6,184 Citigroup Inc. $C Shares Purchased by Cim Investment Management Inc.

Cim Investment Management Inc. boosted its stake in Citigroup Inc. (NYSE:C) by 99.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,378 shares of the company’s stock after buying an additional 6,184 shares during the period. Cim Investment Management Inc.’s holdings in Citigroup were worth $1,732,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp acquired a new stake in shares of Citigroup in the 2nd quarter worth about $3,244,602,000. Nykredit A S acquired a new position in Citigroup during the 2nd quarter valued at about $458,275,000. State Street Corp grew its position in Citigroup by 3.7% in the 2nd quarter. State Street Corp now owns 80,956,349 shares of the company’s stock worth $11,199,986,000 after purchasing an additional 2,913,701 shares during the last quarter. SEB Asset Management AB bought a new position in Citigroup in the 1st quarter worth about $252,972,000. Finally, OMERS ADMINISTRATION Corp increased its stake in shares of Citigroup by 1,137.1% in the second quarter. OMERS ADMINISTRATION Corp now owns 1,840,374 shares of the company’s stock valued at $257,579,000 after purchasing an additional 1,691,611 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Citigroup Price Performance

Shares of C traded down $0.50 during midday trading on Tuesday, reaching $130.81. The stock had a trading volume of 7,604,908 shares, compared to its average volume of 12,602,708. 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 company has a market capitalization of $223.11 billion, a P/E ratio of 14.13, a P/E/G ratio of 0.60 and a beta of 1.12. The firm’s 50 day moving average price is $134.33 and its 200-day moving average price is $130.15. Citigroup Inc. has a 52 week low of $93.66 and a 52 week high of $147.96.

Citigroup (NYSE:C) last released its earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share (EPS) 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 firm had revenue of $24.77 billion for the quarter, compared to analyst estimates of $23.74 billion. During the same period in the previous year, the company earned $1.96 earnings per share. Citigroup’s revenue was up 14.5% compared to the same quarter last year. On average, analysts forecast that Citigroup Inc. will post 11.2 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 3rd were paid a $0.67 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $2.68 annualized dividend and a dividend yield of 2.0%. This is an increase from Citigroup’s previous quarterly dividend of $0.60. Citigroup’s dividend payout ratio is presently 28.94%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on C shares. Bank of America boosted their price objective on Citigroup from $170.00 to $176.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Royal Bank Of Canada reiterated an “outperform” rating and set a $150.00 price target on shares of Citigroup in a research report on Wednesday, July 15th. Weiss Ratings raised Citigroup from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, August 24th. Wells Fargo & Company raised 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. Finally, HSBC lifted their price objective on shares of Citigroup from $161.00 to $164.00 and gave the company a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $149.50.

Key Headlines Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Expanded Coinbase stablecoin partnership: Citi is deepening its relationship with Coinbase to provide institutional clients with virtual accounts, stablecoin-to-fiat conversion, payment capabilities and regulated settlement infrastructure. The initiative could strengthen Citi’s position in digital payments and generate new transaction-banking revenue as institutional crypto adoption grows. Citigroup Deepens Stablecoin Push With Expanded Coinbase Tie-Up
• Positive Sentiment: Global instant-payments expansion: Citi became the first bank to launch multi-market instant payments through Swift, connecting clients to local payment rails in markets including Australia, the United Kingdom and India. The service expands WorldLink’s reach across 135 currencies and 54 markets while reducing the need for separate local banking relationships. Citi Becomes First Bank to Launch Multi-Market Instant Payments
• Positive Sentiment: Earnings expectations remain constructive: Analysts expect third-quarter earnings of approximately $2.64 per share and revenue of $23.75 billion, with the report scheduled for October 13. The outlook follows Citi’s latest quarterly earnings beat and supports the view that restructuring and operating improvements may be gaining traction. Citigroup Likely to Report Higher Q3 Earnings
• Positive Sentiment: Analyst support and potential investment-banking fees: HSBC raised its Citigroup price target to $164 and maintained a Buy rating. Citi is also reportedly preparing a consortium for a potential $3 billion Banamex IPO, which could create advisory and underwriting revenue. HSBC Adjusts Price Target on Citigroup
• Neutral Sentiment: Investor-services modernization: Citi launched an AI-enhanced Market Guide platform using data from its global custody network. The announcement reinforces Citi’s technology strategy, although the immediate financial impact is unclear. Citi Investor Services Reimagines Market Guide Platform
• Negative Sentiment: Positive announcements have not produced a clear near-term catalyst: Citi’s recent share-price weakness suggests investors may be waiting for concrete evidence of earnings growth and monetization from stablecoins, instant payments and other digital initiatives. Broader concerns about inflation and higher interest rates may also be limiting enthusiasm for bank stocks.

Citigroup Company Profile

Citigroup Inc is a global financial services company headquartered in New York City and listed on the New York Stock Exchange under the symbol C. Through its subsidiaries and businesses, Citi provides banking, lending, investment, payments, wealth management and other financial services to consumers, businesses, governments and institutional clients.

Citi’s principal businesses include Services, which supports institutional clients with treasury, trade, securities services and related solutions; Markets, which provides sales, trading, research and financing services; Banking, which offers investment banking and corporate banking; and Wealth, which provides private banking and wealth management.