Citigroup Inc. $C Stock Position Raised by Generali Investments Management Co LLC

Generali Investments Management Co LLC lifted its holdings in shares of Citigroup Inc. (NYSE:C) by 104.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 29,538 shares of the company’s stock after purchasing an additional 15,057 shares during the quarter. Citigroup makes up 0.9% of Generali Investments Management Co LLC’s portfolio, making the stock its 21st largest holding. Generali Investments Management Co LLC’s holdings in Citigroup were worth $4,134,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Cora Capital Advisors LLC boosted its stake in Citigroup by 3.1% in the first quarter. Cora Capital Advisors LLC now owns 2,609 shares of the company’s stock valued at $296,000 after acquiring an additional 78 shares during the period. CFS Investment Advisory Services LLC raised its position in shares of Citigroup by 0.4% during the 1st quarter. CFS Investment Advisory Services LLC now owns 20,596 shares of the company’s stock worth $2,336,000 after purchasing an additional 79 shares during the period. Verus Capital Partners LLC raised its position in shares of Citigroup by 3.1% during the 4th quarter. Verus Capital Partners LLC now owns 2,748 shares of the company’s stock worth $321,000 after purchasing an additional 82 shares during the period. Somerset Trust Co lifted its holdings in shares of Citigroup by 0.6% in the 2nd quarter. Somerset Trust Co now owns 14,955 shares of the company’s stock worth $2,093,000 after purchasing an additional 82 shares during the last quarter. Finally, CFO Capital Management LLC lifted its holdings in shares of Citigroup by 1.5% in the 1st quarter. CFO Capital Management LLC now owns 5,495 shares of the company’s stock worth $590,000 after purchasing an additional 83 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Analyst Ratings Changes

C has been the subject of a number of recent research reports. Zacks Research upgraded Citigroup from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Morgan Stanley raised their target price on Citigroup from $154.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Truist Financial cut their target price on Citigroup from $158.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, July 15th. Piper Sandler reissued an “overweight” rating and set a $145.00 price target (up from $125.00) on shares of Citigroup in a report on Wednesday, April 15th. Finally, Barclays upped their price target on shares of Citigroup from $146.00 to $154.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Two investment 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 company’s stock. Based on data from MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and an average target price of $145.22.

Key Headlines Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup appointed Jean-Baptiste Charlet, previously Morgan Stanley’s head of France, to lead its French operations. The hire may strengthen Citi’s investment-banking and commercial-banking presence in a key European market, although the near-term financial impact is likely limited. Citigroup poaches Charlet from Morgan Stanley to head French arm
• Neutral Sentiment: Citigroup-related entities exited substantial-holder status in Vulcan Energy Resources. This appears to be a portfolio or ownership disclosure rather than a change to Citi’s core operations, and it is unlikely to have a meaningful effect on C shares. Citigroup Group Entities Exit Substantial Holder Status in Vulcan Energy Resources
• Neutral Sentiment: A Citigroup analyst lowered the price target on Micron Technology while retaining a Buy rating, citing slowing memory-price growth and Chinese capacity risks. The report affects Micron directly, but has no immediate earnings implication for Citigroup beyond its role as the research provider. Micron’s Memory Boom Is Heading For A Peak, Analyst Warns

Citigroup Price Performance

Shares of NYSE C opened at $135.15 on Tuesday. The stock has a market cap of $230.51 billion, a P/E ratio of 14.60, a P/E/G ratio of 0.61 and a beta of 1.12. The firm’s 50-day simple moving average is $136.93 and its 200 day simple moving average is $125.03. Citigroup Inc. has a fifty-two week low of $90.68 and a fifty-two week high of $147.96. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.71.

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

Citigroup announced that its Board of Directors has approved a stock buyback program on Thursday, May 7th that permits the company to buyback $30.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 13.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Citigroup Increases Dividend

The business also recently declared 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 of this dividend is Monday, August 3rd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.0%. This is an increase from Citigroup’s previous quarterly dividend of $0.60. Citigroup’s dividend payout ratio (DPR) is currently 28.94%.

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.