Myriad Asset Management US LP Acquires New Position in Citigroup Inc. $C

Myriad Asset Management US LP bought a new stake in shares of Citigroup Inc. (NYSE:C) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 16,394 shares of the company’s stock, valued at approximately $1,664,000. Citigroup comprises about 0.9% of Myriad Asset Management US LP’s investment portfolio, making the stock its 25th largest holding.

Other institutional investors also recently bought and sold shares of the company. Brookstone Capital Management increased its stake in Citigroup by 31.5% during the 3rd quarter. Brookstone Capital Management now owns 75,914 shares of the company’s stock valued at $7,705,000 after purchasing an additional 18,176 shares in the last quarter. Permanent Capital Management LP purchased a new stake in shares of Citigroup during the 3rd quarter valued at about $1,238,000. Penobscot Investment Management Company Inc. raised its position in Citigroup by 61.5% in the third quarter. Penobscot Investment Management Company Inc. now owns 57,033 shares of the company’s stock worth $5,789,000 after acquiring an additional 21,720 shares during the period. Perigon Wealth Management LLC increased its position in Citigroup by 27.2% in the third quarter. Perigon Wealth Management LLC now owns 75,566 shares of the company’s stock worth $7,670,000 after buying an additional 16,171 shares in the last quarter. Finally, Keystone Financial Services bought a new stake in Citigroup during the 2nd quarter worth approximately $216,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Analysts largely dismissed fears of a multiple re-rating after Citigroup’s stronger-than-expected Q4 update, arguing core results and progress on restructuring reduce downside risk for the stock. Analysts Dismiss Re-Rating Fears After Bright Citigroup (C) Earnings Update
• Positive Sentiment: Company messaging and coverage signal stabilizing core businesses and tangible progress on the 80% overhaul/streamlining plan, which supports medium-term margin improvement expectations. Citigroup (C) Signals Stabilizing Core Businesses and Progress on Strategic Streamlining
• Positive Sentiment: Zacks added Citigroup to its Rank #1 (Strong Buy) list today, a vote of analyst confidence that can attract momentum buyers and institutional interest. New Strong Buy Stocks for January 23rd
• Neutral Sentiment: Reports say JPMorgan and Citigroup are considering fixed-pay cuts for senior UK executives — a small-cost-control measure that is unlikely to move U.S. earnings materially but signals ongoing expense management. JPMorgan and Citigroup consider fixed pay cuts for senior UK executives
• Negative Sentiment: Exclusive Reuters report says Citigroup will lay off more employees in March after ~1,000 job cuts this month — a sign of deeper restructuring that may cut costs but also signals execution risk and short-term disruption. Exclusive: Citigroup to lay off more employees in March, sources say
• Negative Sentiment: Reports that Citi is exploring a 10% capped-rate credit-card product (to address political pressure) and CEO warnings that rate caps would restrict credit suggest potential margin compression and regulatory risk if a cap or voluntary product becomes widespread. Bank of America, Citigroup consider new credit cards with 10% rate, Bloomberg News reports
• Negative Sentiment: Citi research flagged risks from Japan bond-market turmoil (potential large Treasury selling), a macro shock that could widen funding costs and volatility—an indirect headwind for large banks. Japan Bond Turmoil Risks Up to $130 Billion Treasury Selling, Citi Says

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on C shares. Piper Sandler set a $135.00 price objective on Citigroup in a research note on Thursday, January 15th. Barclays lifted their target price on Citigroup from $115.00 to $146.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Citigroup in a research note on Wednesday. Wells Fargo & Company set a $150.00 price objective on Citigroup in a report on Monday, January 5th. Finally, Wolfe Research reaffirmed an “outperform” rating and issued a $141.00 price objective on shares of Citigroup in a research report on Wednesday, January 7th. Fourteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $125.56.

Citigroup Stock Performance

Shares of Citigroup stock opened at $115.55 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.99 and a current ratio of 1.00. Citigroup Inc. has a one year low of $55.51 and a one year high of $124.17. The business’s 50 day moving average price is $111.77 and its 200 day moving average price is $101.83. The company has a market cap of $206.75 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 0.72 and a beta of 1.18.

Citigroup (NYSE:C) last issued its quarterly earnings data on Wednesday, January 14th. The company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.16. The company had revenue of $19.87 billion during the quarter, compared to analyst estimates of $20.99 billion. Citigroup had a return on equity of 8.28% and a net margin of 8.50%.The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.34 earnings per share. On average, research analysts predict that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Monday, February 2nd will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, February 2nd. This represents a $2.40 annualized dividend and a yield of 2.1%. Citigroup’s dividend payout ratio is presently 34.43%.

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.