Donald Smith & CO. Inc. Sells 358,819 Shares of Citigroup Inc. $C

Donald Smith & CO. Inc. lessened its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 27.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 933,085 shares of the company's stock after selling 358,819 shares during the period. Citigroup comprises approximately 2.3% of Donald Smith & CO. Inc.'s holdings, making the stock its 21st largest holding. Donald Smith & CO. Inc. owned about 0.05% of Citigroup worth $130,595,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of C. OneAscent Family Office LLC purchased a new stake in Citigroup in the 2nd quarter worth approximately $237,000. OneAscent Financial Services LLC grew its position in shares of Citigroup by 8.0% in the 2nd quarter. OneAscent Financial Services LLC now owns 5,178 shares of the company's stock worth $725,000 after buying an additional 385 shares during the last quarter. Greenspring Advisors LLC purchased a new position in shares of Citigroup during the second quarter valued at approximately $260,000. Ninepoint Partners LP purchased a new position in shares of Citigroup during the second quarter valued at approximately $580,000. Finally, MJP Associates Inc. ADV raised its holdings in shares of Citigroup by 14.7% during the second quarter. MJP Associates Inc. ADV now owns 4,427 shares of the company's stock valued at $620,000 after acquiring an additional 568 shares in the last quarter. Institutional investors own 71.72% of the company's stock.

Citigroup Trading Up 1.4%

NYSE C opened at $131.46 on Friday. The firm has a market capitalization of $224.22 billion, a PE ratio of 14.20, a P/E/G ratio of 0.58 and a beta of 1.12. The stock's 50 day moving average is $137.20 and its 200 day moving average is $126.29. Citigroup Inc. has a twelve month low of $92.84 and a twelve month high of $147.96. 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 posted its quarterly earnings data on Tuesday, July 14th. The company reported $3.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.74 by $0.41. The business had revenue of $24.77 billion during 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 firm's quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.96 earnings per share. Research analysts forecast that Citigroup Inc. will post 11.2 earnings per share for the current fiscal year.

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

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 $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 payout ratio is currently 28.94%.

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

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Zacks Research raised Citigroup from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 16th. Bank of America upped their price objective on shares of Citigroup from $170.00 to $176.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Wells Fargo & Company raised their target price on shares of Citigroup from $162.00 to $165.00 and gave the stock an "overweight" rating in a research report on Thursday, June 18th. Oppenheimer lowered shares of Citigroup from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 30th. Finally, Keefe, Bruyette & Woods increased 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. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has an average 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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