S&CO Inc. Purchases New Shares in Citigroup Inc. $C

S&CO Inc. purchased a new position in shares of Citigroup Inc. (NYSE:C) during the second quarter, HoldingsChannel reports. The fund purchased 39,794 shares of the company’s stock, valued at approximately $5,569,000.

Several other hedge funds and other institutional investors have also bought and sold shares of C. Orca Investment Management LLC bought a new stake in Citigroup in the 2nd quarter valued at about $478,000. Ballast Inc. bought a new position in shares of Citigroup during the second quarter worth approximately $675,000. Regent Peak Wealth Advisors LLC increased its holdings in shares of Citigroup by 8.2% during the second quarter. Regent Peak Wealth Advisors LLC now owns 4,567 shares of the company’s stock worth $639,000 after purchasing an additional 346 shares during the period. Hudson Value Partners LLC acquired a new stake in shares of Citigroup in the second quarter valued at approximately $600,000. Finally, FORM Wealth Advisors LLC acquired a new stake in shares of Citigroup in the second quarter valued at approximately $205,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Performance

Shares of Citigroup stock opened at $139.21 on Friday. The company has a 50 day moving average of $137.38 and a 200-day moving average of $125.62. Citigroup Inc. has a 1-year low of $90.68 and a 1-year high of $147.96. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71. The company has a market cap of $237.43 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 0.63 and a beta of 1.12.

Citigroup (NYSE:C) last posted 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. The business had revenue of $24.77 billion for the quarter, compared to analyst estimates of $23.74 billion. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter last year, the business posted $1.96 EPS. As a group, equities research analysts forecast that Citigroup Inc. will post 11.2 earnings per share for the current fiscal year.

Citigroup declared that its board 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 buy up to 13.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Citigroup Increases Dividend

The firm 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. The ex-dividend date is Monday, August 3rd. This is a boost from Citigroup’s previous quarterly dividend of $0.60. This represents a $2.68 annualized dividend and a yield of 1.9%. Citigroup’s dividend payout ratio is currently 28.94%.

Analysts Set New Price Targets

C has been the topic of a number of analyst reports. Wall Street Zen downgraded Citigroup from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citigroup in a report on Friday, July 17th. Royal Bank Of Canada reiterated an “outperform” rating and set a $150.00 target price on shares of Citigroup in a research report on Wednesday, July 15th. Zacks Research raised Citigroup from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Finally, Bank of America raised their price target on Citigroup from $170.00 to $176.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $145.22.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Kard acquisition strengthens U.S. cards strategy: Citi agreed to acquire Kard Financial, a commerce-media and rewards platform that connects banks, fintechs and merchants. The deal is intended to improve personalized offers, customer engagement and merchant-funded rewards, potentially supporting growth and profitability in Citi’s U.S. Consumer Cards business. Terms were not disclosed. Citi Plans to Acquire Kard to Deliver More Personalized Rewards
• Positive Sentiment: New financing activity highlights institutional banking strength: Citibank acted as lender and agent in an approximately $4.6 billion syndicated loan supporting a Japan-U.S. strategic investment initiative. The transaction reinforces Citi’s cross-border corporate and government-related financing capabilities and could generate additional fees and client relationships. Citigroup Participates in Financing for Japan-U.S. Strategic Investment Initiative
• Positive Sentiment: Large asset-servicing mandate adds recurring revenue potential: Citi Investor Services won a full middle-office mandate from Aegon Asset Management covering $380 billion in assets under management, expanding an existing 20-year relationship. The award supports the growth of Citi’s fee-based services and institutional franchise. Citi Investor Services Wins US$380 Billion Middle Office Mandate from Aegon Asset Management
• Neutral Sentiment: Management supports clearer crypto rules: CEO Jane Fraser called a strong version of the proposed CLARITY Act “excellent for the system,” though unresolved issues remain for banks. Clearer regulation could eventually expand institutional digital-asset activity, but the near-term earnings impact is uncertain. Bitcoin to $1M If CLARITY Act Passes? Citi CEO Discusses the CLARITY Act
• Negative Sentiment: Valuation and macro risks could limit upside: Citi’s stock has advanced substantially over the past year, prompting investors to question how much of the turnaround is already reflected in the price. The bank also noted softer household and business borrowing in China, while its commodities team is cautious about chasing rallies in gold—factors that could temper market enthusiasm. Is Citigroup a Solid Investment Option After a 51.2% Jump in a Year?

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.