Gamco Investors INC. ET AL Has $7.22 Million Stake in Citigroup Inc. $C

Gamco Investors INC. ET AL trimmed its holdings in shares of Citigroup Inc. (NYSE:C) by 7.8% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 51,590 shares of the company’s stock after selling 4,344 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Citigroup were worth $7,221,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Paladin Partners LLC acquired a new stake in shares of Citigroup during the second quarter worth $27,000. Mcguire Capital Advisors Inc. bought a new position in Citigroup during the 4th quarter worth about $25,000. Whipplewood Advisors LLC acquired a new stake in shares of Citigroup in the 1st quarter valued at about $25,000. TD Capital Management LLC bought a new stake in shares of Citigroup in the fourth quarter valued at about $28,000. Finally, IMG Wealth Management Inc. boosted its position in shares of Citigroup by 197.6% during the first quarter. IMG Wealth Management Inc. now owns 244 shares of the company’s stock worth $28,000 after buying an additional 162 shares during the period. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

NYSE:C opened at $131.46 on Friday. The stock has a 50 day simple moving average of $137.20 and a 200 day simple moving average of $126.29. The stock has a market cap of $224.22 billion, a P/E ratio of 14.20, a PEG ratio of 0.59 and a beta of 1.12. Citigroup Inc. has a 1-year low of $92.84 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.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, July 14th. The company reported $3.15 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.41. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The business had revenue of $24.77 billion for the quarter, compared to analyst estimates of $23.74 billion. During the same period last year, the firm earned $1.96 earnings per share. Citigroup’s revenue for the quarter was up 14.5% compared to the same quarter last year. Research analysts anticipate that Citigroup Inc. will post 11.2 earnings per share for the current year.

Citigroup announced that its board has authorized a stock repurchase program on Thursday, May 7th that allows the company to buyback $30.00 billion in shares. This buyback authorization allows the company to repurchase up to 13.7% of its stock through open market purchases. Stock buyback programs are typically a sign 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. Investors of record on Monday, August 3rd will be given a dividend of $0.67 per share. This is a positive change from Citigroup’s previous quarterly dividend of $0.60. This represents a $2.68 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, August 3rd. Citigroup’s dividend payout ratio (DPR) is currently 28.94%.

Wall Street Analyst Weigh In

C has been the topic of a number of recent research reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $150.00 price objective on shares of Citigroup in a report on Wednesday, July 15th. Evercore set a $143.00 price target on shares of Citigroup in a research note on Monday, July 6th. Argus set a $150.00 price objective on shares of Citigroup in a research note on Wednesday, July 15th. Wells Fargo & Company increased their price objective on shares of Citigroup from $162.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, June 18th. Finally, Zacks Research raised Citigroup from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $145.22.

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Anthropic IPO role could boost fee revenue and deal visibility. Citigroup is reportedly being added to the group of leading banks guiding Anthropic toward a potential initial public offering. A role on a large, prominent AI-company listing could generate underwriting fees and strengthen Citi’s capital-markets franchise. Anthropic adds Citigroup to top banks guiding its IPO
• Positive Sentiment: Citigroup received strong growth-oriented stock-market recognition. A recent ranking identified Citigroup and Goldman Sachs among financial giants receiving “buy” growth grades, reinforcing the view that Citi’s earnings and business outlook compare favorably with peers. Citigroup and Goldman Sachs lead as most financial giants earn buy growth grades
• Neutral Sentiment: Citi remains constructive on broader equity markets. The bank maintained an overweight view on equities and said it would use any weakness before the U.S. midterm elections to add exposure. This may support confidence in Citi’s research and client-facing businesses, although it does not directly change the company’s earnings outlook. S&P 500 may pull back before midterms, but Citi says buy the dip
• Negative Sentiment: Credit-quality concerns remain a risk. Citigroup’s July card delinquencies edged higher, although lower charge-offs provided some offsetting relief. Investors may continue monitoring consumer credit trends for signs of pressure on asset quality and loan-loss provisions. C’s July Card Delinquencies Tick Up

Citigroup 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.