OMERS ADMINISTRATION Corp Boosts Stake in Citigroup Inc. $C

OMERS ADMINISTRATION Corp lifted its position in Citigroup Inc. (NYSE:C) by 1,137.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,840,374 shares of the company’s stock after acquiring an additional 1,691,611 shares during the period. Citigroup accounts for about 1.5% of OMERS ADMINISTRATION Corp’s investment portfolio, making the stock its 15th largest holding. OMERS ADMINISTRATION Corp owned about 0.11% of Citigroup worth $257,579,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Paladin Partners LLC purchased a new stake in Citigroup in the second quarter worth $27,000. Mcguire Capital Advisors Inc. purchased a new position in Citigroup during the fourth quarter valued at $25,000. Whipplewood Advisors LLC purchased a new position in Citigroup during the first quarter valued at $25,000. TD Capital Management LLC bought a new stake in shares of Citigroup during the 4th quarter valued at $28,000. Finally, IMG Wealth Management Inc. grew its position in shares of Citigroup by 197.6% in the 1st 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. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Key Citigroup News

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

Analyst Ratings Changes

Several research analysts recently issued reports on C shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Citigroup in a research note on Friday, July 17th. Royal Bank Of Canada reissued an “outperform” rating and set a $150.00 price objective on shares of Citigroup in a research note on Wednesday, July 15th. Truist Financial cut their price objective on shares of Citigroup from $158.00 to $154.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. Argus set a $150.00 target price on shares of Citigroup in a research note on Wednesday, July 15th. Finally, Zacks Research raised shares of Citigroup from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $145.22.

Citigroup Trading Down 0.1%

Citigroup stock opened at $131.46 on Monday. Citigroup Inc. has a 12 month low of $92.84 and a 12 month high of $147.96. The company has a market capitalization of $224.22 billion, a price-to-earnings ratio of 14.20, a price-to-earnings-growth ratio of 0.59 and a beta of 1.12. The business’s fifty day simple moving average is $137.20 and its two-hundred day simple moving average is $126.36. 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 issued its quarterly earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share for the quarter, beating the consensus estimate of $2.74 by $0.41. The firm had revenue of $24.77 billion during 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 company’s revenue was up 14.5% on a year-over-year basis. During the same period last year, the company earned $1.96 earnings per share. As a group, equities analysts predict that Citigroup Inc. will post 11.2 earnings per share for the current fiscal 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 given a dividend of $0.67 per share. This is a positive change from Citigroup’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $2.68 annualized dividend and a yield of 2.0%. Citigroup’s payout ratio is currently 28.94%.

Citigroup declared that its Board of Directors has initiated a stock repurchase program on Thursday, May 7th that permits the company to repurchase $30.00 billion in shares. This repurchase authorization permits the company to purchase up to 13.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

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.