Citigroup Inc. $C Shares Acquired by Danske Bank A S

Danske Bank A S increased its stake in Citigroup Inc. (NYSE:C) by 82.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,815,137 shares of the company’s stock after acquiring an additional 819,286 shares during the period. Danske Bank A S owned approximately 0.11% of Citigroup worth $254,047,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of C. Diversify Advisory Services LLC increased its position in shares of Citigroup by 98.7% during the second quarter. Diversify Advisory Services LLC now owns 36,197 shares of the company’s stock worth $4,818,000 after purchasing an additional 17,982 shares in the last quarter. Foster & Motley Inc. acquired a new stake in shares of Citigroup in the 2nd quarter valued at about $504,000. Paladin Partners LLC acquired a new stake in shares of Citigroup in the 2nd quarter valued at about $27,000. Commerzbank Aktiengesellschaft FI purchased a new position in Citigroup during the 2nd quarter worth approximately $3,636,000. Finally, Trust Co. of Vermont purchased a new position in Citigroup during the 2nd quarter worth approximately $316,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Down 0.6%

C stock opened at $137.66 on Wednesday. The stock has a market capitalization of $234.79 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 0.63 and a beta of 1.12. The company has a fifty day moving average of $137.54 and a 200-day moving average of $126.02. 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 one year low of $90.68 and a one year high of $147.96.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business’s revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.96 earnings per share. As a group, analysts expect that Citigroup Inc. will post 11.2 EPS for the current year.

Citigroup announced that its board has approved a stock repurchase plan 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors 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 given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 1.9%. The ex-dividend date is Monday, August 3rd. This is a positive change from Citigroup’s previous quarterly dividend of $0.60. Citigroup’s payout ratio is presently 28.94%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on C shares. Wall Street Zen downgraded Citigroup from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Bank of America increased their price target on shares of Citigroup from $170.00 to $176.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Evercore set a $143.00 price objective on shares of Citigroup in a research report on Monday, July 6th. Wells Fargo & Company lifted their price objective on shares of Citigroup from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, June 18th. Finally, UBS Group dropped their price objective on shares of Citigroup from $150.00 to $142.00 and set a “neutral” rating on the stock in a research note on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $145.22.

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup plans to launch institutional Bitcoin custody services later this year, allowing clients to hold digital and traditional assets under one framework. The offering could create new fee revenue, strengthen Citi’s institutional-asset franchise and help the bank compete with major Wall Street rivals in digital-asset infrastructure. Bitcoin Custody for Institutional Clients Is Coming to Citi Later This Year
• Positive Sentiment: Citi also introduced its Custody+ platform, featuring continuous settlement, artificial-intelligence tools and an in-house tokenization rail through Citi Token Services. The platform supports the bank’s strategy of modernizing custody and transaction services, although the immediate earnings contribution remains uncertain. Citigroup Rolls Out Custody+ Platform With Bitcoin Services and Continuous Settlement
• Neutral Sentiment: Citi’s research team said prediction markets point toward a divided U.S. government after the midterm elections and outlined potential trading implications. The analysis may influence views on regulation, fiscal policy and bank-sector conditions, but it does not represent a direct change to Citigroup’s fundamentals. Prediction Markets See a Divided Government After Midterm Elections
• Negative Sentiment: Citigroup and five other banks agreed to an $86.4 million settlement resolving allegations of manipulation in Mexico’s bond market. Citi’s share of the payment was not specified, but the resolution creates a modest cost and reinforces regulatory and litigation risks for the bank. Major US Banks Agree to $86.4M Settlement in Mexican Bond-Rigging Case

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.