EP Wealth Advisors LLC Purchases 10,946 Shares of Citigroup Inc. $C

EP Wealth Advisors LLC lifted its holdings in Citigroup Inc. (NYSE:C - Free Report) by 19.4% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 67,481 shares of the company's stock after buying an additional 10,946 shares during the period. EP Wealth Advisors LLC's holdings in Citigroup were worth $9,445,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of C. Cora Capital Advisors LLC boosted its position in Citigroup by 3.1% in the first quarter. Cora Capital Advisors LLC now owns 2,609 shares of the company's stock worth $296,000 after purchasing an additional 78 shares during the last quarter. CFS Investment Advisory Services LLC increased its holdings in Citigroup by 0.4% during the first quarter. CFS Investment Advisory Services LLC now owns 20,596 shares of the company's stock worth $2,336,000 after buying an additional 79 shares during the last quarter. Verus Capital Partners LLC boosted its stake in Citigroup by 3.1% in the fourth quarter. Verus Capital Partners LLC now owns 2,748 shares of the company's stock valued at $321,000 after acquiring an additional 82 shares during the last quarter. Somerset Trust Co boosted its stake in Citigroup by 0.6% in the second quarter. Somerset Trust Co now owns 14,955 shares of the company's stock valued at $2,093,000 after acquiring an additional 82 shares during the last quarter. Finally, CFO Capital Management LLC grew its holdings in Citigroup by 1.5% during the first quarter. CFO Capital Management LLC now owns 5,495 shares of the company's stock valued at $590,000 after purchasing an additional 83 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Morgan Stanley increased their target price on shares of Citigroup from $154.00 to $164.00 and gave the stock an "overweight" rating in a research report on Monday, June 29th. Wall Street Zen lowered Citigroup from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Zacks Research raised shares of Citigroup from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 16th. Keefe, Bruyette & Woods boosted 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, UBS Group decreased their price target on shares of Citigroup from $150.00 to $142.00 and set a "neutral" rating on the stock in a report on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Citigroup has an average rating of "Moderate Buy" and an average price target 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

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

Citigroup (NYSE:C - Get Free Report) last released its earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share for the quarter, topping analysts' consensus estimates of $2.74 by $0.41. The company 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%.Citigroup's quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.96 EPS. On average, sell-side analysts anticipate that Citigroup Inc. will post 11.2 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, August 3rd will be paid a $0.67 dividend. This is a positive change from Citigroup's previous quarterly dividend of $0.60. 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%. Citigroup's dividend payout ratio is currently 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 buy up to 13.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are 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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