Citigroup Inc. $C Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA reduced its stake in Citigroup Inc. (NYSE:C) by 2.4% during the 2nd quarter, Holdings Channel reports. The fund owned 2,333,600 shares of the company’s stock after selling 56,900 shares during the period. Primecap Management Co. CA’s holdings in Citigroup were worth $326,611,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC increased its holdings in shares of Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after buying an additional 12,499 shares during the last quarter. Sivia Capital Partners LLC raised its position in shares of Citigroup by 20.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 9,805 shares of the company’s stock worth $835,000 after buying an additional 1,669 shares during the period. United Bank acquired a new position in Citigroup in the second quarter valued at $972,000. Osterweis Capital Management Inc. boosted its holdings in Citigroup by 3,016.7% in the second quarter. Osterweis Capital Management Inc. now owns 935 shares of the company’s stock valued at $80,000 after acquiring an additional 905 shares during the last quarter. Finally, HUB Investment Partners LLC grew its position in Citigroup by 26.9% during the second quarter. HUB Investment Partners LLC now owns 15,287 shares of the company’s stock valued at $1,301,000 after acquiring an additional 3,238 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup experienced approximately $223 million in after-hours block trading, along with unusual options activity and bullish call sweeps. The activity suggests increased institutional interest and may have supported buying momentum. Citigroup Sees Unusual Options Activity and $223 Million Block Trade
• Positive Sentiment: Citigroup and India’s Axis Bank are partnering to capture more nonresident Indian deposits and increase dollar inflows. The initiative could strengthen Citi’s cross-border banking activity and support deposit growth. Citigroup, Axis Bank Partner to Boost NRI Dollar Inflows
• Positive Sentiment: Major banks including Citi are committing billions to affordable housing and expanded U.S. housing supply. The effort could create lending and advisory opportunities while improving Citi’s public-policy and community profile. Big Banks Commit Billions to Boost US Housing Supply
• Neutral Sentiment: Recent coverage noted that Citigroup outperformed the broader market during the latest session, but the article primarily reviewed past performance rather than identifying a new earnings or business catalyst. Citigroup Exceeds Market Returns
• Neutral Sentiment: Citi reported sustainable-finance commitments of $647.2 billion since 2020 and established new 2030 goals. The update may benefit its long-term franchise and relationships, but has limited immediate impact on earnings. Citi Reports Sustainable Finance Progress
• Negative Sentiment: Analyst commentary argues that Citigroup has improved but that much of its valuation upside may already be reflected in the stock, potentially limiting further gains. Citigroup Has Improved, But Upside Is Limited
• Negative Sentiment: A Goldman Sachs-versus-Citigroup comparison highlighted Goldman’s stronger earnings momentum, fee-based strategy and growth visibility, despite Goldman’s higher valuation. This may encourage investors seeking growth to favor GS over C. Goldman Versus Citigroup

Analyst Ratings Changes

Several analysts have issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Citigroup from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, June 18th. Truist Financial cut their target price on shares of Citigroup from $158.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, July 15th. Bank of America upped their price objective on Citigroup from $170.00 to $176.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $150.00 target price on shares of Citigroup in a report on Wednesday, July 15th. Finally, Oppenheimer lowered 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 issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $145.22.

Citigroup Price Performance

Shares of NYSE:C opened at $133.40 on Wednesday. The company has a market capitalization of $227.52 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 0.59 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 stock has a fifty day moving average of $136.82 and a 200-day moving average of $126.57. Citigroup Inc. has a one year low of $92.96 and a one year high of $147.96.

Citigroup (NYSE:C) last released its quarterly 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 business had revenue of $24.77 billion for 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 firm’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.96 earnings per share. As a group, equities analysts anticipate that Citigroup Inc. will post 11.2 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 3rd will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, August 3rd. This is a positive change from Citigroup’s previous quarterly dividend of $0.60. Citigroup’s dividend payout ratio (DPR) is 28.94%.

Citigroup declared that its Board of Directors has approved a stock buyback program on Thursday, May 7th that allows the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 13.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

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.