Public Employees Retirement System of Ohio Cuts Stock Position in Citigroup Inc. $C

Public Employees Retirement System of Ohio decreased its holdings in shares of Citigroup Inc. (NYSE:C) by 2.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 732,846 shares of the company’s stock after selling 19,029 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Citigroup were worth $83,112,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in C. Cora Capital Advisors LLC increased its holdings 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 in the last quarter. CFS Investment Advisory Services LLC lifted its stake in shares of Citigroup by 0.4% during the first quarter. CFS Investment Advisory Services LLC now owns 20,596 shares of the company’s stock worth $2,336,000 after purchasing an additional 79 shares in the last quarter. Verus Capital Partners LLC boosted its position in shares of Citigroup by 3.1% in 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. CFO Capital Management LLC boosted its position in shares of Citigroup by 1.5% in the first quarter. CFO Capital Management LLC now owns 5,495 shares of the company’s stock worth $590,000 after buying an additional 83 shares during the period. Finally, D.B. Root & Company LLC grew its stake in shares of Citigroup by 2.8% in the fourth quarter. D.B. Root & Company LLC now owns 3,191 shares of the company’s stock valued at $372,000 after buying an additional 87 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Citigroup Trading Down 0.2%

NYSE:C opened at $131.94 on Friday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 0.99. Citigroup Inc. has a one year low of $87.94 and a one year high of $147.96. The business’s 50-day simple moving average is $134.84 and its 200 day simple moving average is $123.76. The stock has a market cap of $225.03 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 0.59 and a beta of 1.11.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, July 14th. The company reported $3.15 EPS for the quarter, beating 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 $24.75 billion during the quarter, compared to the consensus estimate of $23.74 billion. During the same quarter in the prior year, the business posted $1.96 earnings per share. Citigroup’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, sell-side analysts predict that Citigroup Inc. will post 11.22 earnings per share for the current fiscal year.

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

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 3rd will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from Citigroup’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, August 3rd. Citigroup’s payout ratio is presently 25.92%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on C shares. JPMorgan Chase & Co. raised their target price on Citigroup from $135.50 to $149.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Wells Fargo & Company upped their price target on Citigroup from $162.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, June 18th. Morgan Stanley increased their price objective on shares of Citigroup from $154.00 to $164.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. Truist Financial dropped their price objective on shares of Citigroup from $158.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, July 15th. Finally, Evercore set a $143.00 target price on shares of Citigroup in a research report on Monday, July 6th. Two research 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 stock. According to MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and an average target price of $145.67.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup priced an $817 million multifamily CMBS deal, its largest post-GFC multifamily-only securitization, underscoring continued strength in Citi’s commercial real estate capital markets franchise and demand for apartment-backed debt. Citigroup (C) Sets Post GFC Record With $817 Million Multifamily CMBS Deal
• Positive Sentiment: Several brokerages remain constructive on Citigroup after its strong second quarter, with analysts pointing to solid earnings, improving outlooks and rising estimates for the bank. Buy 3 Top-Ranked Big Investment Banks Amid Solid Q2 Earnings & Outlook
• Positive Sentiment: Citigroup raised its quarterly dividend to $0.67 per share from $0.60, signaling confidence in capital strength and offering a more attractive income profile for shareholders. Dividend announcement
• Neutral Sentiment: Citigroup was also in the news for hiring five U.S. tech investment banking executives, a move that could support franchise growth over time but is unlikely to move the stock immediately. Citigroup hires five US tech investment banking executives from rivals
• Negative Sentiment: Citi’s downgrade of agilon health to Sell shows the bank is still making cautious calls on certain sectors, but this is more relevant to agilon than to Citigroup’s own earnings outlook. Why agilon health (AGL) Shares Are Falling Today

Citigroup Company 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.