Blue Capital Inc. Purchases New Holdings in Citigroup Inc. $C

Blue Capital Inc. acquired a new position in shares of Citigroup Inc. (NYSE:C - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,044 shares of the company's stock, valued at approximately $2,805,000. Citigroup makes up about 1.8% of Blue Capital Inc.'s portfolio, making the stock its 13th largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Truist Financial Corp increased its holdings in Citigroup by 4.7% in the 4th quarter. Truist Financial Corp now owns 375,977 shares of the company's stock worth $43,873,000 after buying an additional 16,744 shares in the last quarter. UniSuper Management Pty Ltd lifted its stake in Citigroup by 38.8% during the 4th quarter. UniSuper Management Pty Ltd now owns 1,306,851 shares of the company's stock valued at $152,496,000 after acquiring an additional 365,041 shares during the period. Brighton Jones LLC lifted its stake in Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after acquiring an additional 12,499 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Citigroup by 4.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,819,471 shares of the company's stock valued at $453,371,000 after purchasing an additional 145,610 shares during the period. Finally, Highland Capital Management LLC boosted its holdings in Citigroup by 6.2% in the fourth quarter. Highland Capital Management LLC now owns 217,753 shares of the company's stock worth $25,410,000 after purchasing an additional 12,764 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Wall Street Analyst Weigh In

C has been the topic of a number of research reports. Morgan Stanley raised their price objective on shares of Citigroup from $154.00 to $164.00 and gave the stock an "overweight" rating in a report on Monday, June 29th. UBS Group reduced their target price 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. Zacks Research upgraded shares of Citigroup from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 16th. Keefe, Bruyette & Woods lifted their price target on shares of Citigroup from $140.00 to $153.00 and gave the stock an "outperform" rating in a research note on Friday, May 8th. Finally, Evercore set a $143.00 price objective on Citigroup in a research note on Monday, July 6th. Two investment 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 stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $145.22.

More Citigroup News

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

Citigroup stock opened at $131.46 on Friday. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.99 and a quick ratio of 0.99. Citigroup Inc. has a 1-year low of $92.84 and a 1-year high of $147.96. The firm has a market capitalization of $224.22 billion, a P/E ratio of 14.20, a price-to-earnings-growth ratio of 0.58 and a beta of 1.12. The company's 50-day moving average is $137.20 and its 200 day moving average is $126.29.

Citigroup (NYSE:C - Get Free Report) last announced its 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 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%.The company's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.96 earnings per share. Research analysts forecast that Citigroup Inc. will post 11.2 EPS for the current year.

Citigroup Increases Dividend

The firm 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 dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 2.0%. This is a positive change from Citigroup's previous quarterly dividend of $0.60. The ex-dividend date is Monday, August 3rd. Citigroup's dividend payout ratio is 28.94%.

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

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.

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