Oak Grove Capital LLC Acquires New Stake in Citigroup Inc. $C

Oak Grove Capital LLC acquired a new stake in shares of Citigroup Inc. (NYSE:C) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 4,000 shares of the company’s stock, valued at approximately $518,000.

A number of other institutional investors and hedge funds have also bought and sold shares of C. Mirador Capital Partners LP boosted its position in Citigroup by 3.4% during the third quarter. Mirador Capital Partners LP now owns 43,155 shares of the company’s stock valued at $5,588,000 after buying an additional 1,428 shares during the period. Balefire LLC raised its stake in Citigroup by 3.5% in the third quarter. Balefire LLC now owns 8,840 shares of the company’s stock worth $1,145,000 after buying an additional 297 shares in the last quarter. Avity Investment Management Inc. boosted its position in shares of Citigroup by 16.6% during the third quarter. Avity Investment Management Inc. now owns 148,799 shares of the company’s stock valued at $19,266,000 after purchasing an additional 21,146 shares in the last quarter. Riversedge Advisors LLC boosted its holdings in shares of Citigroup by 38.4% during the 3rd quarter. Riversedge Advisors LLC now owns 8,765 shares of the company’s stock valued at $1,135,000 after buying an additional 2,433 shares in the last quarter. Finally, Wedmont Private Capital grew its holdings in Citigroup by 25.2% in the third quarter. Wedmont Private Capital now owns 32,692 shares of the company’s stock worth $4,007,000 after purchasing an additional 6,580 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Citigroup Price Performance

NYSE:C opened at $129.61 on Friday. The company has a market capitalization of $221.06 billion, a P/E ratio of 14.00, a P/E/G ratio of 0.57 and a beta of 1.13. Citigroup Inc. has a 12 month low of $93.66 and a 12 month high of $147.96. The business’s 50-day moving average is $133.74 and its 200 day moving average is $131.30. 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 (NYSE:C) last posted its earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.74 by $0.41. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The firm had revenue of $24.77 billion during the quarter, compared to analyst estimates of $23.74 billion. During the same period last year, the firm posted $1.96 earnings per share. Citigroup’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, equities research analysts forecast that Citigroup Inc. will post 11.19 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 3rd were given a $0.67 dividend. This is a boost from Citigroup’s previous quarterly dividend of $0.60. This represents a $2.68 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Monday, August 3rd. Citigroup’s dividend payout ratio is 28.94%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wall Street Zen lowered shares of Citigroup from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Royal Bank Of Canada reissued an “outperform” rating and set a $150.00 price objective on shares of Citigroup in a report on Wednesday, July 15th. Weiss Ratings lowered shares of Citigroup from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, October 2nd. UBS Group dropped their price target on Citigroup from $142.00 to $139.00 and set a “neutral” rating on the stock in a research note on Monday, October 5th. Finally, Evercore set a $140.00 target price on Citigroup in a report on Thursday, October 1st. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $151.28.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Positive pre-earnings outlook: Analysts expect third-quarter results to benefit from stronger net interest income and market revenues, while cost controls and shareholder returns remain key areas to watch. Citigroup stock ahead of Q3 earnings
• Positive Sentiment: New buy rating and upside target: TD Cowen initiated coverage of Citigroup with a “buy” rating and a $150 price target, implying meaningful upside from recent trading levels and reinforcing the view that Citi’s valuation could improve as its transformation progresses. TD Cowen coverage report
• Positive Sentiment: Private-bank expansion: Citi is adding regional leadership under former Bank of America executive Chris Biotti and targeting approximately $3 trillion in untapped North American client assets. Successful execution could strengthen fee income and help Citi compete more effectively in wealth management. Citi private bank expansion
• Positive Sentiment: AI and efficiency initiatives: Citi is shortening its investment-banking analyst program to two years while deploying AI tools to automate repetitive work. Management expects faster promotion paths and a more efficient talent model, although benefits will depend on implementation. Citigroup investment banking analyst program
• Neutral Sentiment: Valuation debate: Citi’s strong multi-year share-price performance has prompted questions about whether its returns on capital and profitability justify further gains. Optimists argue the bank could rerate closer to peers, while investors may demand more evidence from upcoming results. Citigroup valuation analysis
• Negative Sentiment: Mixed analyst signals and macro risks: UBS lowered its Citigroup price target to $139, and sharply rising bond yields could pressure bank valuations, funding costs and credit conditions ahead of earnings. UBS cuts Citigroup price target

Citigroup Company Profile

Citigroup Inc is a global financial services company headquartered in New York City and listed on the New York Stock Exchange under the symbol C. Through its subsidiaries and businesses, Citi provides banking, lending, investment, payments, wealth management and other financial services to consumers, businesses, governments and institutional clients.

Citi’s principal businesses include Services, which supports institutional clients with treasury, trade, securities services and related solutions; Markets, which provides sales, trading, research and financing services; Banking, which offers investment banking and corporate banking; and Wealth, which provides private banking and wealth management.