Diversify Advisory Services LLC Buys 17,982 Shares of Citigroup Inc. $C

Diversify Advisory Services LLC boosted its stake in Citigroup Inc. (NYSE:C) by 98.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 36,197 shares of the company’s stock after buying an additional 17,982 shares during the quarter. Diversify Advisory Services LLC’s holdings in Citigroup were worth $4,818,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Whipplewood Advisors LLC bought a new stake in shares of Citigroup during the first quarter valued at approximately $25,000. Mcguire Capital Advisors Inc. bought a new position in Citigroup in the fourth quarter worth $25,000. Paladin Partners LLC purchased a new position in Citigroup during the second quarter valued at $27,000. Richards Merrill & Peterson Inc. bought a new stake in shares of Citigroup during the 4th quarter valued at $28,000. Finally, TD Capital Management LLC bought a new stake in shares of Citigroup during the 4th quarter valued at $28,000. 71.72% of the stock is owned by institutional investors.

Citigroup News Roundup

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

Citigroup Stock Performance

Shares of C stock opened at $137.66 on Wednesday. Citigroup Inc. has a one year low of $90.68 and a one year high of $147.96. The company’s 50-day moving average is $137.54 and its 200 day moving average is $126.02. The company has a market capitalization of $234.79 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 0.63 and a beta of 1.12. 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 (NYSE:C) last issued its 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 during the quarter, compared to analysts’ expectations of $23.74 billion. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.96 earnings per share. Sell-side analysts expect that Citigroup Inc. will post 11.2 EPS for the current fiscal year.

Citigroup announced that its Board of Directors has approved a stock repurchase plan on Thursday, May 7th that allows the company to buyback $30.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 13.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors 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 dividend yield of 1.9%. This is an increase from Citigroup’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, August 3rd. Citigroup’s payout ratio is 28.94%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on C shares. 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 note on Monday, August 3rd. Royal Bank Of Canada restated an “outperform” rating and issued a $150.00 price objective on shares of Citigroup in a report on Wednesday, July 15th. Wells Fargo & Company raised their target price 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. Keefe, Bruyette & Woods lifted their target price on shares of Citigroup from $140.00 to $153.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Finally, Oppenheimer cut Citigroup from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Two 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. According to MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and an average target price of $145.22.

Citigroup Company 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.