Citigroup Inc. $C Shares Sold by Davidson Investment Advisors

Davidson Investment Advisors cut its stake in Citigroup Inc. (NYSE:C) by 5.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 300,617 shares of the company’s stock after selling 16,922 shares during the period. Citigroup accounts for 1.7% of Davidson Investment Advisors’ holdings, making the stock its 12th biggest holding. Davidson Investment Advisors’ holdings in Citigroup were worth $42,074,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of C. Cora Capital Advisors LLC lifted its position in Citigroup by 3.1% in the 1st quarter. Cora Capital Advisors LLC now owns 2,609 shares of the company’s stock valued at $296,000 after purchasing an additional 78 shares during the last quarter. CFS Investment Advisory Services LLC increased its stake in shares of Citigroup by 0.4% in the first quarter. CFS Investment Advisory Services LLC now owns 20,596 shares of the company’s stock valued at $2,336,000 after purchasing an additional 79 shares during the period. American Trust increased its stake in shares of Citigroup by 3.6% in the second quarter. American Trust now owns 2,331 shares of the company’s stock valued at $326,000 after purchasing an additional 80 shares during the period. Invst LLC raised its holdings in shares of Citigroup by 0.8% during the second quarter. Invst LLC now owns 9,601 shares of the company’s stock valued at $1,344,000 after buying an additional 80 shares during the last quarter. Finally, Verus Capital Partners LLC boosted its position in shares of Citigroup by 3.1% during the fourth quarter. Verus Capital Partners LLC now owns 2,748 shares of the company’s stock worth $321,000 after buying an additional 82 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup’s recent quarterly results provide a fundamental cushion: earnings and revenue exceeded analyst expectations, with revenue up 14.5% year over year. SEC Probe Puts Wall Street Leverage Risk Back in Focus
• Neutral Sentiment: Citi analyst activity on Oracle, BMW and Forvia reflects the bank’s research and advisory business, but the recommendations are directed at those companies and have little direct impact on Citigroup’s equity value. Oracle Stock Gains Premarket
• Neutral Sentiment: Citigroup entities reported exiting substantial-holder status in Australia’s IDP Education and Healius. These appear to be portfolio or position disclosures rather than changes to Citi’s core business, making the immediate stock impact limited. Citi Group Entities Exit Substantial Holder Status in IDP Education
• Negative Sentiment: The SEC reportedly subpoenaed Citigroup, Goldman Sachs, JPMorgan and Bank of America over margin lending to hedge fund Situational Awareness, which suffered a 67% drawdown during an AI-stock sell-off. The probe puts leverage, collateral and counterparty-risk controls under scrutiny; potential fines, litigation costs or tighter lending requirements could weigh on Citi’s profitability, although the ultimate exposure remains unclear. SEC Probe Puts Wall Street Leverage Risk Back in Focus

Analysts Set New Price Targets

A number of brokerages recently issued reports on C. Argus set a $150.00 price objective on Citigroup in a report on Wednesday, July 15th. Zacks Research upgraded Citigroup from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Weiss Ratings raised Citigroup from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, August 24th. UBS Group lowered their price target on Citigroup from $150.00 to $142.00 and set a “neutral” rating on the stock in a report on Monday, August 3rd. Finally, Bank of America lifted their price objective 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. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $145.22.

Citigroup Trading Up 0.1%

Shares of Citigroup stock opened at $132.77 on Friday. The business has a fifty day simple moving average of $136.20 and a 200-day simple moving average of $126.81. Citigroup Inc. has a fifty-two week low of $92.96 and a fifty-two week high of $147.96. The firm has a market cap of $226.45 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 0.60 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.

Citigroup (NYSE:C) last released its 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. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The firm 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 company earned $1.96 earnings per share. Citigroup’s revenue was up 14.5% compared to the same quarter last year. On average, equities analysts forecast that Citigroup Inc. will post 11.21 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 3rd were issued a dividend of $0.67 per share. The ex-dividend date was Monday, August 3rd. This is a positive change from Citigroup’s previous quarterly dividend of $0.60. This represents a $2.68 dividend on an annualized basis and a yield of 2.0%. Citigroup’s payout ratio is 28.94%.

Citigroup declared that its board has authorized a share buyback plan on Thursday, May 7th that authorizes the company to repurchase $30.00 billion in shares. This repurchase authorization authorizes the company to buy up to 13.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

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.