Citigroup Inc. $C is Quantitative Investment Management LLC's 7th Largest Position

Key Points

• Quantitative Investment Management LLC increased its Citigroup stake by 1,319.6% in the second quarter to 113,851 shares worth approximately $15.9 million, making Citi its seventh-largest holding. Institutional investors collectively own 71.72% of the company.
• Citigroup reported quarterly EPS of $3.15 and revenue of $24.77 billion, exceeding estimates, while revenue rose 14.5% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $145.22.
• Citi raised its quarterly dividend to $0.67 per share and authorized a $30 billion share-repurchase program. However, a reported SEC probe into margin lending and leverage risks could create potential regulatory, litigation and profitability concerns.

Quantitative Investment Management LLC grew its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 1,319.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 113,851 shares of the company's stock after acquiring an additional 105,831 shares during the quarter. Citigroup accounts for approximately 1.7% of Quantitative Investment Management LLC's holdings, making the stock its 7th biggest holding. Quantitative Investment Management LLC's holdings in Citigroup were worth $15,934,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Paladin Partners LLC purchased a new stake in Citigroup in the second quarter worth about $27,000. Pin Oak Investment Advisors Inc. bought a new position in Citigroup during the 2nd quarter valued at about $29,000. Mcguire Capital Advisors Inc. purchased a new stake in Citigroup in the fourth quarter worth approximately $25,000. Whipplewood Advisors LLC purchased a new position in shares of Citigroup in the 1st quarter worth $25,000. Finally, TD Capital Management LLC purchased a new stake in shares of Citigroup during the 4th quarter valued at about $28,000. Institutional investors own 71.72% of the company's stock.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup’s recent quarterly results provide a fundamental cushion: earnings and revenue exceeded analyst expectations, with revenue up 14.5% year over year. SEC Probe Puts Wall Street Leverage Risk Back in Focus
• Neutral Sentiment: Citi analyst activity on Oracle, BMW and Forvia reflects the bank’s research and advisory business, but the recommendations are directed at those companies and have little direct impact on Citigroup’s equity value. Oracle Stock Gains Premarket
• Neutral Sentiment: Citigroup entities reported exiting substantial-holder status in Australia’s IDP Education and Healius. These appear to be portfolio or position disclosures rather than changes to Citi’s core business, making the immediate stock impact limited. Citi Group Entities Exit Substantial Holder Status in IDP Education
• Negative Sentiment: The SEC reportedly subpoenaed Citigroup, Goldman Sachs, JPMorgan and Bank of America over margin lending to hedge fund Situational Awareness, which suffered a 67% drawdown during an AI-stock sell-off. The probe puts leverage, collateral and counterparty-risk controls under scrutiny; potential fines, litigation costs or tighter lending requirements could weigh on Citi’s profitability, although the ultimate exposure remains unclear. SEC Probe Puts Wall Street Leverage Risk Back in Focus

Analysts Set New Price Targets

Several brokerages have recently commented on C. Wells Fargo & Company raised their price objective on shares of Citigroup from $162.00 to $165.00 and gave the company an "overweight" rating in a research report on Thursday, June 18th. Royal Bank Of Canada restated an "outperform" rating and issued a $150.00 price target on shares of Citigroup in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods raised their price objective on Citigroup from $140.00 to $153.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. Zacks Research raised shares of Citigroup from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 16th. Finally, Oppenheimer cut Citigroup from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 30th. Two investment 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $145.22.

Citigroup Stock Down 0.1%

NYSE:C opened at $132.77 on Monday. The company's 50 day moving average is $136.20 and its two-hundred day moving average is $126.83. 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 $226.45 billion, a PE ratio of 14.34, a P/E/G ratio of 0.60 and a beta of 1.12. Citigroup Inc. has a twelve month low of $92.96 and a twelve month high of $147.96.

Citigroup (NYSE:C - Get Free Report) 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 firm had revenue of $24.77 billion for 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 for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.96 earnings per share. Analysts anticipate that Citigroup Inc. will post 11.21 EPS for the current year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 3rd were paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Monday, August 3rd. This is an increase 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 permits the company to repurchase $30.00 billion in shares. This repurchase authorization permits the company to purchase up to 13.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are 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.

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