Oak Grove Capital LLC Makes New Investment in Citigroup Inc. $C

Oak Grove Capital LLC bought a new stake in Citigroup Inc. (NYSE:C) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,000 shares of the company’s stock, valued at approximately $518,000.

A number of other hedge funds have also recently made changes to their positions in C. Paladin Partners LLC bought a new stake in Citigroup in the second quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. bought a new position in Citigroup during the 2nd quarter worth approximately $29,000. Whipplewood Advisors LLC acquired a new position in shares of Citigroup in the 1st quarter worth approximately $25,000. TD Capital Management LLC acquired a new position in shares of Citigroup in the 4th quarter worth approximately $28,000. Finally, IMG Wealth Management Inc. boosted its stake in shares of Citigroup by 197.6% in the 1st quarter. IMG Wealth Management Inc. now owns 244 shares of the company’s stock valued at $28,000 after purchasing an additional 162 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Positive pre-earnings outlook: Analysts expect third-quarter results to benefit from stronger net interest income and market revenues, while cost controls and shareholder returns remain key areas to watch. Citigroup stock ahead of Q3 earnings
• Positive Sentiment: New buy rating and upside target: TD Cowen initiated coverage of Citigroup with a “buy” rating and a $150 price target, implying meaningful upside from recent trading levels and reinforcing the view that Citi’s valuation could improve as its transformation progresses. TD Cowen coverage report
• Positive Sentiment: Private-bank expansion: Citi is adding regional leadership under former Bank of America executive Chris Biotti and targeting approximately $3 trillion in untapped North American client assets. Successful execution could strengthen fee income and help Citi compete more effectively in wealth management. Citi private bank expansion
• Positive Sentiment: AI and efficiency initiatives: Citi is shortening its investment-banking analyst program to two years while deploying AI tools to automate repetitive work. Management expects faster promotion paths and a more efficient talent model, although benefits will depend on implementation. Citigroup investment banking analyst program
• Neutral Sentiment: Valuation debate: Citi’s strong multi-year share-price performance has prompted questions about whether its returns on capital and profitability justify further gains. Optimists argue the bank could rerate closer to peers, while investors may demand more evidence from upcoming results. Citigroup valuation analysis
• Negative Sentiment: Mixed analyst signals and macro risks: UBS lowered its Citigroup price target to $139, and sharply rising bond yields could pressure bank valuations, funding costs and credit conditions ahead of earnings. UBS cuts Citigroup price target

Citigroup Price Performance

Shares of NYSE:C opened at $129.61 on Friday. Citigroup Inc. has a twelve month low of $93.66 and a twelve month high of $147.96. The stock’s 50 day moving average is $133.74 and its 200-day moving average is $131.30. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.71. The firm has a market capitalization of $221.06 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 0.57 and a beta of 1.13.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, July 14th. The company reported $3.15 EPS for the quarter, topping the consensus estimate of $2.74 by $0.41. The firm had revenue of $24.77 billion for the quarter, compared to analysts’ expectations of $23.74 billion. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.96 EPS. Sell-side analysts forecast that Citigroup Inc. will post 11.19 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 3rd were paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Monday, August 3rd. This is a positive change from Citigroup’s previous quarterly dividend of $0.60. Citigroup’s dividend payout ratio is presently 28.94%.

Analyst Ratings Changes

C has been the subject of a number of analyst reports. Royal Bank Of Canada reissued an “outperform” rating and set a $150.00 target price on shares of Citigroup in a research note on Wednesday, July 15th. Weiss Ratings cut shares of Citigroup from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 2nd. Wells Fargo & Company increased their price target on Citigroup from $162.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, June 18th. Zacks Research lowered Citigroup from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 14th. Finally, UBS Group dropped their price objective on Citigroup from $142.00 to $139.00 and set a “neutral” rating on the stock in a research note on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $151.28.

About Citigroup

Citigroup Inc is a global financial services company headquartered in New York City and listed on the New York Stock Exchange under the symbol C. Through its subsidiaries and businesses, Citi provides banking, lending, investment, payments, wealth management and other financial services to consumers, businesses, governments and institutional clients.

Citi’s principal businesses include Services, which supports institutional clients with treasury, trade, securities services and related solutions; Markets, which provides sales, trading, research and financing services; Banking, which offers investment banking and corporate banking; and Wealth, which provides private banking and wealth management.