Citigroup Inc. $C Shares Sold by Wasatch Advisors LP

Wasatch Advisors LP lowered its stake in Citigroup Inc. (NYSE:C) by 19.6% during the second quarter, Holdings Channel.com reports. The institutional investor owned 45,570 shares of the company’s stock after selling 11,113 shares during the period. Wasatch Advisors LP’s holdings in Citigroup were worth $6,378,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Whipplewood Advisors LLC acquired a new position in shares of Citigroup in the first quarter worth $25,000. Mcguire Capital Advisors Inc. purchased a new stake in shares of Citigroup in the fourth quarter valued at $25,000. Richards Merrill & Peterson Inc. acquired a new stake in shares of Citigroup during the fourth quarter valued at $28,000. TD Capital Management LLC acquired a new stake in shares of Citigroup during the fourth quarter valued at $28,000. Finally, IMG Wealth Management Inc. increased its position in Citigroup by 197.6% during the 1st quarter. IMG Wealth Management Inc. now owns 244 shares of the company’s stock worth $28,000 after purchasing an additional 162 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Performance

NYSE C opened at $137.56 on Thursday. The business’s 50-day moving average price is $137.17 and its 200 day moving average price is $125.34. Citigroup Inc. has a twelve month low of $90.68 and a twelve month high of $147.96. The company has a market capitalization of $234.62 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 0.61 and a beta of 1.12. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 10.15% and a net margin of 10.23%.The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period last year, the company earned $1.96 EPS. On average, research analysts predict that Citigroup Inc. will post 11.2 earnings per share for the current year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 3rd will be given a $0.67 dividend. This is a boost from Citigroup’s previous quarterly dividend of $0.60. This represents a $2.68 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, August 3rd. Citigroup’s dividend payout ratio is 28.94%.

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

Wall Street Analysts Forecast Growth

C has been the subject of several analyst reports. Bank of America boosted their target price on shares of Citigroup from $170.00 to $176.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Zacks Research raised shares of Citigroup from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Barclays lifted their price target on shares of Citigroup from $146.00 to $154.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Evercore set a $143.00 price objective on shares of Citigroup in a research note on Monday, July 6th. Finally, Wall Street Zen downgraded shares of Citigroup from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Two equities research 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. Based on data from MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.22.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Healthcare banking expansion: Citigroup appointed new leadership covering biotechnology, medical technology, biopharmaceuticals and acute care. The changes position the bank to capture increased healthcare mergers-and-acquisitions and capital-markets activity, potentially supporting fee revenue. Citi Taps New Healthcare Banking Leadership as Dealmaking Heats Up
• Positive Sentiment: Strong operating momentum: Citigroup’s latest quarterly results exceeded expectations, with earnings per share of $3.15 versus a $2.74 consensus estimate and revenue of $24.77 billion versus $23.74 billion expected. Revenue rose 14.5% year over year, reinforcing the stock’s positive earnings momentum.
• Positive Sentiment: Advisory and financing activity: Citi led a $414 million financing tranche for restaurant-commerce company inKind, bringing the company’s total capital raised above $1.2 billion. The transaction highlights Citi’s ability to win large private-company financing mandates and generate investment-banking fees. inKind Secures $414 Million in Financing Led by Citi and Cross River
• Neutral Sentiment: New bond offerings: Citigroup announced fixed-income offerings, including 5.05% notes due 2030 and zero-coupon notes due 2056. The deals provide evidence of continued market access and funding flexibility, although investors may monitor borrowing costs and the effect of additional debt on margins and leverage. Is Citigroup Undervalued After Its Latest Bond Offerings?
• Neutral Sentiment: Citi research remains active: Analysts reiterated a bullish outlook for silver and raised their MongoDB price target, but these calls primarily affect Citi’s research franchise and do not materially change Citigroup’s own earnings outlook. Silver Could Surge to $90, Citi Says

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.