Emerald Investment Advisers LLC Acquires 4,540 Shares of Citigroup Inc. $C

Emerald Investment Advisers LLC raised its stake in shares of Citigroup Inc. (NYSE:C) by 8.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,450 shares of the company’s stock after purchasing an additional 4,540 shares during the quarter. Emerald Investment Advisers LLC’s holdings in Citigroup were worth $8,461,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of C. Truist Financial Corp grew its position in Citigroup by 4.7% in the fourth quarter. Truist Financial Corp now owns 375,977 shares of the company’s stock valued at $43,873,000 after acquiring an additional 16,744 shares during the period. UniSuper Management Pty Ltd lifted its holdings in shares of Citigroup by 38.8% during the fourth quarter. UniSuper Management Pty Ltd now owns 1,306,851 shares of the company’s stock valued at $152,496,000 after acquiring an additional 365,041 shares during the period. Brighton Jones LLC lifted its holdings in shares of Citigroup by 166.9% during the fourth 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. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Citigroup by 4.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,819,471 shares of the company’s stock valued at $453,371,000 after purchasing an additional 145,610 shares in the last quarter. Finally, Highland Capital Management LLC boosted its stake in shares of Citigroup by 6.2% in the 4th quarter. Highland Capital Management LLC now owns 217,753 shares of the company’s stock valued at $25,410,000 after purchasing an additional 12,764 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Performance

Shares of NYSE:C opened at $131.46 on Friday. Citigroup Inc. has a twelve month low of $92.84 and a twelve month high of $147.96. The firm has a market cap of $224.22 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 0.58 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 business has a fifty day moving average of $137.20 and a 200-day moving average of $126.29.

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 during the quarter, compared to analysts’ expectations of $23.74 billion. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.96 earnings per share. On average, equities research analysts predict that Citigroup Inc. will post 11.2 EPS for the current fiscal year.

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

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Monday, August 3rd will be paid a $0.67 dividend. This is a boost from Citigroup’s previous quarterly dividend of $0.60. 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. Citigroup’s payout ratio is presently 28.94%.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Anthropic IPO role could boost fee revenue and deal visibility. Citigroup is reportedly being added to the group of leading banks guiding Anthropic toward a potential initial public offering. A role on a large, prominent AI-company listing could generate underwriting fees and strengthen Citi’s capital-markets franchise. Anthropic adds Citigroup to top banks guiding its IPO
• Positive Sentiment: Citigroup received strong growth-oriented stock-market recognition. A recent ranking identified Citigroup and Goldman Sachs among financial giants receiving “buy” growth grades, reinforcing the view that Citi’s earnings and business outlook compare favorably with peers. Citigroup and Goldman Sachs lead as most financial giants earn buy growth grades
• Neutral Sentiment: Citi remains constructive on broader equity markets. The bank maintained an overweight view on equities and said it would use any weakness before the U.S. midterm elections to add exposure. This may support confidence in Citi’s research and client-facing businesses, although it does not directly change the company’s earnings outlook. S&P 500 may pull back before midterms, but Citi says buy the dip
• Negative Sentiment: Credit-quality concerns remain a risk. Citigroup’s July card delinquencies edged higher, although lower charge-offs provided some offsetting relief. Investors may continue monitoring consumer credit trends for signs of pressure on asset quality and loan-loss provisions. C’s July Card Delinquencies Tick Up

Analyst Upgrades and Downgrades

C has been the subject of a number of recent analyst reports. Truist Financial dropped their target price on shares of Citigroup from $158.00 to $154.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. Wall Street Zen lowered shares of Citigroup from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. UBS Group decreased their price objective on shares of Citigroup from $150.00 to $142.00 and set a “neutral” rating on the stock in a research note on Monday, August 3rd. Argus set a $150.00 price objective on shares of Citigroup in a report on Wednesday, July 15th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citigroup in a report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $145.22.

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.