Northwestern Mutual Wealth Management Co. Reduces Stake in Citigroup Inc. $C

Northwestern Mutual Wealth Management Co. lessened its holdings in shares of Citigroup Inc. (NYSE:C) by 14.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 637,555 shares of the company’s stock after selling 110,514 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Citigroup were worth $89,232,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC purchased a new position in Citigroup in the first quarter valued at approximately $25,000. Mcguire Capital Advisors Inc. purchased a new stake in shares of Citigroup during the 4th quarter worth approximately $25,000. Paladin Partners LLC purchased a new stake in shares of Citigroup during the 2nd quarter worth approximately $27,000. TD Capital Management LLC acquired a new position in shares of Citigroup in the 4th quarter valued at $28,000. Finally, IMG Wealth Management Inc. boosted its holdings in shares of Citigroup by 197.6% in the 1st quarter. IMG Wealth Management Inc. now owns 244 shares of the company’s stock valued at $28,000 after buying an additional 162 shares in the last quarter. 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: Anthropic IPO role could boost fee revenue and deal visibility. Citigroup is reportedly being added to the group of leading banks guiding Anthropic toward a potential initial public offering. A role on a large, prominent AI-company listing could generate underwriting fees and strengthen Citi’s capital-markets franchise. Anthropic adds Citigroup to top banks guiding its IPO
• Positive Sentiment: Citigroup received strong growth-oriented stock-market recognition. A recent ranking identified Citigroup and Goldman Sachs among financial giants receiving “buy” growth grades, reinforcing the view that Citi’s earnings and business outlook compare favorably with peers. Citigroup and Goldman Sachs lead as most financial giants earn buy growth grades
• Neutral Sentiment: Citi remains constructive on broader equity markets. The bank maintained an overweight view on equities and said it would use any weakness before the U.S. midterm elections to add exposure. This may support confidence in Citi’s research and client-facing businesses, although it does not directly change the company’s earnings outlook. S&P 500 may pull back before midterms, but Citi says buy the dip
• Negative Sentiment: Credit-quality concerns remain a risk. Citigroup’s July card delinquencies edged higher, although lower charge-offs provided some offsetting relief. Investors may continue monitoring consumer credit trends for signs of pressure on asset quality and loan-loss provisions. C’s July Card Delinquencies Tick Up

Citigroup Price Performance

Shares of C opened at $131.46 on Friday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 0.99. Citigroup Inc. has a fifty-two week low of $92.84 and a fifty-two week high of $147.96. The firm has a 50-day simple moving average of $137.20 and a 200-day simple moving average of $126.29. The company has a market capitalization of $224.22 billion, a price-to-earnings ratio of 14.20, a price-to-earnings-growth ratio of 0.59 and a beta of 1.12.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.74 by $0.41. The firm had revenue of $24.77 billion for the quarter, compared to analysts’ expectations of $23.74 billion. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.96 EPS. On average, equities research analysts anticipate that Citigroup Inc. will post 11.2 earnings per share for the current year.

Citigroup announced that its Board of Directors has authorized a stock buyback program on Thursday, May 7th that authorizes the company to buyback $30.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 13.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Citigroup Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Bank of America lifted their price target on shares of Citigroup from $170.00 to $176.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. UBS Group decreased their price objective on shares of Citigroup from $150.00 to $142.00 and set a “neutral” rating for the company in a research note on Monday, August 3rd. Evercore set a $143.00 price objective on Citigroup in a report on Monday, July 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Citigroup in a research report on Friday, July 17th. Finally, Wells Fargo & Company boosted their target price on Citigroup from $162.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, June 18th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and an average target price of $145.22.

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.