Citigroup Inc. $C is Delta Global Management LP’s 2nd Largest Position

Delta Global Management LP reduced its position in Citigroup Inc. (NYSE:C) by 13.0% in the 1st quarter, Holdings Channel.com reports. The fund owned 511,933 shares of the company’s stock after selling 76,554 shares during the quarter. Citigroup comprises about 4.8% of Delta Global Management LP’s holdings, making the stock its 2nd largest position. Delta Global Management LP’s holdings in Citigroup were worth $58,058,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Whipplewood Advisors LLC purchased a new stake in Citigroup in the 1st quarter valued at $25,000. Mcguire Capital Advisors Inc. acquired a new stake in Citigroup during the 4th quarter worth $25,000. Richards Merrill & Peterson Inc. acquired a new stake in Citigroup during the 4th quarter worth $28,000. TD Capital Management LLC purchased a new position in Citigroup during the 4th quarter worth $28,000. Finally, Scarborough Advisors LLC purchased a new position in Citigroup during the 1st quarter worth $29,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Up 0.1%

Shares of NYSE:C opened at $131.95 on Friday. The company has a market cap of $225.06 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 0.60 and a beta of 1.11. The firm’s 50-day simple moving average is $135.01 and its 200-day simple moving average is $123.82. 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 Inc. has a fifty-two week low of $87.94 and a fifty-two week high of $147.96.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, July 14th. The company reported $3.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.74 by $0.41. The company had revenue of $24.75 billion for the quarter, compared to analyst estimates of $23.74 billion. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.96 EPS. As a group, equities research analysts predict that Citigroup Inc. will post 11.2 earnings per share for the current year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Monday, August 3rd will be issued a $0.67 dividend. 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. The ex-dividend date of this dividend is Monday, August 3rd. Citigroup’s dividend payout ratio is 25.92%.

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

Wall Street Analysts Forecast Growth

C has been the subject of a number of research reports. Keefe, Bruyette & Woods upped their target price on shares of Citigroup from $140.00 to $153.00 and gave the company an “outperform” rating in a report on Friday, May 8th. JPMorgan Chase & Co. boosted their price target on Citigroup from $135.50 to $149.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. 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. The Goldman Sachs Group increased their price objective on Citigroup from $137.00 to $151.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. Finally, Morgan Stanley lifted their target price on Citigroup from $154.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $145.67.

Insider Transactions at Citigroup

In other news, Director John Cunningham Dugan sold 2,117 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $125.30, for a total transaction of $265,260.10. Following the sale, the director owned 12,194 shares of the company’s stock, valued at $1,527,908.20. The trade was a 14.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.11% of the company’s stock.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi analysts said the recent pullback in semiconductor stocks looks like a buying opportunity, which may support broader risk appetite and help sentiment around markets that Citigroup covers through its trading and research franchises. Pullback in chip stocks is a buying opportunity, Citi says
• Positive Sentiment: Citigroup was highlighted in a new CMBS deal update, after pricing an $817 million multifamily conduit transaction, reinforcing Citi’s role as an active lender and securitization player in U.S. commercial real estate. Citigroup (C) Sets Post GFC Record With $817 Million Multifamily CMBS Deal
• Neutral Sentiment: Citigroup reportedly closed a bullish South African rand trade after the currency looked “fragile” following South Africa’s surprise rate hold. This is more of a trading update than a major earnings driver, but it shows Citi is actively adjusting macro positions. Citi Drops Rand Bet After South Africa’s Surprise Rate Hold
• Neutral Sentiment: Separately, a headline noting Citi’s bearish view on the “Magnificent Seven” may reflect the bank’s broader market outlook, but it does not directly change Citigroup’s fundamentals. Wall Street Bank Just Declared the Magnificent 7 as “Dead” — What Happens Next?

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.