PNC Financial Services Group Inc. Has $51.48 Million Stake in Citigroup Inc. $C

PNC Financial Services Group Inc. boosted its position in shares of Citigroup Inc. (NYSE:C) by 2.2% during the 1st quarter, HoldingsChannel reports. The firm owned 453,950 shares of the company’s stock after buying an additional 9,948 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Citigroup were worth $51,483,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Cora Capital Advisors LLC boosted its position in shares of Citigroup by 3.1% in the first quarter. Cora Capital Advisors LLC now owns 2,609 shares of the company’s stock worth $296,000 after buying an additional 78 shares during the period. CFS Investment Advisory Services LLC raised its position in Citigroup by 0.4% during the first quarter. CFS Investment Advisory Services LLC now owns 20,596 shares of the company’s stock valued at $2,336,000 after buying an additional 79 shares during the period. Verus Capital Partners LLC lifted its stake in Citigroup by 3.1% in the 4th quarter. Verus Capital Partners LLC now owns 2,748 shares of the company’s stock worth $321,000 after acquiring an additional 82 shares in the last quarter. CFO Capital Management LLC boosted its position in Citigroup by 1.5% during the 1st quarter. CFO Capital Management LLC now owns 5,495 shares of the company’s stock worth $590,000 after acquiring an additional 83 shares during the period. Finally, D.B. Root & Company LLC boosted its position in Citigroup by 2.8% during the 4th quarter. D.B. Root & Company LLC now owns 3,191 shares of the company’s stock worth $372,000 after acquiring an additional 87 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Insiders Place Their Bets

In other Citigroup news, Director John Cunningham Dugan sold 2,117 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $125.30, for a total transaction of $265,260.10. Following the completion of the sale, the director directly owned 12,194 shares in the company, valued at $1,527,908.20. This represents a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is currently owned by corporate insiders.

Citigroup Price Performance

NYSE C opened at $131.94 on Friday. Citigroup Inc. has a fifty-two week low of $87.94 and a fifty-two week high of $147.96. The stock’s 50-day moving average is $134.84 and its two-hundred day moving average is $123.76. The firm has a market cap of $225.03 billion, a P/E ratio of 14.25, a price-to-earnings-growth ratio of 0.59 and a beta of 1.11. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.99 and a quick ratio of 0.99.

Citigroup (NYSE:C) last released its quarterly 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. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The company had revenue of $24.75 billion during the quarter, compared to the consensus estimate of $23.74 billion. During the same quarter in the prior year, the company posted $1.96 EPS. The firm’s revenue was up 14.5% on a year-over-year basis. On average, analysts anticipate that Citigroup Inc. will post 11.22 earnings per share for the current fiscal year.

Citigroup declared that its Board of Directors has approved a share repurchase program on Thursday, May 7th that allows the company to buyback $30.00 billion in shares. This buyback authorization allows the company to repurchase up to 13.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 3rd will be issued a $0.67 dividend. This is a boost from Citigroup’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, August 3rd. This represents a $2.68 annualized dividend and a yield of 2.0%. Citigroup’s payout ratio is 25.92%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Morgan Stanley upped their target price on Citigroup from $154.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Wells Fargo & Company boosted their price objective on shares of Citigroup from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, June 18th. Bank of America increased their target price on shares of Citigroup from $170.00 to $176.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Evercore set a $143.00 target price on shares of Citigroup in a research note on Monday, July 6th. Finally, Keefe, Bruyette & Woods boosted their price target 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 equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.67.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup priced an $817 million multifamily CMBS deal, its largest post-GFC multifamily-only securitization, underscoring continued strength in Citi’s commercial real estate capital markets franchise and demand for apartment-backed debt. Citigroup (C) Sets Post GFC Record With $817 Million Multifamily CMBS Deal
• Positive Sentiment: Several brokerages remain constructive on Citigroup after its strong second quarter, with analysts pointing to solid earnings, improving outlooks and rising estimates for the bank. Buy 3 Top-Ranked Big Investment Banks Amid Solid Q2 Earnings & Outlook
• Positive Sentiment: Citigroup raised its quarterly dividend to $0.67 per share from $0.60, signaling confidence in capital strength and offering a more attractive income profile for shareholders. Dividend announcement
• Neutral Sentiment: Citigroup was also in the news for hiring five U.S. tech investment banking executives, a move that could support franchise growth over time but is unlikely to move the stock immediately. Citigroup hires five US tech investment banking executives from rivals
• Negative Sentiment: Citi’s downgrade of agilon health to Sell shows the bank is still making cautious calls on certain sectors, but this is more relevant to agilon than to Citigroup’s own earnings outlook. Why agilon health (AGL) Shares Are Falling Today

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.