Toth Financial Advisory Corp Boosts Stock Position in Citigroup Inc. $C

Key Points

• Toth Financial Advisory Corp increased its Citigroup stake by 1,166.6% in the second quarter, ending with 9,056 shares valued at approximately $1.27 million. Institutional investors collectively own 71.72% of Citi’s stock.
• Citigroup reported stronger-than-expected quarterly results, with EPS of $3.15 versus $2.74 expected and revenue of $24.77 billion, up 14.5% year over year.
• Citi raised its quarterly dividend to $0.67, implying a 2.0% annual yield, and authorized a $30 billion share-repurchase program. Analysts maintain a “Moderate Buy” consensus with an average price target of $145.22.

Toth Financial Advisory Corp grew its position in Citigroup Inc. (NYSE:C - Free Report) by 1,166.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,056 shares of the company's stock after purchasing an additional 8,341 shares during the period. Toth Financial Advisory Corp's holdings in Citigroup were worth $1,267,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Truist Financial Corp grew its position in shares of Citigroup by 4.7% during the fourth quarter. Truist Financial Corp now owns 375,977 shares of the company's stock valued at $43,873,000 after purchasing an additional 16,744 shares in the last quarter. UniSuper Management Pty Ltd lifted its position in shares of Citigroup by 38.8% in the fourth quarter. UniSuper Management Pty Ltd now owns 1,306,851 shares of the company's stock worth $152,496,000 after buying an additional 365,041 shares in the last quarter. Brighton Jones LLC boosted its stake in Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after buying an additional 12,499 shares during the last quarter. Highland Capital Management LLC grew its holdings in Citigroup by 6.2% during the 4th quarter. Highland Capital Management LLC now owns 217,753 shares of the company's stock valued at $25,410,000 after buying an additional 12,764 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Citigroup by 4.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,819,471 shares of the company's stock worth $453,371,000 after acquiring an additional 145,610 shares during the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Trading Up 0.1%

C opened at $132.77 on Friday. The stock's 50 day moving average price is $136.20 and its 200-day moving average price is $126.81. The stock has a market cap of $226.45 billion, a price-to-earnings ratio of 14.34, a P/E/G ratio of 0.60 and a beta of 1.12. 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 one year low of $92.96 and a one year high of $147.96.

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. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The business had revenue of $24.77 billion for the quarter, compared to analyst estimates of $23.74 billion. During the same quarter last year, the firm posted $1.96 earnings per share. The business's revenue was up 14.5% compared to the same quarter last year. On average, equities analysts forecast that Citigroup Inc. will post 11.2 EPS for the current year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 3rd were given 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 was Monday, August 3rd. This represents a $2.68 annualized dividend and a yield of 2.0%. Citigroup's dividend payout ratio is presently 28.94%.

Citigroup announced that its Board of Directors has initiated a share repurchase plan on Thursday, May 7th that permits the company to repurchase $30.00 billion in shares. This repurchase authorization permits the company to buy up to 13.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on C shares. Wall Street Zen lowered shares of Citigroup from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. UBS Group lowered their price target on shares of Citigroup from $150.00 to $142.00 and set a "neutral" rating for the company in a report on Monday, August 3rd. Wells Fargo & Company boosted their price objective on Citigroup from $162.00 to $165.00 and gave the stock an "overweight" rating in a research note on Thursday, June 18th. Royal Bank Of Canada restated an "outperform" rating and set a $150.00 price objective on shares of Citigroup in a research report on Wednesday, July 15th. Finally, Evercore set a $143.00 target price on Citigroup in a research report on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $145.22.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup’s recent quarterly results provide a fundamental cushion: earnings and revenue exceeded analyst expectations, with revenue up 14.5% year over year. SEC Probe Puts Wall Street Leverage Risk Back in Focus
• Neutral Sentiment: Citi analyst activity on Oracle, BMW and Forvia reflects the bank’s research and advisory business, but the recommendations are directed at those companies and have little direct impact on Citigroup’s equity value. Oracle Stock Gains Premarket
• Neutral Sentiment: Citigroup entities reported exiting substantial-holder status in Australia’s IDP Education and Healius. These appear to be portfolio or position disclosures rather than changes to Citi’s core business, making the immediate stock impact limited. Citi Group Entities Exit Substantial Holder Status in IDP Education
• Negative Sentiment: The SEC reportedly subpoenaed Citigroup, Goldman Sachs, JPMorgan and Bank of America over margin lending to hedge fund Situational Awareness, which suffered a 67% drawdown during an AI-stock sell-off. The probe puts leverage, collateral and counterparty-risk controls under scrutiny; potential fines, litigation costs or tighter lending requirements could weigh on Citi’s profitability, although the ultimate exposure remains unclear. SEC Probe Puts Wall Street Leverage Risk Back in Focus

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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