Citigroup Inc. $C Position Boosted by Marvin & Palmer Associates Inc.

Marvin & Palmer Associates Inc. grew its position in Citigroup Inc. (NYSE:C) by 136.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 78,786 shares of the company’s stock after acquiring an additional 45,496 shares during the quarter. Citigroup makes up approximately 7.0% of Marvin & Palmer Associates Inc.’s investment portfolio, making the stock its 4th biggest position. Marvin & Palmer Associates Inc.’s holdings in Citigroup were worth $11,027,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Truist Financial Corp increased its position in shares of Citigroup by 4.7% in the fourth quarter. Truist Financial Corp now owns 375,977 shares of the company’s stock worth $43,873,000 after acquiring an additional 16,744 shares in the last quarter. UniSuper Management Pty Ltd lifted its holdings in shares of Citigroup by 38.8% during the 4th quarter. UniSuper Management Pty Ltd now owns 1,306,851 shares of the company’s stock valued at $152,496,000 after acquiring an additional 365,041 shares in the last quarter. Brighton Jones LLC boosted its position in Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after purchasing an additional 12,499 shares during the period. Highland Capital Management LLC boosted its position in Citigroup by 6.2% during the 4th quarter. Highland Capital Management LLC now owns 217,753 shares of the company’s stock worth $25,410,000 after purchasing an additional 12,764 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Citigroup by 4.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,819,471 shares of the company’s stock valued at $453,371,000 after purchasing an additional 145,610 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on C shares. Truist Financial cut their price objective on Citigroup from $158.00 to $154.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. Weiss Ratings raised Citigroup from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, August 24th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $150.00 target price on shares of Citigroup in a research note on Wednesday, July 15th. Morgan Stanley boosted their price target on Citigroup from $154.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Finally, Evercore set a $143.00 price target on Citigroup in a report on Monday, July 6th. Two 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $145.22.

Key Headlines Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup’s recent quarterly results provide a fundamental cushion: earnings and revenue exceeded analyst expectations, with revenue up 14.5% year over year. SEC Probe Puts Wall Street Leverage Risk Back in Focus
• Neutral Sentiment: Citi analyst activity on Oracle, BMW and Forvia reflects the bank’s research and advisory business, but the recommendations are directed at those companies and have little direct impact on Citigroup’s equity value. Oracle Stock Gains Premarket
• Neutral Sentiment: Citigroup entities reported exiting substantial-holder status in Australia’s IDP Education and Healius. These appear to be portfolio or position disclosures rather than changes to Citi’s core business, making the immediate stock impact limited. Citi Group Entities Exit Substantial Holder Status in IDP Education
• Negative Sentiment: The SEC reportedly subpoenaed Citigroup, Goldman Sachs, JPMorgan and Bank of America over margin lending to hedge fund Situational Awareness, which suffered a 67% drawdown during an AI-stock sell-off. The probe puts leverage, collateral and counterparty-risk controls under scrutiny; potential fines, litigation costs or tighter lending requirements could weigh on Citi’s profitability, although the ultimate exposure remains unclear. SEC Probe Puts Wall Street Leverage Risk Back in Focus

Citigroup Stock Performance

Citigroup stock opened at $132.77 on Friday. Citigroup Inc. has a 12-month low of $92.96 and a 12-month high of $147.96. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $226.45 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 0.60 and a beta of 1.12. The firm’s fifty day moving average price is $136.20 and its 200 day moving average price is $126.81.

Citigroup (NYSE:C) last posted its quarterly earnings data 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. The company had revenue of $24.77 billion during the quarter, compared to analysts’ expectations of $23.74 billion. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.96 EPS. On average, research analysts forecast that Citigroup Inc. will post 11.21 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 3rd were paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 2.0%. This is a positive change from Citigroup’s previous quarterly dividend of $0.60. The ex-dividend date was Monday, August 3rd. Citigroup’s payout ratio is presently 28.94%.

Citigroup announced that its board has authorized 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 shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

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.