Pinnbrook Capital Management LP Makes New $1.86 Million Investment in Citigroup Inc. $C

Pinnbrook Capital Management LP bought a new position in Citigroup Inc. (NYSE:C) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 13,300 shares of the company’s stock, valued at approximately $1,861,000.

A number of other large investors have also recently made changes to their positions in C. Whipplewood Advisors LLC purchased a new position in Citigroup in the 1st quarter worth about $25,000. Mcguire Capital Advisors Inc. purchased a new stake in Citigroup in the 4th quarter valued at about $25,000. Paladin Partners LLC purchased a new stake in Citigroup in the 2nd quarter valued at about $27,000. TD Capital Management LLC bought a new position in Citigroup in the 4th quarter worth about $28,000. Finally, IMG Wealth Management Inc. grew its stake in Citigroup by 197.6% in the 1st quarter. IMG Wealth Management Inc. now owns 244 shares of the company’s stock worth $28,000 after acquiring an additional 162 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

C has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Citigroup from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Citigroup in a research note on Friday, July 17th. Bank of America lifted their target price on Citigroup from $170.00 to $176.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. upped their target price on Citigroup from $135.50 to $149.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $150.00 price target on shares of Citigroup in a research report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and an average target price of $145.22.

Citigroup Price Performance

Shares of C opened at $131.46 on Friday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 0.99. The company has a 50 day moving average price of $137.20 and a 200-day moving average price of $126.29. Citigroup Inc. has a fifty-two week low of $92.84 and a fifty-two week high of $147.96. The stock has a market capitalization of $224.22 billion, a PE ratio of 14.20, a PEG ratio of 0.59 and a beta of 1.12.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, July 14th. The company reported $3.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.74 by $0.41. The company had revenue of $24.77 billion for the quarter, compared to analyst estimates of $23.74 billion. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. Citigroup’s revenue was up 14.5% compared to the same quarter last year. During the same period last year, the company posted $1.96 earnings per share. Equities analysts predict that Citigroup Inc. will post 11.2 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, August 3rd will be issued a $0.67 dividend. The ex-dividend date is Monday, August 3rd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from Citigroup’s previous quarterly dividend of $0.60. Citigroup’s dividend payout ratio (DPR) is 28.94%.

Citigroup declared that its board has initiated a stock repurchase plan 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 plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Trending Headlines about Citigroup

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

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.