Empirical Asset Management LLC Purchases 5,793 Shares of Citigroup Inc. $C

Empirical Asset Management LLC grew its position in Citigroup Inc. (NYSE:C) by 288.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 7,798 shares of the company’s stock after buying an additional 5,793 shares during the period. Empirical Asset Management LLC’s holdings in Citigroup were worth $1,091,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Whipplewood Advisors LLC bought a new stake in shares of Citigroup during the first quarter valued at approximately $25,000. Mcguire Capital Advisors Inc. bought a new position in Citigroup in the 4th quarter valued at approximately $25,000. Paladin Partners LLC purchased a new stake in Citigroup during the 2nd quarter valued at $27,000. Richards Merrill & Peterson Inc. purchased a new position in shares of Citigroup in the fourth quarter worth $28,000. Finally, TD Capital Management LLC purchased a new position in shares of Citigroup in the fourth quarter worth $28,000. Institutional investors own 71.72% of the company’s stock.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup plans to launch institutional Bitcoin custody services later this year, allowing clients to hold digital and traditional assets under one framework. The offering could create new fee revenue, strengthen Citi’s institutional-asset franchise and help the bank compete with major Wall Street rivals in digital-asset infrastructure. Bitcoin Custody for Institutional Clients Is Coming to Citi Later This Year
• Positive Sentiment: Citi also introduced its Custody+ platform, featuring continuous settlement, artificial-intelligence tools and an in-house tokenization rail through Citi Token Services. The platform supports the bank’s strategy of modernizing custody and transaction services, although the immediate earnings contribution remains uncertain. Citigroup Rolls Out Custody+ Platform With Bitcoin Services and Continuous Settlement
• Neutral Sentiment: Citi’s research team said prediction markets point toward a divided U.S. government after the midterm elections and outlined potential trading implications. The analysis may influence views on regulation, fiscal policy and bank-sector conditions, but it does not represent a direct change to Citigroup’s fundamentals. Prediction Markets See a Divided Government After Midterm Elections
• Negative Sentiment: Citigroup and five other banks agreed to an $86.4 million settlement resolving allegations of manipulation in Mexico’s bond market. Citi’s share of the payment was not specified, but the resolution creates a modest cost and reinforces regulatory and litigation risks for the bank. Major US Banks Agree to $86.4M Settlement in Mexican Bond-Rigging Case

Citigroup Stock Down 0.6%

Shares of C stock opened at $137.66 on Wednesday. The company has a current ratio of 0.99, a quick 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 stock has a market cap of $234.79 billion, a P/E ratio of 14.87, a P/E/G ratio of 0.63 and a beta of 1.12. The company has a 50 day simple moving average of $137.54 and a two-hundred day simple moving average of $126.02.

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

Citigroup announced that its Board of Directors has approved a share repurchase program 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 programs are usually an indication that the company’s leadership believes its stock is undervalued.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 3rd will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 1.9%. This is a boost from Citigroup’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, August 3rd. Citigroup’s dividend payout ratio (DPR) is presently 28.94%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on C shares. Morgan Stanley increased their price objective on Citigroup from $154.00 to $164.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. Zacks Research raised Citigroup from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Royal Bank Of Canada restated an “outperform” rating and set a $150.00 target price on shares of Citigroup in a research note on Wednesday, July 15th. Wall Street Zen downgraded shares of Citigroup from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Wells Fargo & Company lifted their price target on shares of Citigroup from $162.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, June 18th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.22.

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.