Diamond Hill Capital Management LLC Investment Advisor Invests $52.94 Million in Citigroup Inc. $C

Diamond Hill Capital Management LLC Investment Advisor bought a new stake in Citigroup Inc. (NYSE:C) during the 2nd quarter, Holdings Channel reports. The firm bought 378,238 shares of the company’s stock, valued at approximately $52,938,000.

Other large investors also recently made changes to their positions in the company. Cora Capital Advisors LLC lifted its holdings in Citigroup by 3.1% during the 1st quarter. Cora Capital Advisors LLC now owns 2,609 shares of the company’s stock worth $296,000 after purchasing an additional 78 shares during the last quarter. CFS Investment Advisory Services LLC grew its holdings in Citigroup by 0.4% in the 1st quarter. CFS Investment Advisory Services LLC now owns 20,596 shares of the company’s stock valued at $2,336,000 after buying an additional 79 shares in the last quarter. Verus Capital Partners LLC grew its holdings in Citigroup by 3.1% in the 4th quarter. Verus Capital Partners LLC now owns 2,748 shares of the company’s stock valued at $321,000 after buying an additional 82 shares in the last quarter. Somerset Trust Co increased its position in Citigroup by 0.6% during the 2nd quarter. Somerset Trust Co now owns 14,955 shares of the company’s stock worth $2,093,000 after buying an additional 82 shares during the period. Finally, CFO Capital Management LLC increased its position in Citigroup by 1.5% during the 1st quarter. CFO Capital Management LLC now owns 5,495 shares of the company’s stock worth $590,000 after buying an additional 83 shares during the period. Institutional investors own 71.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on C shares. Weiss Ratings reissued a “buy (b)” rating on shares of Citigroup in a research report on Friday, July 17th. Truist Financial dropped their price objective on shares of Citigroup from $158.00 to $154.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. UBS Group cut their price objective on shares of Citigroup from $150.00 to $142.00 and set a “neutral” rating for the company in a report on Monday, August 3rd. Evercore set a $143.00 target price on shares of Citigroup in a research report on Monday, July 6th. Finally, Zacks Research raised shares of Citigroup from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $145.22.

Citigroup Stock Performance

C opened at $139.21 on Monday. 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 52-week low of $90.68 and a 52-week high of $147.96. The firm has a market cap of $237.43 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 0.63 and a beta of 1.12. The business’s fifty day moving average is $137.38 and its 200-day moving average is $125.69.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, July 14th. The company reported $3.15 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 business had revenue of $24.77 billion during the quarter, compared to the consensus estimate of $23.74 billion. During the same quarter in the previous year, the firm earned $1.96 earnings per share. Citigroup’s revenue for the quarter was up 14.5% compared to the same quarter last year. Sell-side analysts expect that Citigroup Inc. will post 11.2 EPS for the current fiscal year.

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

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, August 3rd will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Monday, August 3rd. This is a boost from Citigroup’s previous quarterly dividend of $0.60. Citigroup’s dividend payout ratio is presently 28.94%.

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?

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.