Wealthcare Advisory Partners LLC Has $1.76 Million Stake in Citigroup Inc. $C

Wealthcare Advisory Partners LLC cut its holdings in shares of Citigroup Inc. (NYSE:C) by 27.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 12,568 shares of the company’s stock after selling 4,764 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Citigroup were worth $1,759,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of C. Whipplewood Advisors LLC bought a new position in Citigroup in the first quarter valued at approximately $25,000. Mcguire Capital Advisors Inc. acquired a new stake in shares of Citigroup in the 4th quarter valued at approximately $25,000. Richards Merrill & Peterson Inc. acquired a new stake in shares of Citigroup in the 4th quarter valued at approximately $28,000. TD Capital Management LLC bought a new position in shares of Citigroup in the fourth quarter valued at $28,000. Finally, IMG Wealth Management Inc. grew its stake in shares of Citigroup by 197.6% in the first quarter. IMG Wealth Management Inc. now owns 244 shares of the company’s stock valued at $28,000 after buying an additional 162 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

NYSE C opened at $138.74 on Friday. The firm has a 50-day moving average of $137.25 and a 200-day moving average of $125.52. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market cap of $236.64 billion, a PE ratio of 14.98, a P/E/G ratio of 0.62 and a beta of 1.12. Citigroup Inc. has a 52-week low of $90.68 and a 52-week high of $147.96.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, July 14th. The company reported $3.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.74 by $0.41. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The company had revenue of $24.77 billion during the quarter, compared to analysts’ expectations of $23.74 billion. During the same quarter in the previous year, the company posted $1.96 earnings per share. The business’s revenue was up 14.5% on a year-over-year basis. On average, sell-side analysts anticipate that Citigroup Inc. will post 11.2 EPS for the current year.

Citigroup announced that its board has authorized a share buyback program 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 programs are typically a sign that the company’s board believes its shares are undervalued.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 3rd will be paid a $0.67 dividend. This is a boost from Citigroup’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, August 3rd. This represents a $2.68 annualized dividend and a yield of 1.9%. Citigroup’s dividend payout ratio is presently 28.94%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citigroup in a research report on Friday, July 17th. Wells Fargo & Company boosted 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. Oppenheimer cut shares of Citigroup from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 30th. UBS Group cut their target price on shares of Citigroup from $150.00 to $142.00 and set a “neutral” rating for the company in a research note on Monday, August 3rd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $150.00 price target on shares of Citigroup in a report on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $145.22.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: New $380 billion Aegon mandate: Citi Investor Services won a full middle-office mandate from Aegon Asset Management, expanding an existing 20-year relationship. The contract adds to Citi’s custody, fund administration and related fee-generating services and strengthens its securities-services franchise. Citi Investor Services Wins US$380 Billion Middle Office Mandate from Aegon Asset Management
• Positive Sentiment: Kard acquisition expands consumer-card monetization: Citi’s U.S. Consumer Cards business agreed to acquire Kard Financial, a commerce-media and rewards platform. The deal is intended to improve personalized merchant offers, customer engagement and potential fee opportunities across Citi’s large card transaction base. Citi Expands Customer Engagement and Commerce Media Capabilities With Addition of Kard
• Positive Sentiment: Strong Asia ADR pipeline: Citi reportedly sees robust demand for American depositary receipts in Asia, particularly as technology companies seek funding. A stronger pipeline could support investment-banking fees and reinforce Citi’s international franchise. Citigroup Sees Robust ADR Pipeline in Asia on Tech Funding Drive
• Neutral Sentiment: Macro outlook remains important: CEO Jane Fraser discussed cooler inflation, the Federal Reserve’s rate path, corporate dealmaking regulation and AI investment. These factors could affect net interest income, credit conditions and investment-banking activity, but the remarks did not provide a clear near-term earnings change. This is the big UNKNOWN: Citigroup CEO analyzes US economy
• Neutral Sentiment: Funding activity under review: Recent fixed-income offerings provide investors with additional information about Citi’s funding mix and borrowing costs. The offerings may support liquidity, although higher funding expenses remain a consideration. Is Citigroup (C) Undervalued After Its Latest Bond Offerings?

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.