OMERS ADMINISTRATION Corp Buys 28,939 Shares of Citigroup Inc. $C

OMERS ADMINISTRATION Corp boosted its stake in Citigroup Inc. (NYSE:C) by 24.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 148,763 shares of the company’s stock after buying an additional 28,939 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Citigroup were worth $16,871,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of C. Cora Capital Advisors LLC grew 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 valued at $296,000 after purchasing an additional 78 shares during the last quarter. CFS Investment Advisory Services LLC increased its stake in shares of Citigroup by 0.4% during the first quarter. CFS Investment Advisory Services LLC now owns 20,596 shares of the company’s stock worth $2,336,000 after purchasing an additional 79 shares during the period. Verus Capital Partners LLC lifted its holdings in Citigroup by 3.1% during the 4th quarter. Verus Capital Partners LLC now owns 2,748 shares of the company’s stock worth $321,000 after purchasing an additional 82 shares during the last quarter. CFO Capital Management LLC lifted its holdings 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 purchasing an additional 83 shares during the last quarter. Finally, D.B. Root & Company LLC boosted its stake in Citigroup by 2.8% in the 4th quarter. D.B. Root & Company LLC now owns 3,191 shares of the company’s stock valued at $372,000 after purchasing an additional 87 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Trading Up 0.1%

Shares of NYSE:C opened at $131.95 on Friday. The company has a market capitalization of $225.06 billion, a P/E ratio of 14.25, a P/E/G ratio of 0.60 and a beta of 1.11. Citigroup Inc. has a 1 year low of $87.94 and a 1 year high of $147.96. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.99 and a quick ratio of 0.99. The business’s 50 day simple moving average is $135.01 and its 200 day simple moving average is $123.82.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, July 14th. The company reported $3.15 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.41. The firm had revenue of $24.75 billion for the quarter, compared to analyst estimates of $23.74 billion. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The company’s revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the company earned $1.96 EPS. On average, research analysts anticipate that Citigroup Inc. will post 11.2 EPS for the current fiscal year.

Citigroup announced that its Board of Directors has initiated a share repurchase program on Thursday, May 7th that permits the company to buyback $30.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 13.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Citigroup Increases Dividend

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

Insider Activity at Citigroup

In related news, Director John Cunningham Dugan sold 2,117 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $125.30, for a total value of $265,260.10. Following the transaction, the director owned 12,194 shares in the company, valued at approximately $1,527,908.20. This trade represents a 14.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on C. UBS Group upped their price objective on Citigroup from $134.00 to $150.00 and gave the company a “neutral” rating in a report on Tuesday, July 7th. Wall Street Zen raised Citigroup from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Citigroup in a research report on Friday, July 17th. Evercore set a $143.00 price target on shares of Citigroup in a research note on Monday, July 6th. Finally, The Goldman Sachs Group raised their price target on shares of Citigroup from $137.00 to $151.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.67.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi analysts said the recent pullback in semiconductor stocks looks like a buying opportunity, which may support broader risk appetite and help sentiment around markets that Citigroup covers through its trading and research franchises. Pullback in chip stocks is a buying opportunity, Citi says
• Positive Sentiment: Citigroup was highlighted in a new CMBS deal update, after pricing an $817 million multifamily conduit transaction, reinforcing Citi’s role as an active lender and securitization player in U.S. commercial real estate. Citigroup (C) Sets Post GFC Record With $817 Million Multifamily CMBS Deal
• Neutral Sentiment: Citigroup reportedly closed a bullish South African rand trade after the currency looked “fragile” following South Africa’s surprise rate hold. This is more of a trading update than a major earnings driver, but it shows Citi is actively adjusting macro positions. Citi Drops Rand Bet After South Africa’s Surprise Rate Hold
• Neutral Sentiment: Separately, a headline noting Citi’s bearish view on the “Magnificent Seven” may reflect the bank’s broader market outlook, but it does not directly change Citigroup’s fundamentals. Wall Street Bank Just Declared the Magnificent 7 as “Dead” — What Happens Next?

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.