Myriad Asset Management US LP Takes $1.66 Million Position in Citigroup Inc. $C

Myriad Asset Management US LP bought a new position in shares of Citigroup Inc. (NYSE:C) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,394 shares of the company’s stock, valued at approximately $1,664,000. Citigroup comprises 0.9% of Myriad Asset Management US LP’s investment portfolio, making the stock its 25th biggest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its holdings in shares of Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after acquiring an additional 12,499 shares during the period. Sivia Capital Partners LLC raised its stake in shares of Citigroup by 20.5% during the second quarter. Sivia Capital Partners LLC now owns 9,805 shares of the company’s stock worth $835,000 after purchasing an additional 1,669 shares during the last quarter. Sheets Smith Wealth Management acquired a new stake in shares of Citigroup during the second quarter worth $783,000. Mather Group LLC. raised its position in Citigroup by 15.6% during the 2nd quarter. Mather Group LLC. now owns 7,186 shares of the company’s stock worth $612,000 after buying an additional 968 shares during the last quarter. Finally, TD Private Client Wealth LLC lifted its stake in shares of Citigroup by 3.9% in the 2nd quarter. TD Private Client Wealth LLC now owns 42,313 shares of the company’s stock worth $3,602,000 after acquiring an additional 1,570 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Analysts largely dismissed fears of a multiple re-rating after Citigroup’s stronger-than-expected Q4 update, arguing core results and progress on restructuring reduce downside risk for the stock. Analysts Dismiss Re-Rating Fears After Bright Citigroup (C) Earnings Update
• Positive Sentiment: Company messaging and coverage signal stabilizing core businesses and tangible progress on the 80% overhaul/streamlining plan, which supports medium-term margin improvement expectations. Citigroup (C) Signals Stabilizing Core Businesses and Progress on Strategic Streamlining
• Positive Sentiment: Zacks added Citigroup to its Rank #1 (Strong Buy) list today, a vote of analyst confidence that can attract momentum buyers and institutional interest. New Strong Buy Stocks for January 23rd
• Neutral Sentiment: Reports say JPMorgan and Citigroup are considering fixed-pay cuts for senior UK executives — a small-cost-control measure that is unlikely to move U.S. earnings materially but signals ongoing expense management. JPMorgan and Citigroup consider fixed pay cuts for senior UK executives
• Negative Sentiment: Exclusive Reuters report says Citigroup will lay off more employees in March after ~1,000 job cuts this month — a sign of deeper restructuring that may cut costs but also signals execution risk and short-term disruption. Exclusive: Citigroup to lay off more employees in March, sources say
• Negative Sentiment: Reports that Citi is exploring a 10% capped-rate credit-card product (to address political pressure) and CEO warnings that rate caps would restrict credit suggest potential margin compression and regulatory risk if a cap or voluntary product becomes widespread. Bank of America, Citigroup consider new credit cards with 10% rate, Bloomberg News reports
• Negative Sentiment: Citi research flagged risks from Japan bond-market turmoil (potential large Treasury selling), a macro shock that could widen funding costs and volatility—an indirect headwind for large banks. Japan Bond Turmoil Risks Up to $130 Billion Treasury Selling, Citi Says

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $121.00 price objective on shares of Citigroup in a report on Thursday, January 15th. Wells Fargo & Company set a $150.00 price target on Citigroup in a research note on Monday, January 5th. Wolfe Research reissued an “outperform” rating and issued a $141.00 price objective on shares of Citigroup in a research note on Wednesday, January 7th. JPMorgan Chase & Co. upgraded shares of Citigroup from a “neutral” rating to an “overweight” rating and raised their target price for the company from $107.00 to $124.00 in a report on Friday, December 12th. Finally, Oppenheimer upped their price target on shares of Citigroup from $141.00 to $144.00 and gave the company an “outperform” rating in a report on Thursday, January 15th. Fourteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and an average price target of $125.56.

Citigroup Stock Up 1.5%

Shares of Citigroup stock opened at $115.55 on Friday. The company has a market capitalization of $206.75 billion, a PE ratio of 16.58, a P/E/G ratio of 0.72 and a beta of 1.18. The business has a 50-day moving average of $111.77 and a 200-day moving average of $101.83. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.00 and a quick ratio of 0.99. Citigroup Inc. has a 1-year low of $55.51 and a 1-year high of $124.17.

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

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Monday, February 2nd will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, February 2nd. Citigroup’s dividend payout ratio is currently 34.43%.

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.