Citigroup Inc. $C Shares Bought by Quantitative Investment Management LLC

Quantitative Investment Management LLC increased its holdings in shares of Citigroup Inc. (NYSE:C) by 1,319.6% in the second quarter, Holdings Channel reports. The firm owned 113,851 shares of the company’s stock after buying an additional 105,831 shares during the period. Citigroup comprises 1.7% of Quantitative Investment Management LLC’s investment portfolio, making the stock its 7th largest holding. Quantitative Investment Management LLC’s holdings in Citigroup were worth $15,934,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new stake in shares of Citigroup in the first quarter valued at $25,000. Mcguire Capital Advisors Inc. purchased a new stake in Citigroup in the fourth quarter valued at $25,000. Paladin Partners LLC purchased a new stake in shares of Citigroup in the 2nd quarter valued at about $27,000. TD Capital Management LLC acquired a new stake in shares of Citigroup in the fourth quarter valued at approximately $28,000. Finally, IMG Wealth Management Inc. grew its position in Citigroup by 197.6% in the 1st quarter. IMG Wealth Management Inc. now owns 244 shares of the company’s stock valued at $28,000 after buying an additional 162 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Trading Down 0.1%

NYSE:C opened at $132.77 on Monday. The stock has a market cap of $226.45 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 0.60 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. The business’s 50-day simple moving average is $136.20 and its 200 day simple moving average is $126.83. Citigroup Inc. has a one year low of $92.96 and a one year high of $147.96.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, July 14th. The company reported $3.15 earnings per share for the quarter, topping the consensus estimate of $2.74 by $0.41. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The company had revenue of $24.77 billion during the quarter, compared to analyst estimates of $23.74 billion. During the same period last year, the business earned $1.96 EPS. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, sell-side analysts predict that Citigroup Inc. will post 11.21 earnings per share for the current fiscal year.

Citigroup announced that its Board of Directors has authorized a share buyback program on Thursday, May 7th that allows the company to buyback $30.00 billion in shares. This buyback authorization allows the company to purchase up to 13.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 3rd were issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from Citigroup’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, August 3rd. Citigroup’s dividend payout ratio is presently 28.94%.

Wall Street Analysts Forecast Growth

C has been the subject of several analyst reports. Truist Financial cut their price target on shares of Citigroup from $158.00 to $154.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. Oppenheimer lowered shares of Citigroup from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Evercore set a $143.00 target price on Citigroup in a research note on Monday, July 6th. Keefe, Bruyette & Woods raised their price target on shares of Citigroup from $140.00 to $153.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Finally, Wall Street Zen downgraded Citigroup from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $145.22.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup’s recent quarterly results provide a fundamental cushion: earnings and revenue exceeded analyst expectations, with revenue up 14.5% year over year. SEC Probe Puts Wall Street Leverage Risk Back in Focus
• Neutral Sentiment: Citi analyst activity on Oracle, BMW and Forvia reflects the bank’s research and advisory business, but the recommendations are directed at those companies and have little direct impact on Citigroup’s equity value. Oracle Stock Gains Premarket
• Neutral Sentiment: Citigroup entities reported exiting substantial-holder status in Australia’s IDP Education and Healius. These appear to be portfolio or position disclosures rather than changes to Citi’s core business, making the immediate stock impact limited. Citi Group Entities Exit Substantial Holder Status in IDP Education
• Negative Sentiment: The SEC reportedly subpoenaed Citigroup, Goldman Sachs, JPMorgan and Bank of America over margin lending to hedge fund Situational Awareness, which suffered a 67% drawdown during an AI-stock sell-off. The probe puts leverage, collateral and counterparty-risk controls under scrutiny; potential fines, litigation costs or tighter lending requirements could weigh on Citi’s profitability, although the ultimate exposure remains unclear. SEC Probe Puts Wall Street Leverage Risk Back in Focus

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.