Tepp RIA LLC cut its holdings in Citigroup Inc. (NYSE:C – Free Report) by 67.0% in the fourth quarter, HoldingsChannel reports. The firm owned 4,428 shares of the company’s stock after selling 9,001 shares during the period. Citigroup accounts for approximately 0.5% of Tepp RIA LLC’s portfolio, making the stock its 22nd biggest holding. Tepp RIA LLC’s holdings in Citigroup were worth $517,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Wolff Wiese Magana LLC boosted its holdings in Citigroup by 87.6% in the third quarter. Wolff Wiese Magana LLC now owns 257 shares of the company’s stock worth $26,000 after purchasing an additional 120 shares in the last quarter. Richards Merrill & Peterson Inc. bought a new stake in Citigroup during the fourth quarter valued at about $28,000. Dunhill Financial LLC boosted its holdings in Citigroup by 92.2% during the third quarter. Dunhill Financial LLC now owns 319 shares of the company’s stock valued at $32,000 after acquiring an additional 153 shares during the period. Luken Investment Analytics LLC bought a new stake in Citigroup during the fourth quarter valued at about $32,000. Finally, Guerra Advisors Inc bought a new stake in Citigroup during the third quarter valued at about $33,000. 71.72% of the stock is currently owned by institutional investors.
Insider Activity
In other news, insider Edward Skyler sold 25,000 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $131.41, for a total transaction of $3,285,250.00. Following the completion of the transaction, the insider owned 182,022 shares of the company’s stock, valued at approximately $23,919,511.02. This represents a 12.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Cunningham Dugan sold 2,117 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $125.30, for a total transaction of $265,260.10. Following the transaction, the director directly owned 12,194 shares of the company’s stock, valued at $1,527,908.20. This represents a 14.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 94,435 shares of company stock valued at $11,030,074. Insiders own 0.11% of the company’s stock.
Citigroup Stock Up 0.4%
Citigroup (NYSE:C – Get Free Report) last announced its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.63 by $0.43. The business had revenue of $24.63 billion during the quarter, compared to analyst estimates of $22.96 billion. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.96 earnings per share. On average, equities research analysts expect that Citigroup Inc. will post 10.65 earnings per share for the current year.
Citigroup declared that its board has initiated a stock buyback program on Thursday, May 7th that allows the company to repurchase $30.00 billion in shares. This repurchase authorization allows the company to buy up to 13.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
Citigroup Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Monday, May 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, May 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.9%. Citigroup’s dividend payout ratio is currently 29.74%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on C shares. Truist Financial set a $147.00 price target on shares of Citigroup in a report on Friday, May 1st. Wells Fargo & Company upped their price target on shares of Citigroup from $160.00 to $162.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Zacks Research cut shares of Citigroup from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. JPMorgan Chase & Co. upped their price target on shares of Citigroup from $131.00 to $135.50 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, The Goldman Sachs Group upped their price target on shares of Citigroup from $137.00 to $151.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $137.62.
Key Citigroup News
Here are the key news stories impacting Citigroup this week:
- Positive Sentiment: Analysts said Citigroup’s strong earnings, excess capital, and active buybacks are supporting a robust capital return strategy, which is positive for shareholder value. What’s Fueling Citigroup’s Robust Capital Return Strategy?
- Positive Sentiment: Citigroup’s recent earnings report beat expectations on both profit and revenue, helping support investor confidence in the bank’s operating momentum.
- Neutral Sentiment: Citigroup disclosed routine participation notifications and a director stock sale, but neither item appears large enough to materially change the long-term investment thesis. SEC Director Sale Filing
- Neutral Sentiment: Citi strategists’ market commentary on US equities and the Kospi index reflects the firm’s broader research activity, but it is not a direct catalyst for Citigroup shares. Citi’s Manthey Says US Stock Outperformance Has Further to Run
- Negative Sentiment: Director John Cunningham Dugan sold 2,117 shares, a modest insider sale that could slightly weigh on sentiment even though the amount is not especially large.
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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