Citigroup Inc. $C Shares Sold by Osmosis Investment Management UK Ltd

Osmosis Investment Management UK Ltd reduced its stake in shares of Citigroup Inc. (NYSE:C) by 51.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,403 shares of the company’s stock after selling 60,873 shares during the period. Osmosis Investment Management UK Ltd’s holdings in Citigroup were worth $8,034,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Paladin Partners LLC acquired a new position in shares of Citigroup in the 2nd quarter valued at $27,000. Mcguire Capital Advisors Inc. purchased a new position in shares of Citigroup in the 4th quarter worth $25,000. Whipplewood Advisors LLC acquired a new position in Citigroup in the first quarter valued at $25,000. TD Capital Management LLC acquired a new position in Citigroup in the fourth quarter valued at $28,000. Finally, IMG Wealth Management Inc. grew its position in Citigroup by 197.6% during the first quarter. IMG Wealth Management Inc. now owns 244 shares of the company’s stock valued at $28,000 after acquiring an additional 162 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Evercore set a $143.00 price target on Citigroup in a research note on Monday, July 6th. Royal Bank Of Canada reiterated an “outperform” rating and set a $150.00 target price on shares of Citigroup in a report on Wednesday, July 15th. Morgan Stanley increased their target price on shares of Citigroup from $154.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Oppenheimer lowered shares of Citigroup from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 30th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Citigroup from $140.00 to $153.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Two investment 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $145.22.

Citigroup Stock Performance

Citigroup stock opened at $131.46 on Monday. The stock’s 50 day moving average price is $137.20 and its 200 day moving average price is $126.36. Citigroup Inc. has a one year low of $92.84 and a one year high of $147.96. 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 capitalization of $224.22 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 0.59 and a beta of 1.12.

Citigroup (NYSE:C) last announced its earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share for the quarter, beating the consensus estimate of $2.74 by $0.41. The business had revenue of $24.77 billion during 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 business’s quarterly 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, sell-side analysts expect that Citigroup Inc. will post 11.2 EPS for the current fiscal year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Monday, August 3rd will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, August 3rd. This is an increase from Citigroup’s previous quarterly dividend of $0.60. Citigroup’s dividend payout ratio is currently 28.94%.

Citigroup announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 7th that allows the company to buyback $30.00 billion in shares. This buyback authorization allows the company to reacquire up to 13.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Key Citigroup News

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

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.