Rathbones Group PLC Cuts Stock Holdings in Citigroup Inc. $C

Rathbones Group PLC lowered its position in Citigroup Inc. (NYSE:C) by 8.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 158,208 shares of the company’s stock after selling 13,964 shares during the period. Rathbones Group PLC’s holdings in Citigroup were worth $17,942,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings in Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after acquiring an additional 12,499 shares during the period. Sivia Capital Partners LLC grew its stake in shares of Citigroup by 20.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 9,805 shares of the company’s stock worth $835,000 after purchasing an additional 1,669 shares during the period. United Bank purchased a new position in shares of Citigroup in the 2nd quarter valued at about $972,000. Osterweis Capital Management Inc. increased its holdings in shares of Citigroup by 3,016.7% in the 2nd quarter. Osterweis Capital Management Inc. now owns 935 shares of the company’s stock valued at $80,000 after purchasing an additional 905 shares in the last quarter. Finally, HUB Investment Partners LLC lifted its stake in shares of Citigroup by 26.9% in the second quarter. HUB Investment Partners LLC now owns 15,287 shares of the company’s stock valued at $1,301,000 after purchasing an additional 3,238 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup hired Bank of America veteran Rohan Sen to lead technology-services coverage in its investment-banking division. The appointment supports Citi’s broader investment-banking hiring push and could help expand fee-generating advisory and capital-markets activity. Citi Recruits Bank of America Vet Rohan Sen Amid Investment Banking Hiring Spree
• Positive Sentiment: Citi, American Airlines and Mastercard unveiled enhanced benefits for the Citi/AAdvantage Executive World Elite Mastercard, including Admirals Club access and a faster path to airline status. The refresh may improve card acquisition, customer retention and credit-card revenue. American Airlines and Citi Elevate Premium Travel With Enhanced Citi / AAdvantage Executive World Legend Mastercard
• Neutral Sentiment: Citi strategists said a stronger yen could lift other Asian currencies, highlighting the bank’s ongoing influence in global foreign-exchange research. The commentary is unlikely to materially change Citi’s earnings outlook but reinforces its market presence. Yen Surge Will Drive Up Other Asian Currencies, Strategists Say
• Neutral Sentiment: Citi is reportedly playing a larger role in hedging risks associated with leveraged ETFs and discussions surrounding Treasury participation in the repo market. The developments could create trading opportunities, but they also place greater attention on the bank’s funding, derivatives and financial-stability exposures. Citigroup Takes On A Bigger Role In Leveraged ETF Risk
• Negative Sentiment: Citi’s $0.67-per-share dividend went ex-dividend on August 3. While the payment supports the shareholder-return story, the ex-dividend adjustment can temporarily weigh on the stock and reduces near-term trading support. Citigroup Inc’s Dividend Analysis

Insider Buying and Selling

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

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Piper Sandler restated an “overweight” rating and set a $145.00 target price (up from $125.00) on shares of Citigroup in a research report on Wednesday, April 15th. Bank of America lifted their price target on shares of Citigroup from $170.00 to $176.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Royal Bank Of Canada restated an “outperform” rating and issued a $150.00 price target on shares of Citigroup in a report on Wednesday, July 15th. Truist Financial dropped their price objective on Citigroup from $158.00 to $154.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Finally, The Goldman Sachs Group lifted their price objective on Citigroup from $137.00 to $151.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Two equities 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 company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $145.22.

Citigroup Stock Performance

Shares of C opened at $133.51 on Tuesday. Citigroup Inc. has a 12-month low of $89.68 and a 12-month high of $147.96. The stock has a market cap of $227.72 billion, a P/E ratio of 14.42, a PEG ratio of 0.60 and a beta of 1.12. 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 company has a 50-day moving average of $135.99 and a two-hundred day moving average of $124.33.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, July 14th. The company reported $3.15 EPS for the quarter, beating 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 $24.75 billion for the quarter, compared to analyst estimates of $23.74 billion. During the same period in the prior year, the business earned $1.96 earnings per share. The company’s quarterly revenue was up 14.5% on a year-over-year basis. As a group, research analysts predict that Citigroup Inc. will post 11.2 EPS for the current fiscal year.

Citigroup announced that its board has approved a share repurchase program on Thursday, May 7th that authorizes the company to buyback $30.00 billion in shares. This buyback authorization authorizes the company to buy up to 13.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Citigroup Increases Dividend

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

Citigroup 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.