Healthcare of Ontario Pension Plan Trust Fund Acquires 713,128 Shares of Citigroup Inc. $C

Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Citigroup Inc. (NYSE:C) by 267.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 979,862 shares of the company’s stock after purchasing an additional 713,128 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Citigroup were worth $111,126,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC increased its holdings in shares of Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after acquiring an additional 12,499 shares during the period. Sivia Capital Partners LLC lifted its stake in shares of Citigroup by 20.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 9,805 shares of the company’s stock worth $835,000 after purchasing an additional 1,669 shares during the last quarter. United Bank purchased a new stake in shares of Citigroup during the 2nd quarter worth $972,000. Osterweis Capital Management Inc. boosted its position in Citigroup by 3,016.7% during the second quarter. Osterweis Capital Management Inc. now owns 935 shares of the company’s stock valued at $80,000 after purchasing an additional 905 shares in the last quarter. Finally, HUB Investment Partners LLC boosted 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 purchasing an additional 3,238 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Price Performance

Shares of C stock opened at $131.95 on Friday. Citigroup Inc. has a fifty-two week low of $87.94 and a fifty-two week high of $147.96. The firm has a market capitalization of $225.06 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 0.59 and a beta of 1.11. 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’s 50-day simple moving average is $135.01 and its 200-day simple moving average is $123.82.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, July 14th. The company reported $3.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.74 by $0.41. The firm had revenue of $24.75 billion for the quarter, compared to the consensus estimate of $23.74 billion. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.96 earnings per share. As a group, equities analysts forecast that Citigroup Inc. will post 11.2 earnings per share for the current fiscal year.

Citigroup declared that its board has initiated a stock repurchase plan on Thursday, May 7th that permits the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 13.7% of its shares through open market purchases. Shares repurchase plans are often 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. Shareholders of record on Monday, August 3rd will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date 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 currently 28.94%.

Key Headlines Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi analysts said the recent pullback in semiconductor stocks looks like a buying opportunity, which may support broader risk appetite and help sentiment around markets that Citigroup covers through its trading and research franchises. Pullback in chip stocks is a buying opportunity, Citi says
• Positive Sentiment: Citigroup was highlighted in a new CMBS deal update, after pricing an $817 million multifamily conduit transaction, reinforcing Citi’s role as an active lender and securitization player in U.S. commercial real estate. Citigroup (C) Sets Post GFC Record With $817 Million Multifamily CMBS Deal
• Neutral Sentiment: Citigroup reportedly closed a bullish South African rand trade after the currency looked “fragile” following South Africa’s surprise rate hold. This is more of a trading update than a major earnings driver, but it shows Citi is actively adjusting macro positions. Citi Drops Rand Bet After South Africa’s Surprise Rate Hold
• Neutral Sentiment: Separately, a headline noting Citi’s bearish view on the “Magnificent Seven” may reflect the bank’s broader market outlook, but it does not directly change Citigroup’s fundamentals. Wall Street Bank Just Declared the Magnificent 7 as “Dead” — What Happens Next?

Insider Transactions at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 2,117 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $125.30, for a total value of $265,260.10. Following the completion of the transaction, the director owned 12,194 shares of the company’s stock, valued at approximately $1,527,908.20. This trade represents a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on C shares. The Goldman Sachs Group boosted their target price on shares of Citigroup from $137.00 to $151.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Oppenheimer cut shares of Citigroup from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 30th. Barclays lifted their price objective 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. Zacks Research upgraded shares of Citigroup from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Finally, Bank of America increased their target price on shares of Citigroup from $170.00 to $176.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. 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. According to data from MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and an average price target of $145.67.

About Citigroup

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.