Citigroup Inc. $C Stock Position Raised by GAMMA Investing LLC

GAMMA Investing LLC increased its holdings in shares of Citigroup Inc. (NYSE:C) by 10.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,775 shares of the company’s stock after acquiring an additional 5,397 shares during the quarter. GAMMA Investing LLC’s holdings in Citigroup were worth $7,666,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Mcguire Capital Advisors Inc. bought a new position in shares of Citigroup during the fourth quarter valued at approximately $25,000. Whipplewood Advisors LLC acquired a new stake in shares of Citigroup during the 1st quarter worth approximately $25,000. Richards Merrill & Peterson Inc. bought a new stake in shares of Citigroup in the 4th quarter worth approximately $28,000. TD Capital Management LLC bought a new stake in shares of Citigroup in the 4th quarter worth approximately $28,000. Finally, IMG Wealth Management Inc. boosted its position in Citigroup by 197.6% during the 1st quarter. IMG Wealth Management Inc. now owns 244 shares of the company’s stock valued at $28,000 after purchasing an additional 162 shares during the period. Institutional investors own 71.72% of the company’s stock.

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Dividend appeal supports income-focused demand. Citigroup’s recently announced $0.67-per-share cash dividend, payable August 28, reinforces the stock’s appeal to dividend investors. The company’s valuation and improving earnings profile may further support the investment case. Why Citigroup Is a Great Dividend Stock Right Now
• Positive Sentiment: Investment-banking hiring signals confidence in deal activity. Citi hired Bank of America veteran Rohan Sen to lead technology-services coverage, part of an investment-banking recruiting push that could help expand advisory and capital-markets revenue if dealmaking remains strong. Citi Recruits Bank of America Veteran
• Positive Sentiment: American Airlines card enhancements could aid credit-card engagement. Citi and American Airlines expanded benefits on the premium AAdvantage Executive card, including airport-lounge access and accelerated loyalty rewards. The refresh may help retention, spending and fee-based card revenue. American Airlines and Citi Enhance Premium Travel Card
• Neutral Sentiment: $70 million Loomis Sayles settlement removes litigation uncertainty. The agreement resolves a lawsuit tied to trading losses. The settlement creates a direct cost for Citi, but ending the dispute limits future legal risk and makes the overall effect on the stock mixed. Citigroup Settles Trade-Loss Suit With Loomis Sayles
• Negative Sentiment: Greater exposure to leveraged-ETF risk management may concern investors. Reports highlighting Citi’s role in hedging leveraged-ETF exposures and broader market-plumbing discussions raise questions about trading, funding and financial-stability risks, though no specific loss was reported. Citigroup Takes a Bigger Role in Leveraged ETF Risk

Wall Street Analyst Weigh In

C has been the subject of several recent research reports. Keefe, Bruyette & Woods upped their price target on shares of Citigroup from $140.00 to $153.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. The Goldman Sachs Group upped their price target on shares of Citigroup from $137.00 to $151.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. Zacks Research upgraded shares of Citigroup from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Barclays raised their price objective on shares of Citigroup from $146.00 to $154.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Finally, Morgan Stanley boosted their target price on Citigroup from $154.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $145.22.

Citigroup Price Performance

Shares of Citigroup stock opened at $136.86 on Wednesday. Citigroup Inc. has a 52 week low of $89.68 and a 52 week high of $147.96. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71. The stock has a market cap of $233.42 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 0.60 and a beta of 1.12. The company’s 50-day moving average price is $136.19 and its two-hundred day moving average price is $124.51.

Citigroup (NYSE:C) last posted its quarterly earnings data 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 company had revenue of $24.75 billion during the quarter, compared to analyst estimates of $23.74 billion. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.96 EPS. As a group, sell-side analysts anticipate that Citigroup Inc. will post 11.2 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 3rd will be issued a dividend of $0.67 per share. The ex-dividend date is 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 announced that its Board of Directors has initiated a share repurchase program 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 programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 2,117 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $125.30, for a total value of $265,260.10. Following the transaction, the director owned 12,194 shares of the company’s stock, valued at approximately $1,527,908.20. This represents a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.11% of the company’s stock.

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.