Citigroup Inc. $C is Marvin & Palmer Associates Inc.’s 4th Largest Position

Marvin & Palmer Associates Inc. boosted its holdings in shares of Citigroup Inc. (NYSE:C) by 136.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 78,786 shares of the company’s stock after acquiring an additional 45,496 shares during the period. Citigroup comprises 7.0% of Marvin & Palmer Associates Inc.’s portfolio, making the stock its 4th largest holding. Marvin & Palmer Associates Inc.’s holdings in Citigroup were worth $11,027,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of C. Truist Financial Corp boosted its stake in shares of Citigroup by 4.7% during the fourth quarter. Truist Financial Corp now owns 375,977 shares of the company’s stock valued at $43,873,000 after acquiring an additional 16,744 shares during the last quarter. UniSuper Management Pty Ltd raised its stake in Citigroup by 38.8% in the 4th quarter. UniSuper Management Pty Ltd now owns 1,306,851 shares of the company’s stock valued at $152,496,000 after purchasing an additional 365,041 shares during the last quarter. Brighton Jones LLC lifted its holdings in Citigroup by 166.9% in the 4th 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. Highland Capital Management LLC boosted its stake in shares of Citigroup by 6.2% during the 4th quarter. Highland Capital Management LLC now owns 217,753 shares of the company’s stock worth $25,410,000 after purchasing an additional 12,764 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Citigroup by 4.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,819,471 shares of the company’s stock worth $453,371,000 after purchasing an additional 145,610 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Trading Up 0.1%

NYSE C opened at $132.77 on Friday. The company has a market cap of $226.45 billion, a P/E ratio of 14.34, a P/E/G ratio of 0.60 and a beta of 1.12. Citigroup Inc. has a 12 month low of $92.96 and a 12 month high of $147.96. 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 company has a 50-day moving average of $136.20 and a 200-day moving average of $126.81.

Citigroup (NYSE:C) last released its earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $23.74 billion. During the same period last year, the company earned $1.96 earnings per share. The company’s quarterly revenue was up 14.5% on a year-over-year basis. As a group, equities analysts predict that Citigroup Inc. will post 11.21 earnings per share for the current year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 3rd were issued a $0.67 dividend. This is a boost from Citigroup’s previous quarterly dividend of $0.60. The ex-dividend date was Monday, August 3rd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.0%. Citigroup’s dividend payout ratio (DPR) is 28.94%.

Citigroup announced that its board has approved a share repurchase program on Thursday, May 7th that permits the company to buyback $30.00 billion in shares. This buyback authorization permits the company to purchase up to 13.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on C. Bank of America boosted their price objective on shares of Citigroup from $170.00 to $176.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Weiss Ratings upgraded shares of Citigroup from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, August 24th. Evercore set a $143.00 target price on shares of Citigroup in a research note on Monday, July 6th. Truist Financial cut their price target on Citigroup from $158.00 to $154.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. Finally, Zacks Research raised 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 issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Citigroup has a consensus rating of “Moderate Buy” and a consensus price target of $145.22.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup’s recent quarterly results provide a fundamental cushion: earnings and revenue exceeded analyst expectations, with revenue up 14.5% year over year. SEC Probe Puts Wall Street Leverage Risk Back in Focus
• Neutral Sentiment: Citi analyst activity on Oracle, BMW and Forvia reflects the bank’s research and advisory business, but the recommendations are directed at those companies and have little direct impact on Citigroup’s equity value. Oracle Stock Gains Premarket
• Neutral Sentiment: Citigroup entities reported exiting substantial-holder status in Australia’s IDP Education and Healius. These appear to be portfolio or position disclosures rather than changes to Citi’s core business, making the immediate stock impact limited. Citi Group Entities Exit Substantial Holder Status in IDP Education
• Negative Sentiment: The SEC reportedly subpoenaed Citigroup, Goldman Sachs, JPMorgan and Bank of America over margin lending to hedge fund Situational Awareness, which suffered a 67% drawdown during an AI-stock sell-off. The probe puts leverage, collateral and counterparty-risk controls under scrutiny; potential fines, litigation costs or tighter lending requirements could weigh on Citi’s profitability, although the ultimate exposure remains unclear. SEC Probe Puts Wall Street Leverage Risk Back in Focus

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.