Weiss Asset Management LP Has $7.29 Million Stock Position in Citigroup Inc. $C

Weiss Asset Management LP trimmed its position in shares of Citigroup Inc. (NYSE:C) by 32.6% during the first quarter, Holdings Channel.com reports. The institutional investor owned 64,260 shares of the company’s stock after selling 31,059 shares during the period. Weiss Asset Management LP’s holdings in Citigroup were worth $7,288,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cypress Capital Group raised its holdings in Citigroup by 29.5% in the 1st quarter. Cypress Capital Group now owns 4,545 shares of the company’s stock valued at $515,000 after acquiring an additional 1,036 shares during the period. Everest Financial Group LLC lifted its holdings in shares of Citigroup by 36.7% during the first quarter. Everest Financial Group LLC now owns 8,720 shares of the company’s stock worth $989,000 after buying an additional 2,340 shares in the last quarter. OMERS ADMINISTRATION Corp boosted its position in shares of Citigroup by 24.2% in the first quarter. OMERS ADMINISTRATION Corp now owns 148,763 shares of the company’s stock valued at $16,871,000 after acquiring an additional 28,939 shares during the period. FreeGulliver LLC acquired a new position in shares of Citigroup in the first quarter valued at about $214,000. Finally, Themes Management Co LLC grew its stake in shares of Citigroup by 5.5% in the first quarter. Themes Management Co LLC now owns 8,685 shares of the company’s stock valued at $985,000 after acquiring an additional 453 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Insider Activity

In related news, Director John Cunningham Dugan sold 2,117 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $125.30, for a total transaction of $265,260.10. Following the sale, the director owned 12,194 shares in the company, valued at approximately $1,527,908.20. This trade represents a 14.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.11% of the company’s stock.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi analysts said the recent pullback in semiconductor stocks looks like a buying opportunity, which may support broader risk appetite and help sentiment around markets that Citigroup covers through its trading and research franchises. Pullback in chip stocks is a buying opportunity, Citi says
• Positive Sentiment: Citigroup was highlighted in a new CMBS deal update, after pricing an $817 million multifamily conduit transaction, reinforcing Citi’s role as an active lender and securitization player in U.S. commercial real estate. Citigroup (C) Sets Post GFC Record With $817 Million Multifamily CMBS Deal
• Neutral Sentiment: Citigroup reportedly closed a bullish South African rand trade after the currency looked “fragile” following South Africa’s surprise rate hold. This is more of a trading update than a major earnings driver, but it shows Citi is actively adjusting macro positions. Citi Drops Rand Bet After South Africa’s Surprise Rate Hold
• Neutral Sentiment: Separately, a headline noting Citi’s bearish view on the “Magnificent Seven” may reflect the bank’s broader market outlook, but it does not directly change Citigroup’s fundamentals. Wall Street Bank Just Declared the Magnificent 7 as “Dead” — What Happens Next?

Citigroup Stock Up 0.1%

C stock opened at $131.95 on Friday. The company has a market cap of $225.06 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 0.60 and a beta of 1.11. The business has a 50-day simple moving average of $135.01 and a 200 day simple moving average of $123.82. Citigroup Inc. has a 52 week low of $87.94 and a 52 week high of $147.96. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.71.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, July 14th. The company reported $3.15 earnings per share 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 $24.75 billion during the quarter, compared to analysts’ expectations of $23.74 billion. During the same quarter in the prior year, the business posted $1.96 earnings per share. Citigroup’s revenue was up 14.5% compared to the same quarter last year. Sell-side analysts anticipate that Citigroup Inc. will post 11.2 EPS for the current fiscal year.

Citigroup announced that its Board of Directors has authorized a share buyback plan on Thursday, May 7th that allows the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 13.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, August 3rd will be issued a dividend of $0.67 per share. This is a boost 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 dividend on an annualized basis and a dividend yield of 2.0%. Citigroup’s payout ratio is currently 25.92%.

Analyst Upgrades and Downgrades

C has been the subject of several analyst reports. Zacks Research upgraded shares of Citigroup from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Bank of America increased their target price on shares of Citigroup from $170.00 to $176.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. raised their target price on shares of Citigroup from $135.50 to $149.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Argus set a $150.00 price target on shares of Citigroup in a research report on Wednesday, July 15th. Finally, Truist Financial cut their price target on Citigroup from $158.00 to $154.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Two 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’s stock. Based on data from MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and an average target price of $145.67.

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.