Wedge Capital Management L L P NC Lowers Stake in Citigroup Inc. $C

Wedge Capital Management L L P NC lowered its holdings in shares of Citigroup Inc. (NYSE:C) by 6.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 254,560 shares of the company’s stock after selling 18,194 shares during the period. Wedge Capital Management L L P NC’s holdings in Citigroup were worth $35,628,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whipplewood Advisors LLC purchased a new position in shares of Citigroup during the first quarter valued at approximately $25,000. Mcguire Capital Advisors Inc. purchased a new position in Citigroup in the fourth quarter worth about $25,000. Richards Merrill & Peterson Inc. bought a new position in shares of Citigroup in the fourth quarter worth approximately $28,000. TD Capital Management LLC purchased a new stake in shares of Citigroup during the fourth quarter valued at approximately $28,000. Finally, IMG Wealth Management Inc. raised its holdings in Citigroup by 197.6% in 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. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi strengthens healthcare investment-banking leadership. Citigroup appointed new leaders covering biotechnology, medical technology, biopharmaceuticals and acute care, positioning the bank to capture potential dealmaking as healthcare mergers, acquisitions and financing activity accelerates. The move could support future advisory and underwriting revenue. Citi Taps New Healthcare Banking Leadership as Dealmaking Heats Up
• Positive Sentiment: Citi helped lead a $414 million financing for inKind. The oversubscribed transaction, led by Citigroup and Cross River, expands Citi’s relationships with private companies and demonstrates continued demand for its lending and capital-markets services. The financial impact was not disclosed, so the direct earnings benefit is likely limited in the near term. inKind Secures $414 Million in Financing Led by Citi and Cross River
• Neutral Sentiment: Citi remains constructive on MongoDB. The bank reiterated a Buy rating and raised its MongoDB price target to $545, citing possible estimate increases, earnings, product announcements and investor events. This reflects Citi’s research outlook rather than a direct catalyst for Citigroup’s own earnings, though successful client coverage and research visibility can support institutional relationships. Citi bullish on MongoDB stock

Wall Street Analysts Forecast Growth

C has been the topic of several analyst reports. Barclays upped their price objective on Citigroup from $146.00 to $154.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Wall Street Zen cut Citigroup from a “buy” rating to a “hold” rating in a research note on Saturday. Evercore set a $143.00 price target on Citigroup in a report on Monday, July 6th. Oppenheimer cut Citigroup from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Finally, Morgan Stanley lifted their price objective on Citigroup from $154.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Two investment 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 stock. According to MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and an average price target of $145.22.

Citigroup Trading Up 0.4%

Shares of C stock opened at $135.78 on Wednesday. Citigroup Inc. has a 12-month low of $90.68 and a 12-month 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 firm’s 50 day moving average is $137.02 and its 200 day moving average is $125.19. The stock has a market capitalization of $231.58 billion, a P/E ratio of 14.66, a P/E/G ratio of 0.61 and a beta of 1.12.

Citigroup (NYSE:C) last announced its earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.74 by $0.41. The business had revenue of $24.77 billion during 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 company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.96 EPS. Research analysts expect that Citigroup Inc. will post 11.2 earnings per share for the current year.

Citigroup Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, August 3rd. This is an increase from Citigroup’s previous quarterly dividend of $0.60. This represents a $2.68 annualized dividend and a dividend yield of 2.0%. Citigroup’s dividend payout ratio is presently 28.94%.

Citigroup declared that its Board of Directors has initiated a stock repurchase program on Thursday, May 7th that permits the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 13.7% of its shares through open market purchases. Shares repurchase programs are usually a sign 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.