Ninepoint Partners LP Acquires Shares of 4,142 Citigroup Inc. $C

Ninepoint Partners LP bought a new position in shares of Citigroup Inc. (NYSE:C) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,142 shares of the company’s stock, valued at approximately $580,000.

Several other hedge funds also recently made changes to their positions in the business. Whipplewood Advisors LLC bought a new stake in shares of Citigroup in the first quarter valued at approximately $25,000. Mcguire Capital Advisors Inc. bought a new position in shares of Citigroup in the 4th quarter valued at $25,000. Paladin Partners LLC acquired a new position in Citigroup during the second quarter worth about $27,000. TD Capital Management LLC bought a new position in Citigroup in the 4th quarter valued at approximately $28,000. Finally, IMG Wealth Management Inc. grew its position in Citigroup by 197.6% during the 1st quarter. IMG Wealth Management Inc. now owns 244 shares of the company’s stock worth $28,000 after acquiring an additional 162 shares during the last quarter. 71.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on C shares. Wells Fargo & Company lifted their price target on Citigroup from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, June 18th. Truist Financial dropped their price objective on shares of Citigroup from $158.00 to $154.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. Bank of America lifted 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. UBS Group decreased their price target on shares of Citigroup from $150.00 to $142.00 and set a “neutral” rating for the company in a research report on Monday, August 3rd. Finally, Oppenheimer lowered shares of Citigroup from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and a consensus target price of $145.22.

Key Headlines Impacting 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

Citigroup Stock Up 1.4%

Shares of NYSE C opened at $131.46 on Friday. The company’s 50 day moving average price is $137.20 and its 200-day moving average price is $126.29. 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 Inc. has a 52-week low of $92.84 and a 52-week high of $147.96. The company has a market capitalization of $224.22 billion, a P/E ratio of 14.20, a price-to-earnings-growth ratio of 0.58 and a beta of 1.12.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, July 14th. The company reported $3.15 earnings per share for the quarter, topping the consensus estimate of $2.74 by $0.41. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The company had revenue of $24.77 billion during the quarter, compared to analysts’ expectations of $23.74 billion. During the same period in the prior year, the company posted $1.96 earnings per share. Citigroup’s revenue for the quarter was up 14.5% compared to the same quarter last year. Equities analysts forecast that Citigroup Inc. will post 11.2 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, August 3rd will be given a $0.67 dividend. This is a boost 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 dividend payout ratio is 28.94%.

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

Citigroup 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.