake in shares of Citigroup by 61.5% in the 3rd quarter. Penobscot Investment Management Company Inc. now owns 57,033 shares of the company’s stock valued at $5,789,000 after buying an additional 21,720 shares during the period. Finally, Keystone Financial Services acquired a new position in shares of Citigroup during the second quarter worth about $216,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi participated in a strategic investment in Adaptive (alongside HSBC), signaling continued corporate focus on capital-markets technology and partnerships that could support fee and tech-led growth. Adaptive announces strategic investment from HSBC and Citi
• Positive Sentiment: Investor write-ups highlight Citigroup as an attractive dividend option, reinforcing income-focused demand for the stock among yield-seeking investors. Citigroup (C) Could Be a Great Choice
• Positive Sentiment: Market commentators and some strategists are flagging banks as buyable after recent sell-offs, which supports sector-level interest in large U.S. banks like Citi if volatility stabilizes. War selloffs are buying opportunities, history shows; Jyotivardhan Jaipuria backs banks, trims IT
• Neutral Sentiment: Citi’s institutional units have filed notices exiting substantial-holder status in a few smaller Australian names — routine portfolio/flow activity that can affect localized volumes but is unlikely to move Citi’s share price materially. Citigroup Group Ceases to Be Substantial Holder in Bapcor
• Negative Sentiment: Citigroup’s own market commentary has warned that stock-market volatility is set to continue amid the Middle East shock — a caution that can exacerbate risk-off flows out of banks and financials. Stock market volatility set to continue, warns Citi
• Negative Sentiment: Negative press and legal risk surfaced after a Citi banker filed a sexual-harassment suit criticizing the firm’s internal investigation unit; such reputational and legal headlines can pressure sentiment and prompt investor caution. Citi banker suing for sexual harassment slams firm’s investigation unit

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on C. Truist Financial upped their target price on shares of Citigroup from $123.00 to $129.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. The Goldman Sachs Group boosted their price target on shares of Citigroup from $113.00 to $127.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Royal Bank Of Canada reissued an “outperform” rating and issued a $121.00 price objective on shares of Citigroup in a research report on Thursday, January 15th. Oppenheimer raised their price objective on shares of Citigroup from $141.00 to $144.00 and gave the company an “outperform” rating in a report on Thursday, January 15th. Finally, Zacks Research cut shares of Citigroup from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.25.

Insider Activity at Citigroup

In related news, insider Cantu Ernesto Torres sold 43,173 shares of Citigroup stock in a transaction on Friday, February 13th. The shares were sold at an average price of $111.09, for a total transaction of $4,796,088.57. Following the sale, the insider directly owned 45,835 shares in the company, valued at $5,091,810.15. This trade represents a 48.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is owned by company insiders.

Citigroup Price Performance

C stock opened at $106.58 on Friday. The business has a 50 day moving average price of $115.67 and a 200 day moving average price of $106.69. The stock has a market cap of $186.44 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 0.68 and a beta of 1.17. Citigroup Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $125.16. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.63.

Citigroup (NYSE:C) last announced its quarterly earnings results on Wednesday, January 14th. The company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.65 by $0.16. Citigroup had a net margin of 8.50% and a return on equity of 8.28%. The company had revenue of $19.87 billion for the quarter, compared to analyst estimates of $20.99 billion. During the same period in the prior year, the firm posted $1.34 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 2nd were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, February 2nd. Citigroup’s dividend payout ratio (DPR) is 34.43%.

Citigroup Company 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.