Empirical Asset Management LLC lifted its stake in Citigroup Inc. (NYSE:C – Free Report) by 288.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,798 shares of the company’s stock after buying an additional 5,793 shares during the period. Empirical Asset Management LLC’s holdings in Citigroup were worth $1,091,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Truist Financial Corp raised its holdings in Citigroup by 4.7% during the 4th quarter. Truist Financial Corp now owns 375,977 shares of the company’s stock valued at $43,873,000 after buying an additional 16,744 shares during the last quarter. UniSuper Management Pty Ltd boosted its position in Citigroup by 38.8% during the 4th quarter. UniSuper Management Pty Ltd now owns 1,306,851 shares of the company’s stock valued at $152,496,000 after buying an additional 365,041 shares during the period. Brighton Jones LLC grew its holdings in Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after acquiring an additional 12,499 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Citigroup by 4.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,819,471 shares of the company’s stock valued at $453,371,000 after acquiring an additional 145,610 shares during the period. Finally, Highland Capital Management LLC increased its position in shares of Citigroup by 6.2% in the fourth quarter. Highland Capital Management LLC now owns 217,753 shares of the company’s stock valued at $25,410,000 after acquiring an additional 12,764 shares during the period. Institutional investors own 71.72% of the company’s stock.
Citigroup Price Performance
Shares of NYSE C opened at $137.66 on Wednesday. Citigroup Inc. has a fifty-two week low of $90.68 and a fifty-two week high of $147.96. The company has a 50 day simple moving average of $137.54 and a two-hundred day simple moving average of $126.02. The company has a market capitalization of $234.79 billion, a price-to-earnings ratio of 14.87, a P/E/G ratio of 0.63 and a beta of 1.12. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 0.99.
Citigroup declared that its Board of Directors has authorized a stock repurchase plan on Thursday, May 7th that authorizes the company to buyback $30.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 13.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Citigroup Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Monday, August 3rd will be paid a dividend of $0.67 per share. The ex-dividend date is Monday, August 3rd. This is a positive change from Citigroup’s previous quarterly dividend of $0.60. This represents a $2.68 dividend on an annualized basis and a yield of 1.9%. Citigroup’s dividend payout ratio (DPR) is presently 28.94%.
Citigroup News Roundup
Here are the key news stories impacting Citigroup this week:
- Positive Sentiment: Citigroup plans to launch institutional Bitcoin custody services later this year, allowing clients to hold digital and traditional assets under one framework. The offering could create new fee revenue, strengthen Citi’s institutional-asset franchise and help the bank compete with major Wall Street rivals in digital-asset infrastructure. Bitcoin Custody for Institutional Clients Is Coming to Citi Later This Year
- Positive Sentiment: Citi also introduced its Custody+ platform, featuring continuous settlement, artificial-intelligence tools and an in-house tokenization rail through Citi Token Services. The platform supports the bank’s strategy of modernizing custody and transaction services, although the immediate earnings contribution remains uncertain. Citigroup Rolls Out Custody+ Platform With Bitcoin Services and Continuous Settlement
- Neutral Sentiment: Citi’s research team said prediction markets point toward a divided U.S. government after the midterm elections and outlined potential trading implications. The analysis may influence views on regulation, fiscal policy and bank-sector conditions, but it does not represent a direct change to Citigroup’s fundamentals. Prediction Markets See a Divided Government After Midterm Elections
- Negative Sentiment: Citigroup and five other banks agreed to an $86.4 million settlement resolving allegations of manipulation in Mexico’s bond market. Citi’s share of the payment was not specified, but the resolution creates a modest cost and reinforces regulatory and litigation risks for the bank. Major US Banks Agree to $86.4M Settlement in Mexican Bond-Rigging Case
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on C. Wall Street Zen lowered shares of Citigroup from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Wells Fargo & Company upped their price target on Citigroup from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, June 18th. Evercore set a $143.00 price objective on Citigroup in a report on Monday, July 6th. Zacks Research upgraded Citigroup from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $145.22.
View Our Latest Research Report on Citigroup
About Citigroup
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.
Featured Stories
- Five stocks we like better than Citigroup
- The AI Boom Is Turning This Cable Maker Into a Stock to Watch
- A Star Investor Just Trimmed Amazon—Here’s What It means
- Wendy’s Deal Buzz May Give Fast-Food Investors a New Reason to Look
- Home Depot Analysts See a Path to $375 and Beyond
Want to see what other hedge funds are holding C? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citigroup Inc. (NYSE:C – Free Report).
Receive News & Ratings for Citigroup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citigroup and related companies with MarketBeat.com's FREE daily email newsletter.
