Plato Investment Management Ltd Takes Position in Citigroup Inc. $C

Plato Investment Management Ltd acquired a new position in Citigroup Inc. (NYSE:C) during the second quarter, HoldingsChannel.com reports. The fund acquired 85,879 shares of the company’s stock, valued at approximately $11,949,000. Citigroup accounts for approximately 0.7% of Plato Investment Management Ltd’s investment portfolio, making the stock its 27th largest holding.

Several other large investors have also added to or reduced their stakes in C. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Citigroup during the second quarter worth $52,938,000. German American Bancorp Inc. acquired a new stake in Citigroup in the 2nd quarter valued at $219,000. Bank of New York Mellon Corp bought a new stake in Citigroup during the 2nd quarter worth about $3,244,602,000. S&CO Inc. bought a new stake in Citigroup during the 2nd quarter worth about $5,569,000. Finally, Orca Investment Management LLC acquired a new position in shares of Citigroup during the 2nd quarter worth about $478,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Kard acquisition strengthens U.S. cards strategy: Citi agreed to acquire Kard Financial, a commerce-media and rewards platform that connects banks, fintechs and merchants. The deal is intended to improve personalized offers, customer engagement and merchant-funded rewards, potentially supporting growth and profitability in Citi’s U.S. Consumer Cards business. Terms were not disclosed. Citi Plans to Acquire Kard to Deliver More Personalized Rewards
• Positive Sentiment: New financing activity highlights institutional banking strength: Citibank acted as lender and agent in an approximately $4.6 billion syndicated loan supporting a Japan-U.S. strategic investment initiative. The transaction reinforces Citi’s cross-border corporate and government-related financing capabilities and could generate additional fees and client relationships. Citigroup Participates in Financing for Japan-U.S. Strategic Investment Initiative
• Positive Sentiment: Large asset-servicing mandate adds recurring revenue potential: Citi Investor Services won a full middle-office mandate from Aegon Asset Management covering $380 billion in assets under management, expanding an existing 20-year relationship. The award supports the growth of Citi’s fee-based services and institutional franchise. Citi Investor Services Wins US$380 Billion Middle Office Mandate from Aegon Asset Management
• Neutral Sentiment: Management supports clearer crypto rules: CEO Jane Fraser called a strong version of the proposed CLARITY Act “excellent for the system,” though unresolved issues remain for banks. Clearer regulation could eventually expand institutional digital-asset activity, but the near-term earnings impact is uncertain. Bitcoin to $1M If CLARITY Act Passes? Citi CEO Discusses the CLARITY Act
• Negative Sentiment: Valuation and macro risks could limit upside: Citi’s stock has advanced substantially over the past year, prompting investors to question how much of the turnaround is already reflected in the price. The bank also noted softer household and business borrowing in China, while its commodities team is cautious about chasing rallies in gold—factors that could temper market enthusiasm. Is Citigroup a Solid Investment Option After a 51.2% Jump in a Year?

Citigroup Price Performance

Shares of NYSE C opened at $139.21 on Monday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.71. The business’s 50 day moving average price is $137.38 and its two-hundred day moving average price is $125.69. The company has a market cap of $237.43 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 0.63 and a beta of 1.12. Citigroup Inc. has a twelve month low of $90.68 and a twelve month high of $147.96.

Citigroup (NYSE:C) last released its quarterly earnings data on Tuesday, July 14th. The company reported $3.15 earnings per share (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 company had revenue of $24.77 billion during the quarter, compared to analysts’ expectations of $23.74 billion. During the same period last year, the firm posted $1.96 earnings per share. The business’s revenue was up 14.5% on a year-over-year basis. On average, analysts predict that Citigroup Inc. will post 11.2 EPS for the current year.

Citigroup Increases Dividend

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

Citigroup declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 7th that authorizes the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 13.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on C shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citigroup in a research report on Friday, July 17th. Truist Financial decreased their price target on Citigroup from $158.00 to $154.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Evercore set a $143.00 price target on Citigroup in a research report on Monday, July 6th. JPMorgan Chase & Co. upped their price objective on Citigroup from $135.50 to $149.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Finally, Keefe, Bruyette & Woods increased their price objective on Citigroup from $140.00 to $153.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $145.22.

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.