Emerald Investment Advisers LLC Purchases 4,540 Shares of Citigroup Inc. $C

Emerald Investment Advisers LLC increased its position in Citigroup Inc. (NYSE:C) by 8.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,450 shares of the company’s stock after acquiring an additional 4,540 shares during the quarter. Emerald Investment Advisers LLC’s holdings in Citigroup were worth $8,461,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Truist Financial Corp boosted its stake in Citigroup by 4.7% during the 4th quarter. Truist Financial Corp now owns 375,977 shares of the company’s stock valued at $43,873,000 after purchasing an additional 16,744 shares during the period. UniSuper Management Pty Ltd grew its holdings in Citigroup by 38.8% in the 4th quarter. UniSuper Management Pty Ltd now owns 1,306,851 shares of the company’s stock valued at $152,496,000 after buying an additional 365,041 shares during the last quarter. Brighton Jones LLC increased its position in 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 during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position 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 worth $453,371,000 after buying an additional 145,610 shares during the period. Finally, Highland Capital Management LLC lifted its holdings in shares of Citigroup by 6.2% during the fourth quarter. Highland Capital Management LLC now owns 217,753 shares of the company’s stock worth $25,410,000 after buying an additional 12,764 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Price Performance

Shares of NYSE:C opened at $131.46 on Friday. The firm has a market capitalization of $224.22 billion, a PE ratio of 14.20, a PEG ratio of 0.58 and a beta of 1.12. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71. Citigroup Inc. has a 1-year low of $92.84 and a 1-year high of $147.96. The business’s 50 day moving average is $137.20 and its 200-day moving average is $126.29.

Citigroup (NYSE:C) last issued its 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. The business had revenue of $24.77 billion during the quarter, compared to analyst estimates of $23.74 billion. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.Citigroup’s revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.96 earnings per share. Sell-side analysts predict that Citigroup Inc. will post 11.2 earnings per share for the current year.

Citigroup declared that its board has approved a share repurchase program on Thursday, May 7th that allows the company to buyback $30.00 billion in shares. This buyback authorization allows the company to repurchase up to 13.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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 issued a $0.67 dividend. This is a boost from Citigroup’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $2.68 annualized dividend and a yield of 2.0%. Citigroup’s payout ratio is presently 28.94%.

Key Stories Impacting Citigroup

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

Wall Street Analyst Weigh In

C has been the subject of several research reports. Wells Fargo & Company increased their price objective on Citigroup from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, June 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of Citigroup in a research note on Friday, July 17th. Zacks Research raised shares of Citigroup from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Argus set a $150.00 price objective on shares of Citigroup in a report on Wednesday, July 15th. Finally, Evercore set a $143.00 price objective on shares of Citigroup in a research report on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and an average target price of $145.22.

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.