Revolve Wealth Partners LLC Boosts Stake in Citigroup Inc. $C

Revolve Wealth Partners LLC boosted its position in Citigroup Inc. (NYSE:C) by 246.7% in the 2nd quarter, Holdings Channel reports. The firm owned 8,790 shares of the company’s stock after buying an additional 6,255 shares during the quarter. Revolve Wealth Partners LLC’s holdings in Citigroup were worth $1,230,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Norges Bank purchased a new stake in shares of Citigroup in the fourth quarter worth approximately $2,800,944,000. Vanguard Group Inc. boosted its holdings in Citigroup by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company’s stock valued at $19,048,467,000 after acquiring an additional 4,938,923 shares during the period. Eurizon Capital SGR S.p.A. purchased a new position in Citigroup during the 4th quarter valued at $298,082,000. SEB Asset Management AB bought a new position in Citigroup in the 1st quarter valued at $252,972,000. Finally, Deutsche Bank AG increased its stake in Citigroup by 28.4% in the fourth quarter. Deutsche Bank AG now owns 7,158,142 shares of the company’s stock worth $835,284,000 after purchasing an additional 1,582,150 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on C. UBS Group decreased their target price on Citigroup from $150.00 to $142.00 and set a “neutral” rating for the company in a research report on Monday, August 3rd. Oppenheimer cut shares of Citigroup from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 30th. Barclays raised their price target on shares of Citigroup from $146.00 to $154.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Wells Fargo & Company boosted their price objective on shares of Citigroup from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, June 18th. Finally, Truist Financial dropped their target price on shares of Citigroup from $158.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $145.22.

Citigroup Trading Up 0.1%

Shares of NYSE C opened at $135.15 on Tuesday. Citigroup Inc. has a 1-year low of $90.68 and a 1-year high of $147.96. The business has a fifty day moving average price of $136.93 and a 200 day moving average price of $125.03. The stock has a market capitalization of $230.51 billion, a P/E ratio of 14.60, a price-to-earnings-growth ratio of 0.61 and a beta of 1.12. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.99 and a quick ratio of 0.99.

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

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 $0.67 dividend. The ex-dividend date is Monday, August 3rd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.0%. This is an increase from Citigroup’s previous quarterly dividend of $0.60. Citigroup’s dividend payout ratio (DPR) is 28.94%.

Citigroup announced that its board has approved a share buyback plan on Thursday, May 7th that permits the company to buyback $30.00 billion in shares. This buyback authorization permits the company to reacquire up to 13.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Key Stories Impacting 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

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.