Plato Investment Management Ltd Makes New $11.95 Million Investment in Citigroup Inc. $C

by · The Cerbat Gem

Plato Investment Management Ltd bought a new stake in shares of Citigroup Inc. (NYSE:C – Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 85,879 shares of the company’s stock, valued at approximately $11,949,000. Citigroup comprises approximately 0.7% of Plato Investment Management Ltd’s portfolio, making the stock its 27th largest holding.

A number of other large investors also recently made changes to their positions in the stock. Brighton Jones LLC grew its stake in shares of Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after purchasing an additional 12,499 shares during the period. Sivia Capital Partners LLC increased its holdings in Citigroup by 20.5% in the second quarter. Sivia Capital Partners LLC now owns 9,805 shares of the company’s stock valued at $835,000 after purchasing an additional 1,669 shares during the last quarter. United Bank acquired a new position in Citigroup in the second quarter valued at about $972,000. Osterweis Capital Management Inc. boosted its holdings in Citigroup by 3,016.7% during the second quarter. Osterweis Capital Management Inc. now owns 935 shares of the company’s stock worth $80,000 after buying an additional 905 shares during the last quarter. Finally, HUB Investment Partners LLC boosted its holdings in Citigroup by 26.9% during the second quarter. HUB Investment Partners LLC now owns 15,287 shares of the company’s stock worth $1,301,000 after buying an additional 3,238 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analyst Ratings Changes

C has been the subject of a number of recent analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $150.00 price target on shares of Citigroup in a research note on Wednesday, July 15th. Zacks Research raised shares of Citigroup from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Keefe, Bruyette & Woods boosted their price objective on shares of Citigroup from $140.00 to $153.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citigroup in a research note on Friday, July 17th. Finally, Oppenheimer lowered shares of Citigroup from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 30th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $145.22.

Check Out Our Latest Stock Report on C

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

  • Positive Sentiment: Kard acquisition strengthens U.S. cards strategy: Citi agreed to acquire Kard Financial, a commerce-media and rewards platform that connects banks, fintechs and merchants. The deal is intended to improve personalized offers, customer engagement and merchant-funded rewards, potentially supporting growth and profitability in Citi’s U.S. Consumer Cards business. Terms were not disclosed. Citi Plans to Acquire Kard to Deliver More Personalized Rewards
  • Positive Sentiment: New financing activity highlights institutional banking strength: Citibank acted as lender and agent in an approximately $4.6 billion syndicated loan supporting a Japan-U.S. strategic investment initiative. The transaction reinforces Citi’s cross-border corporate and government-related financing capabilities and could generate additional fees and client relationships. Citigroup Participates in Financing for Japan-U.S. Strategic Investment Initiative
  • Positive Sentiment: Large asset-servicing mandate adds recurring revenue potential: Citi Investor Services won a full middle-office mandate from Aegon Asset Management covering $380 billion in assets under management, expanding an existing 20-year relationship. The award supports the growth of Citi’s fee-based services and institutional franchise. Citi Investor Services Wins US$380 Billion Middle Office Mandate from Aegon Asset Management
  • Neutral Sentiment: Management supports clearer crypto rules: CEO Jane Fraser called a strong version of the proposed CLARITY Act “excellent for the system,” though unresolved issues remain for banks. Clearer regulation could eventually expand institutional digital-asset activity, but the near-term earnings impact is uncertain. Bitcoin to $1M If CLARITY Act Passes? Citi CEO Discusses the CLARITY Act
  • Negative Sentiment: Valuation and macro risks could limit upside: Citi’s stock has advanced substantially over the past year, prompting investors to question how much of the turnaround is already reflected in the price. The bank also noted softer household and business borrowing in China, while its commodities team is cautious about chasing rallies in gold—factors that could temper market enthusiasm. Is Citigroup a Solid Investment Option After a 51.2% Jump in a Year?

Citigroup Trading Down 0.1%

NYSE:C opened at $139.21 on Monday. 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 business’s 50-day simple moving average is $137.38 and its 200-day simple moving average is $125.69. Citigroup Inc. has a fifty-two week low of $90.68 and a fifty-two week high of $147.96. The stock has a market capitalization of $237.43 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 0.63 and a beta of 1.12.

Citigroup (NYSE:C – Get Free Report) last posted 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. The business had revenue of $24.77 billion during the quarter, compared to analysts’ expectations of $23.74 billion. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.Citigroup’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.96 EPS. Sell-side analysts expect that Citigroup Inc. will post 11.2 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, August 3rd will be given a dividend of $0.67 per share. This is a positive change from Citigroup’s previous quarterly dividend of $0.60. This represents a $2.68 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, August 3rd. Citigroup’s payout ratio is currently 28.94%.

Citigroup declared that its Board of Directors has authorized a share buyback program on Thursday, May 7th that authorizes the company to repurchase $30.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 13.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Citigroup Profile

(Free Report)

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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