Empowered Funds LLC Has $16.95 Million Stock Position in Citigroup Inc. $C

Empowered Funds LLC lessened its holdings in Citigroup Inc. (NYSE:C) by 9.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 149,430 shares of the company’s stock after selling 15,824 shares during the quarter. Empowered Funds LLC’s holdings in Citigroup were worth $16,947,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank acquired a new stake in Citigroup in the 4th quarter worth about $2,800,944,000. Vanguard Group Inc. boosted its holdings in Citigroup by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company’s stock valued at $19,048,467,000 after purchasing an additional 4,938,923 shares during the period. Eurizon Capital SGR S.p.A. acquired a new position in shares of Citigroup during the 4th quarter worth approximately $298,082,000. SEB Asset Management AB acquired a new position in shares of Citigroup during the 1st quarter worth approximately $252,972,000. Finally, Deutsche Bank AG increased its holdings in shares of Citigroup by 28.4% during the fourth quarter. Deutsche Bank AG now owns 7,158,142 shares of the company’s stock worth $835,284,000 after purchasing an additional 1,582,150 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Performance

Shares of Citigroup stock opened at $132.53 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71. The company has a market cap of $226.04 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 0.60 and a beta of 1.11. The company has a 50 day moving average of $135.48 and a 200-day moving average of $123.98. Citigroup Inc. has a 1-year low of $87.94 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 analysts’ consensus estimates 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 $24.75 billion for the quarter, compared to analysts’ expectations of $23.74 billion. During the same period last year, the firm posted $1.96 earnings per share. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, equities research analysts forecast that Citigroup Inc. will post 11.2 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently announced 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. 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 (DPR) is 25.92%.

Citigroup declared that its board has initiated a share buyback plan on Thursday, May 7th that allows the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 13.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

C has been the subject of a number of analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $145.00 price target (up from $125.00) on shares of Citigroup in a research report on Wednesday, April 15th. Truist Financial lowered their price objective on Citigroup from $158.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, July 15th. The Goldman Sachs Group lifted their price objective on Citigroup from $137.00 to $151.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. JPMorgan Chase & Co. upped their target price on Citigroup from $135.50 to $149.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Finally, Barclays increased their target price on Citigroup from $146.00 to $154.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $145.67.

Insider Activity

In other news, Director John Cunningham Dugan sold 2,117 shares of Citigroup stock in a transaction on Friday, May 8th. The stock was sold at an average price of $125.30, for a total value of $265,260.10. Following the transaction, the director owned 12,194 shares in the company, valued at approximately $1,527,908.20. This trade represents a 14.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.11% of the company’s stock.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup launched Citi Consolidate, an invoice-processing and payables solution integrated with Infor Nexus. The platform digitizes purchase orders, invoice approvals and payments for corporate clients, potentially strengthening Citi’s transaction-banking relationships and adding recurring fee revenue. Citi Is Now Live With a Trade Digitization Solution Integrating Supply Chain Solutions
• Positive Sentiment: Wall Street strategists identified large banks, including Citigroup, as overlooked beneficiaries of the AI investment cycle. Banks could gain from financing data-center construction, managing payments and providing capital-markets services, broadening Citi’s exposure beyond traditional lending. Wall Street Banks Eyed as Overlooked Beneficiaries of AI Trade
• Positive Sentiment: Analyst commentary remains supportive after Citi’s strong second-quarter performance. The bank’s record results, transformation plan and shareholder-return prospects are being cited as reasons the stock may still offer upside despite its recent rerating. Is Citigroup Stock Still a Buy After Its Blockbuster Q2 Performance?
• Neutral Sentiment: Citigroup expects the Federal Reserve to hold interest rates at its upcoming meeting, while assigning a 33% probability to a hike. A stable-rate outlook could support net interest income, but the possibility of tighter policy keeps investors focused on inflation and credit conditions. Citigroup Expects Fed to Maintain Rates Amid 33% Hike Probability
• Negative Sentiment: Broader concerns that massive AI spending may prove unsustainable represent a risk to banks positioned to finance the buildout. A pullback in AI investment could reduce loan demand, deal activity and market sentiment toward financial stocks. Singapore’s MAS Flags AI Pullback as Threat to Global Markets

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.