KMG Fiduciary Partners LLC Has $2.55 Million Stake in Citigroup Inc. $C

KMG Fiduciary Partners LLC lifted its stake in Citigroup Inc. (NYSE:C) by 50.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 18,204 shares of the company’s stock after acquiring an additional 6,071 shares during the period. KMG Fiduciary Partners LLC’s holdings in Citigroup were worth $2,548,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of C. Vanguard Group Inc. lifted its position in Citigroup by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company’s stock worth $19,048,467,000 after purchasing an additional 4,938,923 shares during the period. Geode Capital Management LLC raised its stake in shares of Citigroup by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 43,252,372 shares of the company’s stock valued at $5,036,712,000 after buying an additional 189,548 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Citigroup by 4.0% in the 4th quarter. Franklin Resources Inc. now owns 34,196,783 shares of the company’s stock valued at $3,990,422,000 after buying an additional 1,326,224 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Citigroup by 2.6% during the 4th quarter. Fisher Asset Management LLC now owns 33,887,285 shares of the company’s stock worth $3,954,307,000 after acquiring an additional 846,772 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of Citigroup by 2.8% during the 1st quarter. Bank of America Corp DE now owns 26,869,012 shares of the company’s stock worth $3,047,215,000 after acquiring an additional 728,043 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of Citigroup from $137.00 to $151.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $150.00 price objective on shares of Citigroup in a report on Wednesday, July 15th. Wall Street Zen lowered Citigroup from a “buy” rating to a “hold” rating in a research note on Saturday. Keefe, Bruyette & Woods increased their target price on Citigroup from $140.00 to $153.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Finally, Oppenheimer downgraded Citigroup from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Two equities 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $145.22.

Citigroup Trading Up 0.1%

C stock opened at $135.15 on Tuesday. The business has a fifty day moving average price of $136.93 and a 200 day moving average price of $125.03. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.99 and a quick ratio of 0.99. Citigroup Inc. has a fifty-two week low of $90.68 and a fifty-two week high of $147.96. The stock has a market capitalization of $230.51 billion, a price-to-earnings ratio of 14.60, a P/E/G ratio of 0.61 and a beta of 1.12.

Citigroup (NYSE:C) last announced 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 return on equity of 10.15% and a net margin of 10.23%.The company had revenue of $24.77 billion during the quarter, compared to analyst estimates of $23.74 billion. During the same period last year, the company posted $1.96 earnings per share. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. Analysts expect that Citigroup Inc. will post 11.2 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, August 3rd will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 2.0%. This is an increase from Citigroup’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, August 3rd. Citigroup’s payout ratio is currently 28.94%.

Citigroup declared that its Board of Directors has approved a share buyback plan on Thursday, May 7th that permits the company to repurchase $30.00 billion in outstanding 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 board believes its shares are undervalued.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup appointed Jean-Baptiste Charlet, previously Morgan Stanley’s head of France, to lead its French operations. The hire may strengthen Citi’s investment-banking and commercial-banking presence in a key European market, although the near-term financial impact is likely limited. Citigroup poaches Charlet from Morgan Stanley to head French arm
• Neutral Sentiment: Citigroup-related entities exited substantial-holder status in Vulcan Energy Resources. This appears to be a portfolio or ownership disclosure rather than a change to Citi’s core operations, and it is unlikely to have a meaningful effect on C shares. Citigroup Group Entities Exit Substantial Holder Status in Vulcan Energy Resources
• Neutral Sentiment: A Citigroup analyst lowered the price target on Micron Technology while retaining a Buy rating, citing slowing memory-price growth and Chinese capacity risks. The report affects Micron directly, but has no immediate earnings implication for Citigroup beyond its role as the research provider. Micron’s Memory Boom Is Heading For A Peak, Analyst Warns

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.