Citigroup Inc. $C Stake Cut by Sanctuary Advisors LLC

Sanctuary Advisors LLC lessened its holdings in Citigroup Inc. (NYSE:C) by 6.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 237,262 shares of the company’s stock after selling 16,682 shares during the quarter. Sanctuary Advisors LLC’s holdings in Citigroup were worth $33,207,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Paladin Partners LLC bought a new stake in shares of Citigroup during the 2nd quarter valued at about $27,000. Mcguire Capital Advisors Inc. bought a new position in Citigroup in the fourth quarter worth about $25,000. Whipplewood Advisors LLC acquired a new position in Citigroup in the first quarter valued at approximately $25,000. TD Capital Management LLC acquired a new position in Citigroup in the fourth quarter valued at approximately $28,000. Finally, IMG Wealth Management Inc. grew its holdings in shares of 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 last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Trading Down 0.1%

NYSE:C opened at $131.46 on Monday. Citigroup Inc. has a 1 year low of $92.84 and a 1 year high of $147.96. The stock has a market cap of $224.22 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 0.59 and a beta of 1.12. The business has a fifty day moving average of $137.20 and a 200-day moving average of $126.36. 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 (NYSE:C) last issued its quarterly earnings data on Tuesday, July 14th. The company reported $3.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.74 by $0.41. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The business had revenue of $24.77 billion for the quarter, compared to analysts’ expectations of $23.74 billion. During the same period in the previous year, the business earned $1.96 earnings per share. The company’s revenue was up 14.5% on a year-over-year basis. Equities analysts predict that Citigroup Inc. will post 11.2 earnings per share for the current year.

Citigroup Increases Dividend

The business also recently announced 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. This represents a $2.68 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, August 3rd. This is a positive change from Citigroup’s previous quarterly dividend of $0.60. Citigroup’s dividend payout ratio is 28.94%.

Citigroup declared that its board has initiated a stock repurchase plan on Thursday, May 7th that authorizes the company to repurchase $30.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 13.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. UBS Group dropped their price target on Citigroup from $150.00 to $142.00 and set a “neutral” rating on the stock in a research report on Monday, August 3rd. Evercore set a $143.00 price objective on Citigroup in a research note on Monday, July 6th. Zacks Research raised shares of Citigroup from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Keefe, Bruyette & Woods increased their price objective on shares of Citigroup from $140.00 to $153.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Citigroup in a research report on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and an average target price of $145.22.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Anthropic IPO role could boost fee revenue and deal visibility. Citigroup is reportedly being added to the group of leading banks guiding Anthropic toward a potential initial public offering. A role on a large, prominent AI-company listing could generate underwriting fees and strengthen Citi’s capital-markets franchise. Anthropic adds Citigroup to top banks guiding its IPO
• Positive Sentiment: Citigroup received strong growth-oriented stock-market recognition. A recent ranking identified Citigroup and Goldman Sachs among financial giants receiving “buy” growth grades, reinforcing the view that Citi’s earnings and business outlook compare favorably with peers. Citigroup and Goldman Sachs lead as most financial giants earn buy growth grades
• Neutral Sentiment: Citi remains constructive on broader equity markets. The bank maintained an overweight view on equities and said it would use any weakness before the U.S. midterm elections to add exposure. This may support confidence in Citi’s research and client-facing businesses, although it does not directly change the company’s earnings outlook. S&P 500 may pull back before midterms, but Citi says buy the dip
• Negative Sentiment: Credit-quality concerns remain a risk. Citigroup’s July card delinquencies edged higher, although lower charge-offs provided some offsetting relief. Investors may continue monitoring consumer credit trends for signs of pressure on asset quality and loan-loss provisions. C’s July Card Delinquencies Tick Up

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.