Royal London Asset Management Ltd. Has $120.06 Million Position in Citigroup Inc. $C

Royal London Asset Management Ltd. lessened its stake in shares of Citigroup Inc. (NYSE:C) by 0.7% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 857,832 shares of the company’s stock after selling 6,023 shares during the quarter. Royal London Asset Management Ltd. owned about 0.05% of Citigroup worth $120,062,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Toth Financial Advisory Corp grew its stake in Citigroup by 1,166.6% in the 2nd quarter. Toth Financial Advisory Corp now owns 9,056 shares of the company’s stock valued at $1,267,000 after buying an additional 8,341 shares during the last quarter. Mufg Securities Americas Inc. lifted its position in Citigroup by 7.3% during the second quarter. Mufg Securities Americas Inc. now owns 56,399 shares of the company’s stock worth $7,894,000 after acquiring an additional 3,824 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV boosted its holdings in shares of Citigroup by 5.7% during the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 7,863 shares of the company’s stock worth $1,101,000 after acquiring an additional 423 shares during the period. Braun Stacey Associates Inc. bought a new stake in shares of Citigroup during the second quarter worth approximately $33,176,000. Finally, Navellier & Associates Inc. grew its position in shares of Citigroup by 38.7% in the second quarter. Navellier & Associates Inc. now owns 11,757 shares of the company’s stock valued at $1,646,000 after purchasing an additional 3,278 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on C. Zacks Research upgraded Citigroup from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Bank of America upped their price objective on Citigroup from $170.00 to $176.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Wells Fargo & Company boosted their target price 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. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $150.00 price target on shares of Citigroup in a research report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. raised their price target on shares of Citigroup from $135.50 to $149.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Two 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 company’s stock. According to MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and an average target price of $145.22.

Citigroup Stock Up 0.1%

C stock opened at $132.77 on Friday. Citigroup Inc. has a 52 week low of $92.96 and a 52 week high of $147.96. The business has a 50-day simple moving average of $136.20 and a 200 day simple moving average of $126.81. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.71. The company has a market cap of $226.45 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 0.60 and a beta of 1.12.

Citigroup (NYSE:C) last released its earnings results on Tuesday, July 14th. The company reported $3.15 EPS for the quarter, beating the consensus estimate of $2.74 by $0.41. The firm 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 business’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the firm earned $1.96 EPS. Sell-side analysts anticipate that Citigroup Inc. will post 11.2 EPS for the current fiscal year.

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 paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Monday, August 3rd. This is a positive change from Citigroup’s previous quarterly dividend of $0.60. Citigroup’s dividend payout ratio 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 buyback $30.00 billion in shares. This buyback authorization allows the company to reacquire up to 13.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Key Headlines Impacting Citigroup

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.