Citigroup Inc. $C Shares Purchased by Generali Investments Management Co LLC

Key Points

• Generali Investments Management more than doubled its Citigroup stake to 29,538 shares, valued at approximately $4.1 million. Institutional investors collectively own 71.72% of Citi’s stock.
• Citigroup reported a strong quarter, with EPS of $3.15 versus the $2.74 estimate and revenue of $24.77 billion, up 14.5% year over year.
• Citi approved a $30 billion share-repurchase program and raised its quarterly dividend to $0.67 per share, producing a 2.0% annualized yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $145.22.

Generali Investments Management Co LLC boosted its stake in Citigroup Inc. (NYSE:C - Free Report) by 104.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,538 shares of the company's stock after acquiring an additional 15,057 shares during the quarter. Citigroup comprises about 0.9% of Generali Investments Management Co LLC's holdings, making the stock its 21st largest holding. Generali Investments Management Co LLC's holdings in Citigroup were worth $4,134,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Mcguire Capital Advisors Inc. acquired a new position in shares of Citigroup during the fourth quarter worth $25,000. Whipplewood Advisors LLC acquired a new stake in Citigroup during the 1st quarter valued at $25,000. Richards Merrill & Peterson Inc. purchased a new stake in Citigroup during the 4th quarter worth $28,000. TD Capital Management LLC purchased a new stake in Citigroup during the 4th quarter worth $28,000. Finally, IMG Wealth Management Inc. lifted its holdings in Citigroup by 197.6% in the 1st quarter. IMG Wealth Management Inc. now owns 244 shares of the company's stock worth $28,000 after buying an additional 162 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company's stock.

Citigroup Stock Up 0.1%

Shares of Citigroup stock opened at $135.15 on Tuesday. The business has a 50-day moving average price of $136.93 and a 200 day moving average price of $125.03. Citigroup Inc. has a fifty-two week low of $90.68 and a fifty-two week high of $147.96. The firm has a market cap of $230.51 billion, a P/E ratio of 14.60, a P/E/G ratio of 0.61 and a beta of 1.12. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.71.

Citigroup (NYSE:C - Get Free Report) last released its earnings results on Tuesday, July 14th. The company reported $3.15 EPS for the quarter, topping analysts' consensus estimates 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%.Citigroup's quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.96 EPS. On average, sell-side analysts forecast that Citigroup Inc. will post 11.2 earnings per share for the current fiscal year.

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

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 3rd will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $2.68 annualized dividend and a dividend yield of 2.0%. This is an increase from Citigroup's previous quarterly dividend of $0.60. Citigroup's dividend payout ratio is currently 28.94%.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup appointed Jean-Baptiste Charlet, previously Morgan Stanley’s head of France, to lead its French operations. The hire may strengthen Citi’s investment-banking and commercial-banking presence in a key European market, although the near-term financial impact is likely limited. Citigroup poaches Charlet from Morgan Stanley to head French arm
• Neutral Sentiment: Citigroup-related entities exited substantial-holder status in Vulcan Energy Resources. This appears to be a portfolio or ownership disclosure rather than a change to Citi’s core operations, and it is unlikely to have a meaningful effect on C shares. Citigroup Group Entities Exit Substantial Holder Status in Vulcan Energy Resources
• Neutral Sentiment: A Citigroup analyst lowered the price target on Micron Technology while retaining a Buy rating, citing slowing memory-price growth and Chinese capacity risks. The report affects Micron directly, but has no immediate earnings implication for Citigroup beyond its role as the research provider. Micron’s Memory Boom Is Heading For A Peak, Analyst Warns

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on C shares. Keefe, Bruyette & Woods upped their price objective on shares of Citigroup from $140.00 to $153.00 and gave the company an "outperform" rating in a research report on Friday, May 8th. Evercore set a $143.00 target price on Citigroup in a research report on Monday, July 6th. Barclays boosted their price target on Citigroup from $146.00 to $154.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 15th. JPMorgan Chase & Co. increased their price target on Citigroup from $135.50 to $149.00 and gave the company an "overweight" rating in a report on Monday, July 6th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Citigroup in a research note on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Citigroup has a consensus rating of "Moderate Buy" and an average target price of $145.22.

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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