Keudell Morrison Wealth Management bought a new stake in shares of Citigroup Inc. (NYSE:C – Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,076 shares of the company’s stock, valued at approximately $476,000.
A number of other large investors have also bought and sold shares of the stock. Elmwood Wealth Management Inc. lifted its position in Citigroup by 1.3% in the fourth quarter. Elmwood Wealth Management Inc. now owns 6,845 shares of the company’s stock valued at $799,000 after purchasing an additional 85 shares during the last quarter. Park Place Capital Corp grew its holdings in shares of Citigroup by 16.7% in the fourth quarter. Park Place Capital Corp now owns 595 shares of the company’s stock worth $69,000 after purchasing an additional 85 shares during the last quarter. D.B. Root & Company LLC grew its holdings in shares of Citigroup by 2.8% in the fourth quarter. D.B. Root & Company LLC now owns 3,191 shares of the company’s stock worth $372,000 after purchasing an additional 87 shares during the last quarter. Cornerstone Wealth Management LLC increased its stake in shares of Citigroup by 0.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 10,393 shares of the company’s stock worth $1,213,000 after buying an additional 87 shares during the period. Finally, N.E.W. Advisory Services LLC raised its holdings in Citigroup by 14.9% during the 4th quarter. N.E.W. Advisory Services LLC now owns 703 shares of the company’s stock valued at $82,000 after buying an additional 91 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
C has been the subject of several analyst reports. The Goldman Sachs Group increased their price target on shares of Citigroup from $137.00 to $151.00 and gave the company a “buy” rating in a research report on Wednesday, April 15th. Jefferies Financial Group initiated coverage on shares of Citigroup in a research report on Thursday, March 26th. They issued a “buy” rating and a $135.00 price objective on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citigroup in a research note on Monday, April 20th. Keefe, Bruyette & Woods raised their target price on Citigroup from $140.00 to $153.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Finally, Wall Street Zen upgraded Citigroup from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $137.62.
Trending Headlines about Citigroup
Here are the key news stories impacting Citigroup this week:
- Positive Sentiment: Citigroup announced a private credit partnership with BlackRock’s HPS Investment Partners, a large €15 billion deal aimed at expanding direct lending across Europe, the U.K., and later the Middle East. The move could help Citi deepen its presence in private credit and generate new fee income. Citigroup (C) Forms Private Credit Partnership With BlackRock
- Positive Sentiment: Citi’s wealth business is also expanding, with management saying a significant share of new global hiring will be focused on Asia, where the private bank is growing faster and producing better productivity. That supports the bank’s restructuring story and long-term profitability goals. Citi to boost Asia wealth business with ‘significant’ hires, global head says
- Positive Sentiment: Citigroup shareholder approval of an expanded stock incentive plan suggests investors are backing management’s compensation and retention strategy, which can help support execution on the company’s turnaround plan. Citigroup Shareholders Approve Expanded Stock Incentive Plan
- Positive Sentiment: Citigroup also continues to benefit from a broader favorable view from analysts, including comments that Q1 results confirmed improving earnings momentum. Citigroup Upgraded As Q1 Results Confirm Earnings Improvement Direction For Banking Giant
- Neutral Sentiment: Separate commentary noted Citi expects India IPO activity to recover later this year, which is positive for capital markets activity but is more of a medium-term driver than an immediate stock catalyst. Citi sees India IPOs hitting fresh records despite challenges
- Negative Sentiment: One potential overhang is governance pressure: a separate report said more Citi shareholders voted against the bank’s say-on-pay resolution, reflecting concern about executive compensation and Jane Fraser’s pay package. More Citi shareholders vote ‘no’ on say-on-pay
Insider Activity
In other Citigroup news, insider Edward Skyler sold 25,000 shares of Citigroup stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $131.41, for a total transaction of $3,285,250.00. Following the sale, the insider directly owned 182,022 shares of the company’s stock, valued at approximately $23,919,511.02. The trade was a 12.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Cunningham Dugan sold 2,117 shares of the company’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 value of $265,260.10. Following the transaction, the director owned 12,194 shares in the company, valued at $1,527,908.20. This trade represents a 14.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.11% of the company’s stock.
Citigroup Stock Down 0.1%
Shares of Citigroup stock opened at $125.10 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. Citigroup Inc. has a 12-month low of $71.65 and a 12-month high of $135.29. The company has a market cap of $213.36 billion, a P/E ratio of 15.50, a PEG ratio of 0.56 and a beta of 1.14. The company’s fifty day simple moving average is $121.04 and its two-hundred day simple moving average is $114.84.
Citigroup (NYSE:C – Get Free Report) last posted its earnings results on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, topping the consensus estimate of $2.63 by $0.43. The firm had revenue of $24.63 billion during the quarter, compared to analysts’ expectations of $22.96 billion. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period last year, the company posted $1.96 EPS. Research analysts anticipate that Citigroup Inc. will post 10.65 EPS for the current year.
Citigroup Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were issued a $0.60 dividend. The ex-dividend date was Monday, May 4th. This represents a $2.40 annualized dividend and a yield of 1.9%. Citigroup’s dividend payout ratio (DPR) is 29.74%.
Citigroup announced that its Board of Directors has authorized a stock buyback program on Thursday, May 7th that permits the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 13.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
Citigroup Company 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.
Read More
- Five stocks we like better than Citigroup
- SpaceX IPO: Opportunity? Or the Ultimate Hype Trade?
- CAVA Group’s Stock Looks Delicious After Strong Earnings
- Lowe’s Finds Support at $215 After Q1 Earnings Sell-Off
- Deere Beats Q2 Estimates, But Ag Weakness Weighs on Outlook
Want to see what other hedge funds are holding C? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citigroup Inc. (NYSE:C – Free Report).
Receive News & Ratings for Citigroup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citigroup and related companies with MarketBeat.com's FREE daily email newsletter.
