Great Lakes Advisors LLC Decreases Stock Holdings in Citigroup Inc. $C

Great Lakes Advisors LLC lowered its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 13.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 465,917 shares of the company's stock after selling 73,980 shares during the quarter. Great Lakes Advisors LLC's holdings in Citigroup were worth $65,210,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Whipplewood Advisors LLC purchased a new stake in shares of Citigroup during the 1st quarter valued at about $25,000. Mcguire Capital Advisors Inc. purchased a new position in Citigroup in the fourth quarter worth about $25,000. Paladin Partners LLC purchased a new position in Citigroup in the second quarter worth about $27,000. Richards Merrill & Peterson Inc. bought a new stake in Citigroup during the fourth quarter worth approximately $28,000. Finally, TD Capital Management LLC bought a new stake in Citigroup during the fourth quarter worth approximately $28,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Price Performance

Citigroup stock opened at $137.66 on Wednesday. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market cap of $234.79 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 0.63 and a beta of 1.12. The firm has a 50-day moving average of $137.54 and a two-hundred day moving average of $126.02. Citigroup Inc. has a 1 year low of $90.68 and a 1 year 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, topping analysts' consensus estimates of $2.74 by $0.41. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The business had revenue of $24.77 billion for the quarter, compared to analyst estimates of $23.74 billion. During the same period last year, the company posted $1.96 earnings per share. The company's quarterly revenue was up 14.5% compared to the same quarter last year. On average, research analysts forecast that Citigroup Inc. will post 11.2 earnings per share for the current year.

Citigroup announced that its Board of Directors has authorized a stock buyback program 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 3rd will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 1.9%. This is an increase from Citigroup's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, August 3rd. Citigroup's payout ratio is currently 28.94%.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup plans to launch institutional Bitcoin custody services later this year, allowing clients to hold digital and traditional assets under one framework. The offering could create new fee revenue, strengthen Citi’s institutional-asset franchise and help the bank compete with major Wall Street rivals in digital-asset infrastructure. Bitcoin Custody for Institutional Clients Is Coming to Citi Later This Year
• Positive Sentiment: Citi also introduced its Custody+ platform, featuring continuous settlement, artificial-intelligence tools and an in-house tokenization rail through Citi Token Services. The platform supports the bank’s strategy of modernizing custody and transaction services, although the immediate earnings contribution remains uncertain. Citigroup Rolls Out Custody+ Platform With Bitcoin Services and Continuous Settlement
• Neutral Sentiment: Citi’s research team said prediction markets point toward a divided U.S. government after the midterm elections and outlined potential trading implications. The analysis may influence views on regulation, fiscal policy and bank-sector conditions, but it does not represent a direct change to Citigroup’s fundamentals. Prediction Markets See a Divided Government After Midterm Elections
• Negative Sentiment: Citigroup and five other banks agreed to an $86.4 million settlement resolving allegations of manipulation in Mexico’s bond market. Citi’s share of the payment was not specified, but the resolution creates a modest cost and reinforces regulatory and litigation risks for the bank. Major US Banks Agree to $86.4M Settlement in Mexican Bond-Rigging Case

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on C shares. 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. UBS Group cut their target price on Citigroup from $150.00 to $142.00 and set a "neutral" rating on the stock in a research report on Monday, August 3rd. Wells Fargo & Company increased their price target on Citigroup from $162.00 to $165.00 and gave the company an "overweight" rating in a report on Thursday, June 18th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $150.00 price objective on shares of Citigroup in a research note on Wednesday, July 15th. Finally, Zacks Research raised shares of Citigroup from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Citigroup has a consensus rating of "Moderate Buy" and a consensus price target 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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