Braun Stacey Associates Inc. bought a new position in Citigroup Inc. (NYSE:C – Free Report) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 237,039 shares of the company’s stock, valued at approximately $33,176,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after purchasing an additional 12,499 shares during the period. Sivia Capital Partners LLC raised its holdings in Citigroup by 20.5% in the second quarter. Sivia Capital Partners LLC now owns 9,805 shares of the company’s stock worth $835,000 after purchasing an additional 1,669 shares in the last quarter. United Bank purchased a new position in Citigroup during the second quarter valued at $972,000. Osterweis Capital Management Inc. lifted its position in Citigroup by 3,016.7% during the second quarter. Osterweis Capital Management Inc. now owns 935 shares of the company’s stock valued at $80,000 after buying an additional 905 shares during the period. Finally, HUB Investment Partners LLC boosted its holdings in shares of Citigroup by 26.9% during the 2nd quarter. HUB Investment Partners LLC now owns 15,287 shares of the company’s stock valued at $1,301,000 after buying an additional 3,238 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.
Citigroup News Roundup
Here are the key news stories impacting Citigroup this week:
- Positive Sentiment: Citigroup’s recent quarterly results provide a fundamental cushion: earnings and revenue exceeded analyst expectations, with revenue up 14.5% year over year. SEC Probe Puts Wall Street Leverage Risk Back in Focus
- Neutral Sentiment: Citi analyst activity on Oracle, BMW and Forvia reflects the bank’s research and advisory business, but the recommendations are directed at those companies and have little direct impact on Citigroup’s equity value. Oracle Stock Gains Premarket
- Neutral Sentiment: Citigroup entities reported exiting substantial-holder status in Australia’s IDP Education and Healius. These appear to be portfolio or position disclosures rather than changes to Citi’s core business, making the immediate stock impact limited. Citi Group Entities Exit Substantial Holder Status in IDP Education
- Negative Sentiment: The SEC reportedly subpoenaed Citigroup, Goldman Sachs, JPMorgan and Bank of America over margin lending to hedge fund Situational Awareness, which suffered a 67% drawdown during an AI-stock sell-off. The probe puts leverage, collateral and counterparty-risk controls under scrutiny; potential fines, litigation costs or tighter lending requirements could weigh on Citi’s profitability, although the ultimate exposure remains unclear. SEC Probe Puts Wall Street Leverage Risk Back in Focus
Citigroup Stock Performance
Citigroup (NYSE:C – Get Free Report) last issued its earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.74 by $0.41. The business had revenue of $24.77 billion during 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 business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.96 earnings per share. 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 approved a stock repurchase plan on Thursday, May 7th that allows the company to buyback $30.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 13.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
Citigroup Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 3rd were given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 2.0%. This is an increase from Citigroup’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, August 3rd. Citigroup’s payout ratio is 28.94%.
Analysts Set New Price Targets
A number of research firms have recently weighed in on C. Argus set a $150.00 target price on shares of Citigroup in a research report on Wednesday, July 15th. Oppenheimer cut shares of Citigroup from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Royal Bank Of Canada restated an “outperform” rating and issued a $150.00 price objective on shares of Citigroup in a report on Wednesday, July 15th. Morgan Stanley raised their target price on shares of Citigroup from $154.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Citigroup from $140.00 to $153.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $145.22.
Check Out Our Latest Stock Analysis on Citigroup
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.
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