Diamond Hill Capital Management LLC Investment Advisor Invests $52.94 Million in Citigroup Inc. $C

Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Citigroup Inc. (NYSE:C) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 378,238 shares of the company’s stock, valued at approximately $52,938,000.

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

Analyst Upgrades and Downgrades

C has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on Citigroup from $135.50 to $149.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. UBS Group lowered their price target on Citigroup from $150.00 to $142.00 and set a “neutral” rating on the stock in a research report on Monday, August 3rd. Wall Street Zen cut Citigroup from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Wells Fargo & Company increased their price objective on Citigroup from $162.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, June 18th. Finally, Morgan Stanley upped their price target 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. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $145.22.

Citigroup Stock Performance

C opened at $139.21 on Monday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.71. Citigroup Inc. has a 12-month low of $90.68 and a 12-month high of $147.96. The business has a 50 day moving average of $137.38 and a 200-day moving average of $125.69. The stock has a market cap of $237.43 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 0.63 and a beta of 1.12.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.74 by $0.41. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The business had revenue of $24.77 billion for the quarter, compared to analyst estimates of $23.74 billion. During the same period in the previous year, the firm earned $1.96 EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. On average, equities research analysts expect that Citigroup Inc. will post 11.2 earnings per share for the current year.

Citigroup Increases Dividend

The business 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 dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 1.9%. This is a positive change from Citigroup’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, August 3rd. Citigroup’s dividend payout ratio (DPR) is presently 28.94%.

Citigroup announced that its board has initiated a share repurchase program on Thursday, May 7th that authorizes the company to buyback $30.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 13.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Key Headlines Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Kard acquisition strengthens U.S. cards strategy: Citi agreed to acquire Kard Financial, a commerce-media and rewards platform that connects banks, fintechs and merchants. The deal is intended to improve personalized offers, customer engagement and merchant-funded rewards, potentially supporting growth and profitability in Citi’s U.S. Consumer Cards business. Terms were not disclosed. Citi Plans to Acquire Kard to Deliver More Personalized Rewards
• Positive Sentiment: New financing activity highlights institutional banking strength: Citibank acted as lender and agent in an approximately $4.6 billion syndicated loan supporting a Japan-U.S. strategic investment initiative. The transaction reinforces Citi’s cross-border corporate and government-related financing capabilities and could generate additional fees and client relationships. Citigroup Participates in Financing for Japan-U.S. Strategic Investment Initiative
• Positive Sentiment: Large asset-servicing mandate adds recurring revenue potential: Citi Investor Services won a full middle-office mandate from Aegon Asset Management covering $380 billion in assets under management, expanding an existing 20-year relationship. The award supports the growth of Citi’s fee-based services and institutional franchise. Citi Investor Services Wins US$380 Billion Middle Office Mandate from Aegon Asset Management
• Neutral Sentiment: Management supports clearer crypto rules: CEO Jane Fraser called a strong version of the proposed CLARITY Act “excellent for the system,” though unresolved issues remain for banks. Clearer regulation could eventually expand institutional digital-asset activity, but the near-term earnings impact is uncertain. Bitcoin to $1M If CLARITY Act Passes? Citi CEO Discusses the CLARITY Act
• Negative Sentiment: Valuation and macro risks could limit upside: Citi’s stock has advanced substantially over the past year, prompting investors to question how much of the turnaround is already reflected in the price. The bank also noted softer household and business borrowing in China, while its commodities team is cautious about chasing rallies in gold—factors that could temper market enthusiasm. Is Citigroup a Solid Investment Option After a 51.2% Jump in a Year?

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.