St. Louis Financial Planners Asset Management LLC Takes $3.52 Million Position in Citigroup Inc. $C

Key Points

• St. Louis Financial Planners Asset Management initiated a $3.52 million Citigroup position, buying 25,148 shares in the second quarter. Institutional investors and hedge funds collectively own 71.72% of Citigroup.
• Citigroup posted better-than-expected second-quarter results, with revenue rising 14.5% year over year to $24.77 billion and earnings per share of $3.15. The bank also authorized a $30 billion share buyback and raised its quarterly dividend to $0.67.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and a $145.22 price target, but near-term investment and severance costs could pressure earnings as Citi continues its restructuring.

St. Louis Financial Planners Asset Management LLC bought a new position in Citigroup Inc. (NYSE:C - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 25,148 shares of the company's stock, valued at approximately $3,520,000. Citigroup comprises 1.8% of St. Louis Financial Planners Asset Management LLC's holdings, making the stock its 24th biggest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. 55 North Private Wealth LLC raised its position in Citigroup by 21.9% during the second quarter. 55 North Private Wealth LLC now owns 6,697 shares of the company's stock valued at $937,000 after acquiring an additional 1,204 shares in the last quarter. Byrne Asset Management LLC grew its stake in shares of Citigroup by 194.3% during the 2nd quarter. Byrne Asset Management LLC now owns 3,635 shares of the company's stock worth $509,000 after purchasing an additional 2,400 shares during the period. Sarasin & Partners LLP increased its holdings in shares of Citigroup by 183.5% during the 2nd quarter. Sarasin & Partners LLP now owns 1,856,723 shares of the company's stock valued at $259,867,000 after purchasing an additional 1,201,901 shares in the last quarter. Fermata Advisors LLC purchased a new position in shares of Citigroup during the 2nd quarter valued at approximately $303,000. Finally, Mirador Capital Partners LP lifted its stake in shares of Citigroup by 1.0% in the 2nd quarter. Mirador Capital Partners LP now owns 41,727 shares of the company's stock valued at $5,840,000 after purchasing an additional 429 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup reported its strongest quarterly revenue in roughly a decade. Second-quarter revenue benefited from broad-based growth across businesses, higher net interest income and efficiency gains, supporting a sharp increase in profitability. Citigroup's Q2 Revenues Reach Decade High: What's Fuelling Growth?
• Positive Sentiment: Morgan Stanley argues that Citi’s planned investments and severance costs could obscure the benefits of its restructuring in the near term, but potentially produce a meaningful earnings payoff by 2028. Citi’s second-quarter net income rose 45% to $5.8 billion, reinforcing the long-term turnaround case. Morgan Stanley says Citi’s expense scare hides a 2028 payoff
• Neutral Sentiment: Citigroup-related entities exited substantial-holder status in Predictive Discovery Limited. The disclosure appears to concern Citi’s investment position in another company and is unlikely to materially affect Citigroup’s earnings or valuation. Citigroup Entities Exit Substantial Holder Status in Predictive Discovery
• Negative Sentiment: The main pressure on C is near-term cost guidance. Management’s warning that investments and severance expenses may rise during the second half of 2026 has led investors to question how quickly strong revenue growth will translate into sustainable earnings and returns. This concern previously outweighed the company’s earnings beat and remains an overhang on the stock. Morgan Stanley says Citi’s expense scare hides a 2028 payoff

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on C. Wells Fargo & Company increased their price target on shares of Citigroup from $162.00 to $165.00 and gave the stock an "overweight" rating in a report on Thursday, June 18th. JPMorgan Chase & Co. upped their price objective on shares of Citigroup from $135.50 to $149.00 and gave the stock an "overweight" rating in a research report on Monday, July 6th. Truist Financial lowered their target price on shares of Citigroup from $158.00 to $154.00 and set a "buy" rating on the stock in a research note on Wednesday, July 15th. Argus set a $150.00 price target on Citigroup in a research note on Wednesday, July 15th. Finally, UBS Group cut their price target on Citigroup from $150.00 to $142.00 and set a "neutral" rating for the company in a research note on Monday. Two equities research 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's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $145.22.

Citigroup Price Performance

Citigroup stock opened at $133.86 on Friday. The stock has a market capitalization of $228.31 billion, a P/E ratio of 14.46, a P/E/G ratio of 0.62 and a beta of 1.12. The company's fifty day moving average price is $136.62 and its 200 day moving average price is $124.76. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 0.99. 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 posted its quarterly earnings data 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. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The company had revenue of $24.77 billion during the quarter, compared to analysts' expectations of $23.74 billion. During the same period in the prior year, the business posted $1.96 earnings per share. The firm's revenue for the quarter was up 14.5% on a year-over-year basis. As a group, equities research analysts anticipate that Citigroup Inc. will post 11.2 earnings per share for the current fiscal year.

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

Citigroup Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $2.68 dividend on an annualized basis and a yield of 2.0%. This is a boost from Citigroup's previous quarterly dividend of $0.60. Citigroup's dividend payout ratio is 28.94%.

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.

Want to see what other hedge funds are holding C? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citigroup Inc. (NYSE:C - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source