Hudson Value Partners LLC Acquires Shares of 4,285 Citigroup Inc. $C

Hudson Value Partners LLC bought a new stake in shares of Citigroup Inc. (NYSE:C) in the second quarter, Holdings Channel reports. The firm bought 4,285 shares of the company’s stock, valued at approximately $600,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Truist Financial Corp lifted its holdings in shares of Citigroup by 4.7% during the 4th quarter. Truist Financial Corp now owns 375,977 shares of the company’s stock valued at $43,873,000 after buying an additional 16,744 shares during the last quarter. UniSuper Management Pty Ltd increased its holdings in Citigroup by 38.8% in the fourth quarter. UniSuper Management Pty Ltd now owns 1,306,851 shares of the company’s stock worth $152,496,000 after buying an additional 365,041 shares during the last quarter. Brighton Jones LLC raised its position in Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after acquiring an additional 12,499 shares in the last quarter. Merit Financial Group LLC raised its position in Citigroup by 15.6% during the fourth quarter. Merit Financial Group LLC now owns 96,453 shares of the company’s stock valued at $11,255,000 after acquiring an additional 13,046 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Citigroup by 4.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,819,471 shares of the company’s stock valued at $453,371,000 after acquiring an additional 145,610 shares during the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on C shares. Truist Financial cut their price target on shares of Citigroup from $158.00 to $154.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. UBS Group cut their target price on Citigroup from $150.00 to $142.00 and set a “neutral” rating on the stock in a report on Monday, August 3rd. Evercore set a $143.00 price target on Citigroup in a research note on Monday, July 6th. Zacks Research raised Citigroup from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Finally, Wells Fargo & Company raised their price objective on Citigroup from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $145.22.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Healthcare banking expansion: Citi appointed new leadership across biotechnology, medical technology, biopharmaceuticals and acute-care banking. The changes position the firm to benefit from increased healthcare dealmaking and could support future advisory, underwriting and financing revenue. Citi Taps New Healthcare Banking Leadership as Dealmaking Heats Up
• Positive Sentiment: Large financing mandate: Citi co-led a $414 million financing for restaurant-commerce platform inKind. The oversubscribed transaction brings inKind’s total capital raised above $1.2 billion and demonstrates Citi’s ability to win sizable private-company financing business, although the direct earnings impact is likely limited. inKind Secures $414 Million in Financing Led by Citi and Cross River
• Positive Sentiment: European leadership hire: Citigroup hired Jean-Baptiste Charlet from Morgan Stanley to lead its French operation. The move could help Citi strengthen its presence in France and compete for corporate, markets and investment-banking mandates. Citigroup Poaches Charlet From Morgan Stanley to Head French Arm
• Neutral Sentiment: Research activity remains visible: Citi maintained a Buy rating and raised its price target on MongoDB, while separately lowering its target for Micron because of potential slowing memory pricing and rising Chinese competition. These calls may generate research and client activity, but they have little direct effect on Citigroup’s earnings or valuation.

Citigroup Stock Performance

NYSE:C opened at $135.78 on Wednesday. Citigroup Inc. has a 1 year low of $90.68 and a 1 year high of $147.96. The firm’s fifty day simple moving average is $137.02 and its 200 day simple moving average is $125.19. 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 has a market capitalization of $231.58 billion, a PE ratio of 14.66, a PEG ratio of 0.61 and a beta of 1.12.

Citigroup (NYSE:C) last released its earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.74 by $0.41. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The firm had revenue of $24.77 billion during the quarter, compared to analyst estimates of $23.74 billion. During the same quarter in the previous year, the business earned $1.96 EPS. The business’s revenue was up 14.5% on a year-over-year basis. On average, sell-side analysts anticipate that Citigroup Inc. will post 11.2 EPS 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 paid a $0.67 dividend. 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 dividend on an annualized basis and a dividend yield of 2.0%. Citigroup’s dividend payout ratio is presently 28.94%.

Citigroup announced that its board has initiated a share buyback plan on Thursday, May 7th that allows the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 13.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

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.