Quantinno Capital Management LP Has $169.84 Million Stake in Citigroup Inc. $C

Quantinno Capital Management LP boosted its position in shares of Citigroup Inc. (NYSE:C) by 30.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,497,577 shares of the company’s stock after purchasing an additional 351,849 shares during the period. Quantinno Capital Management LP’s holdings in Citigroup were worth $169,840,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in C. Mcguire Capital Advisors Inc. purchased a new position in shares of Citigroup during the fourth quarter valued at $25,000. Whipplewood Advisors LLC purchased a new stake in Citigroup in the 1st quarter worth about $25,000. Richards Merrill & Peterson Inc. purchased a new stake in Citigroup in the 4th quarter worth about $28,000. TD Capital Management LLC acquired a new stake in Citigroup during the 4th quarter worth about $28,000. Finally, Scarborough Advisors LLC acquired a new stake in Citigroup during the 1st quarter worth about $29,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Citigroup news, Director John Cunningham Dugan sold 2,117 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $125.30, for a total transaction of $265,260.10. Following the completion of the sale, the director directly owned 12,194 shares in the company, valued at $1,527,908.20. This represents a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on C shares. Keefe, Bruyette & Woods upped their target price on Citigroup from $140.00 to $153.00 and gave the company an “outperform” rating in a report on Friday, May 8th. UBS Group raised their price target on shares of Citigroup from $134.00 to $150.00 and gave the stock a “neutral” rating in a report on Tuesday, July 7th. Wells Fargo & Company boosted their price objective on shares of Citigroup from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, June 18th. Bank of America upped their price objective on shares of Citigroup from $170.00 to $176.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Finally, Zacks Research upgraded shares of Citigroup from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Two research 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $145.67.

Key Headlines Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup’s second-quarter performance remains the primary bullish catalyst. The bank reported record results, including $3.15 in earnings per share versus the $2.74 consensus estimate and $24.75 billion in revenue versus expectations of $23.74 billion. Revenue increased 14.5% year over year, supported by stronger net interest income and net income. Is Citigroup Stock Still a Buy After Its Blockbuster Q2 Performance?
• Positive Sentiment: Analysts and investors are focusing on Citigroup’s transformation plan, capital position, and potential for shareholder returns. The stock’s valuation is viewed as reasonable relative to its earnings prospects, with one analysis estimating it could be approximately 14% undervalued after the earnings-related decline. Citigroup Could Be 14% Undervalued After Its Q2 Earnings Drop
• Positive Sentiment: Broader bank-sector results are also supportive: Raymond James said most U.S. banks reporting second-quarter results exceeded earnings forecasts amid favorable revenue trends. This may reinforce confidence in Citigroup’s operating environment and financial-sector earnings momentum. Most US Banks Beat Earnings Forecasts Amid Favorable Revenue Trends
• Neutral Sentiment: Federal Reserve expectations remain a key swing factor. Citi strategists expect the Fed to hold rates and potentially deliver a dovish outcome, which could support market sentiment, although the outlook remains uncertain ahead of the policy meeting. FOMC Preview: Fed Likely to Hold Rates Despite Oil Spike
• Negative Sentiment: Renewed inflation concerns have increased the possibility of a more hawkish Federal Reserve, including a potential rate hike. Higher-for-longer rates could create volatility for bank stocks and complicate the outlook for loan demand, credit quality, and net interest income. Fed Faces Growing Pressure to Hike Rates as Price Risks Rebound

Citigroup Stock Performance

C opened at $133.03 on Tuesday. The company has a market cap of $226.88 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 0.60 and a beta of 1.11. The stock has a 50-day moving average of $135.23 and a 200-day moving average of $123.90. Citigroup Inc. has a 52-week low of $87.94 and a 52-week high of $147.96. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 0.99.

Citigroup (NYSE:C) last issued its quarterly earnings data 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. The business had revenue of $24.75 billion for the quarter, compared to the consensus estimate of $23.74 billion. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The firm’s revenue was up 14.5% compared to the same quarter last year. During the same period last year, the business earned $1.96 EPS. As a group, equities research analysts forecast that Citigroup Inc. will post 11.2 earnings per share for the current fiscal year.

Citigroup announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 7th that authorizes the company to repurchase $30.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 13.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Citigroup Increases Dividend

The company 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 dividend on an annualized basis and a dividend yield of 2.0%. Citigroup’s dividend payout ratio is presently 25.92%.

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.