North Star Asset Management Inc. purchased a new stake in shares of Citigroup Inc. (NYSE:C – Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,884 shares of the company’s stock, valued at approximately $684,000.
Several other institutional investors also recently modified their holdings of C. Whipplewood Advisors LLC bought a new position in Citigroup during the 1st quarter valued at about $25,000. Mcguire Capital Advisors Inc. bought a new stake in shares of Citigroup in the fourth quarter worth approximately $25,000. Paladin Partners LLC purchased a new position in shares of Citigroup during the second quarter valued at approximately $27,000. TD Capital Management LLC purchased a new position in shares of Citigroup during the fourth quarter valued at approximately $28,000. Finally, IMG Wealth Management Inc. lifted its position in Citigroup by 197.6% during the first 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 period. 71.72% of the stock is owned by hedge funds and other institutional investors.
Citigroup Trading Up 0.1%
Citigroup stock opened at $132.77 on Friday. Citigroup Inc. has a 12-month low of $92.96 and a 12-month high of $147.96. The firm has a market capitalization of $226.45 billion, a price-to-earnings ratio of 14.34, a P/E/G ratio of 0.60 and a beta of 1.12. The firm has a 50 day moving average of $136.20 and a 200 day moving average of $126.81. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71.
Citigroup Increases Dividend
The company also recently announced 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 is a positive change from Citigroup’s previous quarterly dividend of $0.60. The ex-dividend date was Monday, August 3rd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.0%. Citigroup’s dividend payout ratio is presently 28.94%.
Citigroup announced that its board has approved a share buyback plan on Thursday, May 7th that allows the company to buyback $30.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 13.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
Trending Headlines about Citigroup
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
Analysts Set New Price Targets
C has been the subject of a number of research reports. Bank of America boosted their target price on shares of Citigroup from $170.00 to $176.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Argus set a $150.00 price objective on Citigroup in a report on Wednesday, July 15th. Royal Bank Of Canada reiterated an “outperform” rating and set a $150.00 price objective on shares of Citigroup in a research report on Wednesday, July 15th. Morgan Stanley raised their target price on Citigroup from $154.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Finally, Keefe, Bruyette & Woods boosted their price target on Citigroup from $140.00 to $153.00 and gave the company an “outperform” rating in a research note 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 MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and an average price target of $145.22.
View Our Latest Research Report on Citigroup
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.
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