Citigroup Inc. $C Shares Sold by Osmosis Investment Management UK Ltd

Osmosis Investment Management UK Ltd decreased its position in Citigroup Inc. (NYSE:C) by 51.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 57,403 shares of the company’s stock after selling 60,873 shares during the period. Osmosis Investment Management UK Ltd’s holdings in Citigroup were worth $8,034,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Brighton Jones LLC boosted its position in shares of Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after buying an additional 12,499 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in Citigroup by 20.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 9,805 shares of the company’s stock valued at $835,000 after acquiring an additional 1,669 shares in the last quarter. United Bank purchased a new position in Citigroup during the 2nd quarter valued at about $972,000. Osterweis Capital Management Inc. raised its position in Citigroup by 3,016.7% during the second quarter. Osterweis Capital Management Inc. now owns 935 shares of the company’s stock worth $80,000 after acquiring an additional 905 shares during the last quarter. Finally, HUB Investment Partners LLC raised its position in Citigroup by 26.9% during the second quarter. HUB Investment Partners LLC now owns 15,287 shares of the company’s stock worth $1,301,000 after acquiring an additional 3,238 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on C shares. JPMorgan Chase & Co. increased their price target on shares of Citigroup from $135.50 to $149.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Zacks Research upgraded Citigroup from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Argus set a $150.00 target price on Citigroup in a report on Wednesday, July 15th. Truist Financial dropped their price target on Citigroup from $158.00 to $154.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $150.00 price target on shares of Citigroup in a report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Citigroup has a consensus rating of “Moderate Buy” and a consensus price target of $145.22.

Citigroup News Roundup

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 Stock Performance

NYSE:C opened at $131.46 on Monday. The firm has a 50 day simple moving average of $137.20 and a 200-day simple moving average of $126.36. 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 firm has a market cap of $224.22 billion, a PE ratio of 14.20, a P/E/G ratio of 0.59 and a beta of 1.12. Citigroup Inc. has a 1-year low of $92.84 and a 1-year high of $147.96.

Citigroup (NYSE:C) last announced its quarterly earnings data 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. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The business had revenue of $24.77 billion for the quarter, compared to the consensus estimate of $23.74 billion. During the same quarter in the prior year, the firm posted $1.96 earnings per share. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, equities analysts expect that Citigroup Inc. will post 11.2 EPS for the current year.

Citigroup Increases Dividend

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

Citigroup declared that its board has approved a stock buyback plan on Thursday, May 7th that allows the company to repurchase $30.00 billion in shares. This repurchase authorization allows the company to purchase up to 13.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

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.