Citigroup Inc. $C Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its holdings in shares of Citigroup Inc. (NYSE:C) by 2.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 453,950 shares of the company’s stock after buying an additional 9,948 shares during the period. PNC Financial Services Group Inc.’s holdings in Citigroup were worth $51,483,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of C. Whipplewood Advisors LLC acquired a new stake in shares of Citigroup during the 1st quarter worth approximately $25,000. Mcguire Capital Advisors Inc. bought a new position in Citigroup during the 4th quarter worth $25,000. Richards Merrill & Peterson Inc. bought a new position in Citigroup during the 4th quarter worth $28,000. TD Capital Management LLC acquired a new stake in Citigroup in the fourth quarter worth $28,000. Finally, Scarborough Advisors LLC bought a new stake in Citigroup in the first quarter valued at $29,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Insider Activity at Citigroup

In other news, Director John Cunningham Dugan sold 2,117 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $125.30, for a total transaction of $265,260.10. Following the completion of the sale, the director directly owned 12,194 shares of the company’s stock, valued at $1,527,908.20. This represents a 14.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.11% of the stock is currently owned by corporate insiders.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup priced an $817 million multifamily CMBS deal, its largest post-GFC multifamily-only securitization, underscoring continued strength in Citi’s commercial real estate capital markets franchise and demand for apartment-backed debt. Citigroup (C) Sets Post GFC Record With $817 Million Multifamily CMBS Deal
• Positive Sentiment: Several brokerages remain constructive on Citigroup after its strong second quarter, with analysts pointing to solid earnings, improving outlooks and rising estimates for the bank. Buy 3 Top-Ranked Big Investment Banks Amid Solid Q2 Earnings & Outlook
• Positive Sentiment: Citigroup raised its quarterly dividend to $0.67 per share from $0.60, signaling confidence in capital strength and offering a more attractive income profile for shareholders. Dividend announcement
• Neutral Sentiment: Citigroup was also in the news for hiring five U.S. tech investment banking executives, a move that could support franchise growth over time but is unlikely to move the stock immediately. Citigroup hires five US tech investment banking executives from rivals
• Negative Sentiment: Citi’s downgrade of agilon health to Sell shows the bank is still making cautious calls on certain sectors, but this is more relevant to agilon than to Citigroup’s own earnings outlook. Why agilon health (AGL) Shares Are Falling Today

Analyst Ratings Changes

Several brokerages have recently issued reports on C. Wall Street Zen raised shares of Citigroup from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Wells Fargo & Company lifted 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. Oppenheimer lowered shares of Citigroup from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. Royal Bank Of Canada restated an “outperform” rating and issued a $150.00 price target on shares of Citigroup in a research note on Wednesday, July 15th. Finally, Bank of America increased their price objective on Citigroup from $170.00 to $176.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.67.

Citigroup Trading Down 0.2%

Citigroup stock opened at $131.94 on Friday. 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 firm has a market cap of $225.03 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 0.59 and a beta of 1.11. Citigroup Inc. has a 1 year low of $87.94 and a 1 year high of $147.96. The firm’s 50 day moving average price is $134.84 and its two-hundred day moving average price is $123.76.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, July 14th. The company reported $3.15 EPS for the quarter, beating analysts’ consensus estimates of $2.74 by $0.41. The company had revenue of $24.75 billion during the quarter, compared to the consensus estimate of $23.74 billion. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.96 EPS. On average, research analysts predict that Citigroup Inc. will post 11.22 EPS for the current fiscal year.

Citigroup announced that its board has approved a share repurchase plan on Thursday, May 7th that permits the company to buyback $30.00 billion in shares. This buyback authorization permits the company to purchase up to 13.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, August 3rd will be given 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 is Monday, August 3rd. Citigroup’s payout ratio is presently 25.92%.

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.