Compass Financial Management LLC Takes $898,000 Position in Citigroup Inc. $C

Compass Financial Management LLC acquired a new position in shares of Citigroup Inc. (NYSE:C) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,531 shares of the company’s stock, valued at approximately $898,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Citigroup by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company’s stock worth $19,048,467,000 after buying an additional 4,938,923 shares in the last quarter. Geode Capital Management LLC grew its position in Citigroup by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 43,252,372 shares of the company’s stock valued at $5,036,712,000 after acquiring an additional 189,548 shares during the period. Franklin Resources Inc. grew its position in Citigroup by 4.0% in the fourth quarter. Franklin Resources Inc. now owns 34,196,783 shares of the company’s stock valued at $3,990,422,000 after acquiring an additional 1,326,224 shares during the period. Fisher Asset Management LLC raised its stake in Citigroup by 2.6% during the fourth quarter. Fisher Asset Management LLC now owns 33,887,285 shares of the company’s stock worth $3,954,307,000 after acquiring an additional 846,772 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Citigroup by 2.8% during the first quarter. Bank of America Corp DE now owns 26,869,012 shares of the company’s stock valued at $3,047,215,000 after acquiring an additional 728,043 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Down 0.1%

Shares of NYSE:C opened at $131.46 on Monday. Citigroup Inc. has a 12 month low of $92.84 and a 12 month high of $147.96. The firm has a market cap of $224.22 billion, a P/E ratio of 14.20, a P/E/G ratio of 0.59 and a beta of 1.12. 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’s 50-day moving average price is $137.20 and its two-hundred day moving average price is $126.36.

Citigroup (NYSE:C) last released its quarterly 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 business had revenue of $24.77 billion for the quarter, compared to analysts’ expectations of $23.74 billion. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. Citigroup’s revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.96 earnings per share. As a group, research analysts forecast that Citigroup Inc. will post 11.2 EPS for the current fiscal year.

Citigroup declared that its board has initiated a share repurchase plan on Thursday, May 7th that allows the company to buyback $30.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 13.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 3rd will be issued a $0.67 dividend. This is a positive change from Citigroup’s previous quarterly dividend of $0.60. This represents a $2.68 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, August 3rd. Citigroup’s dividend payout ratio (DPR) is 28.94%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on C. Keefe, Bruyette & Woods boosted their target price on shares of Citigroup from $140.00 to $153.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Wall Street Zen cut shares of Citigroup from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Argus set a $150.00 price target on shares of Citigroup in a report on Wednesday, July 15th. Oppenheimer lowered shares of Citigroup from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Finally, Morgan Stanley upped their price objective on shares of Citigroup from $154.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and an average price target of $145.22.

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

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.