Wealthcare Advisory Partners LLC Has $1.76 Million Position in Citigroup Inc. $C

Wealthcare Advisory Partners LLC lessened its position in Citigroup Inc. (NYSE:C) by 27.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,568 shares of the company’s stock after selling 4,764 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Citigroup were worth $1,759,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC increased its holdings in shares of Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after buying an additional 12,499 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Citigroup by 20.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 9,805 shares of the company’s stock worth $835,000 after acquiring an additional 1,669 shares in the last quarter. United Bank bought a new stake in Citigroup during the 2nd quarter worth approximately $972,000. Osterweis Capital Management Inc. increased its holdings in Citigroup by 3,016.7% during the 2nd quarter. Osterweis Capital Management Inc. now owns 935 shares of the company’s stock valued at $80,000 after purchasing an additional 905 shares in the last quarter. Finally, HUB Investment Partners LLC increased its holdings in Citigroup by 26.9% during the 2nd quarter. HUB Investment Partners LLC now owns 15,287 shares of the company’s stock valued at $1,301,000 after purchasing an additional 3,238 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Up 0.8%

Shares of NYSE:C opened at $138.74 on Friday. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market cap of $236.64 billion, a price-to-earnings ratio of 14.98, a P/E/G ratio of 0.62 and a beta of 1.12. The company has a 50 day moving average of $137.25 and a 200-day moving average of $125.52. Citigroup Inc. has a one year low of $90.68 and a one year high of $147.96.

Citigroup (NYSE:C) last issued its 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. The company had revenue of $24.77 billion during the quarter, compared to analysts’ expectations of $23.74 billion. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.96 EPS. On average, sell-side analysts forecast that Citigroup Inc. will post 11.2 earnings per share for the current year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 3rd will be issued a dividend of $0.67 per share. This is an increase from Citigroup’s previous quarterly dividend of $0.60. This represents a $2.68 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, August 3rd. Citigroup’s dividend payout ratio 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 stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have commented on C shares. Morgan Stanley boosted their price objective on Citigroup from $154.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citigroup in a report on Friday, July 17th. JPMorgan Chase & Co. upped their price target on shares of Citigroup from $135.50 to $149.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Royal Bank Of Canada reissued an “outperform” rating and set a $150.00 price objective on shares of Citigroup in a report on Wednesday, July 15th. Finally, Wells Fargo & Company raised 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. Two research 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $145.22.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: New $380 billion Aegon mandate: Citi Investor Services won a full middle-office mandate from Aegon Asset Management, expanding an existing 20-year relationship. The contract adds to Citi’s custody, fund administration and related fee-generating services and strengthens its securities-services franchise. Citi Investor Services Wins US$380 Billion Middle Office Mandate from Aegon Asset Management
• Positive Sentiment: Kard acquisition expands consumer-card monetization: Citi’s U.S. Consumer Cards business agreed to acquire Kard Financial, a commerce-media and rewards platform. The deal is intended to improve personalized merchant offers, customer engagement and potential fee opportunities across Citi’s large card transaction base. Citi Expands Customer Engagement and Commerce Media Capabilities With Addition of Kard
• Positive Sentiment: Strong Asia ADR pipeline: Citi reportedly sees robust demand for American depositary receipts in Asia, particularly as technology companies seek funding. A stronger pipeline could support investment-banking fees and reinforce Citi’s international franchise. Citigroup Sees Robust ADR Pipeline in Asia on Tech Funding Drive
• Neutral Sentiment: Macro outlook remains important: CEO Jane Fraser discussed cooler inflation, the Federal Reserve’s rate path, corporate dealmaking regulation and AI investment. These factors could affect net interest income, credit conditions and investment-banking activity, but the remarks did not provide a clear near-term earnings change. This is the big UNKNOWN: Citigroup CEO analyzes US economy
• Neutral Sentiment: Funding activity under review: Recent fixed-income offerings provide investors with additional information about Citi’s funding mix and borrowing costs. The offerings may support liquidity, although higher funding expenses remain a consideration. Is Citigroup (C) Undervalued After Its Latest Bond Offerings?

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.