Citigroup Inc. $C Shares Acquired by Bluefin Capital Management LLC

Key Points

• Bluefin Capital Management increased its Citigroup stake by 158.1% in the second quarter, acquiring 27,200 additional shares for a total of 44,400 shares valued at approximately $6.2 million.
• Citigroup reported quarterly earnings and revenue above analyst expectations, with revenue rising 14.5% year over year. Analysts maintain a consensus “Moderate Buy” rating and an average price target of $145.22.
• The bank authorized a $30 billion share-buyback program and raised its quarterly dividend from $0.60 to $0.67 per share, equivalent to a 2.0% annualized yield.

Bluefin Capital Management LLC increased its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 158.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,400 shares of the company's stock after purchasing an additional 27,200 shares during the quarter. Citigroup makes up approximately 1.6% of Bluefin Capital Management LLC's portfolio, making the stock its 12th biggest position. Bluefin Capital Management LLC's holdings in Citigroup were worth $6,214,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Paladin Partners LLC purchased a new stake in shares of Citigroup during the 2nd quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. purchased a new position in shares of Citigroup in the 2nd quarter valued at $29,000. Mcguire Capital Advisors Inc. acquired a new stake in Citigroup during the 4th quarter worth $25,000. Whipplewood Advisors LLC acquired a new stake in Citigroup during the 1st quarter worth $25,000. Finally, TD Capital Management LLC purchased a new stake in Citigroup in the fourth quarter valued at $28,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on C. Morgan Stanley upped their price objective on shares of Citigroup from $154.00 to $164.00 and gave the company an "overweight" rating in a research note on Monday, June 29th. Weiss Ratings raised Citigroup from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday, August 24th. 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. Bank of America raised their price target on Citigroup from $170.00 to $176.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. Finally, Argus set a $150.00 price target on Citigroup in a research report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Citigroup currently has an average rating of "Moderate Buy" and a consensus target price of $145.22.

Citigroup Stock Up 0.1%

C opened at $132.77 on Friday. Citigroup Inc. has a 52 week low of $92.96 and a 52 week high of $147.96. The business has a 50 day moving average price of $136.20 and a two-hundred day moving average price of $126.81. The company has a quick ratio of 0.99, a current 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 (NYSE:C - Get Free Report) last announced its earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share for the quarter, beating the consensus estimate of $2.74 by $0.41. The company had revenue of $24.77 billion for the quarter, compared to the consensus estimate of $23.74 billion. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The company's revenue was up 14.5% on a year-over-year basis. During the same period last year, the business posted $1.96 EPS. As a group, research analysts anticipate that Citigroup Inc. will post 11.21 EPS for the current year.

Citigroup declared that its Board of Directors has approved a share buyback program on Thursday, May 7th that permits the company to buyback $30.00 billion in shares. This buyback authorization permits the company to buy up to 13.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board believes its shares are undervalued.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 3rd were given a $0.67 dividend. This is a positive change from Citigroup's previous quarterly dividend of $0.60. The ex-dividend date was Monday, August 3rd. This represents a $2.68 dividend on an annualized basis and a yield of 2.0%. Citigroup's payout ratio is 28.94%.

More 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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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