KMG Fiduciary Partners LLC Has $2.55 Million Stock Holdings in Citigroup Inc. $C

KMG Fiduciary Partners LLC boosted its stake in Citigroup Inc. (NYSE:C) by 50.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,204 shares of the company’s stock after buying an additional 6,071 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Citigroup were worth $2,548,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Brighton Jones LLC grew its stake in Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after purchasing an additional 12,499 shares in the last quarter. Sivia Capital Partners LLC raised its stake in shares of Citigroup by 20.5% during the 2nd 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 in the last quarter. United Bank acquired a new stake in shares of Citigroup during the 2nd quarter valued at about $972,000. Osterweis Capital Management Inc. lifted its holdings in shares of 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 buying an additional 905 shares during the last quarter. Finally, HUB Investment Partners LLC grew its stake in shares of Citigroup by 26.9% in the 2nd quarter. HUB Investment Partners LLC now owns 15,287 shares of the company’s stock valued at $1,301,000 after buying an additional 3,238 shares in the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Performance

NYSE:C opened at $135.15 on Tuesday. The firm has a market capitalization of $230.51 billion, a PE ratio of 14.60, a PEG ratio of 0.61 and a beta of 1.12. Citigroup Inc. has a 1 year low of $90.68 and a 1 year high of $147.96. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71. The firm’s fifty day simple moving average is $136.93 and its 200 day simple moving average is $125.03.

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 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 quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.96 earnings per share. On average, sell-side analysts anticipate that Citigroup Inc. will post 11.2 EPS for the current year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 3rd will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $2.68 annualized dividend and a dividend yield of 2.0%. This is a boost from Citigroup’s previous quarterly dividend of $0.60. Citigroup’s payout ratio is presently 28.94%.

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

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup appointed Jean-Baptiste Charlet, previously Morgan Stanley’s head of France, to lead its French operations. The hire may strengthen Citi’s investment-banking and commercial-banking presence in a key European market, although the near-term financial impact is likely limited. Citigroup poaches Charlet from Morgan Stanley to head French arm
• Neutral Sentiment: Citigroup-related entities exited substantial-holder status in Vulcan Energy Resources. This appears to be a portfolio or ownership disclosure rather than a change to Citi’s core operations, and it is unlikely to have a meaningful effect on C shares. Citigroup Group Entities Exit Substantial Holder Status in Vulcan Energy Resources
• Neutral Sentiment: A Citigroup analyst lowered the price target on Micron Technology while retaining a Buy rating, citing slowing memory-price growth and Chinese capacity risks. The report affects Micron directly, but has no immediate earnings implication for Citigroup beyond its role as the research provider. Micron’s Memory Boom Is Heading For A Peak, Analyst Warns

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Truist Financial dropped their price objective on Citigroup from $158.00 to $154.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. Barclays boosted their target price on shares of Citigroup from $146.00 to $154.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Zacks Research upgraded shares of Citigroup from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Piper Sandler restated an “overweight” rating and set a $145.00 price target (up from $125.00) on shares of Citigroup in a report on Wednesday, April 15th. Finally, Argus set a $150.00 price objective on shares of Citigroup 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $145.22.

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.