Capital International Sarl lifted its position in Citigroup Inc. (NYSE:C – Free Report) by 5.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 401,047 shares of the company’s stock after acquiring an additional 22,151 shares during the quarter. Capital International Sarl’s holdings in Citigroup were worth $46,798,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in C. Richards Merrill & Peterson Inc. bought a new stake in shares of Citigroup in the 4th quarter worth $28,000. Dunhill Financial LLC grew its stake in shares of Citigroup by 92.2% in the 3rd quarter. Dunhill Financial LLC now owns 319 shares of the company’s stock worth $32,000 after acquiring an additional 153 shares in the last quarter. Luken Investment Analytics LLC bought a new stake in shares of Citigroup in the 4th quarter worth $32,000. High Note Wealth LLC grew its stake in shares of Citigroup by 107.7% in the 4th quarter. High Note Wealth LLC now owns 270 shares of the company’s stock worth $32,000 after acquiring an additional 140 shares in the last quarter. Finally, Entrust Financial LLC bought a new stake in shares of Citigroup in the 4th quarter worth $34,000. Institutional investors own 71.72% of the company’s stock.
Analysts Set New Price Targets
Several research firms have recently issued reports on C. JPMorgan Chase & Co. upped their target price on shares of Citigroup from $131.00 to $135.50 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Jefferies Financial Group began coverage on shares of Citigroup in a research note on Thursday, March 26th. They issued a “buy” rating and a $135.00 target price for the company. Morgan Stanley upped their target price on shares of Citigroup from $140.00 to $144.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Citigroup in a research note on Monday, April 20th. Finally, Truist Financial set a $147.00 target price on shares of Citigroup in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.62.
Insider Transactions at Citigroup
In related news, Director John Cunningham Dugan sold 2,117 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $125.30, for a total value of $265,260.10. Following the transaction, the director directly owned 12,194 shares of the company’s stock, valued at approximately $1,527,908.20. The trade was a 14.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the insider directly owned 182,022 shares in the company, valued at approximately $23,919,511.02. This trade represents a 12.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.11% of the stock is currently owned by insiders.
Citigroup Price Performance
Shares of NYSE:C opened at $132.62 on Friday. The company’s 50-day moving average is $124.87 and its 200 day moving average is $116.75. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $226.19 billion, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 0.59 and a beta of 1.12. Citigroup Inc. has a fifty-two week low of $76.11 and a fifty-two week high of $135.83.
Citigroup (NYSE:C – Get Free Report) last issued its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.43. The company had revenue of $24.63 billion for the quarter, compared to the consensus estimate of $22.96 billion. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.96 EPS. On average, equities research analysts forecast that Citigroup Inc. will post 10.68 earnings per share for the current year.
Citigroup Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, May 4th. Citigroup’s payout ratio is 29.74%.
Citigroup announced that its board has approved a stock buyback plan on Thursday, May 7th that allows the company to buyback $30.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 13.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.
Key Citigroup News
Here are the key news stories impacting Citigroup this week:
- Positive Sentiment: Citigroup reshuffled senior leadership, naming Margo Pilic head of strategy, M&A, and investor relations, a move that could improve execution and simplify decision-making as CEO Jane Fraser continues the bank’s transformation. Citigroup Reshapes Leadership As It Pushes Into Tokenized Deposits
- Positive Sentiment: The bank is joining JPMorgan Chase, Bank of America, and other large lenders on a blockchain-based tokenized deposit network, signaling that Citi wants to stay competitive in next-generation payments and possibly benefit from lower-friction transaction infrastructure. JPMorgan, Citi and Big Banks Plan New Tokenized Deposit System to Answer Crypto
- Positive Sentiment: Investors are also responding to Citi’s growing use of AI in operations, including a document-review system that cuts account-opening review time from about an hour to 15 minutes, which may point to better efficiency and cost savings over time. Citi Used AI to Shrink a 60-Minute Document Review to 15 Minutes
- Neutral Sentiment: Citi also announced redemptions of $3.15 billion of notes due in 2027, a routine balance-sheet management move that does not appear to be a major catalyst on its own. Citigroup Announces $2.75 Billion Redemption…
- Neutral Sentiment: Several headlines about Citi’s stock becoming overextended and the broader market looking “frothy” may temper enthusiasm, but they read more like caution flags than direct negatives for the company’s fundamentals. The stock market is at its frothiest…
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.
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