Te Ahumairangi Investment Management Ltd decreased its position in Citigroup Inc. (NYSE:C – Free Report) by 24.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 79,408 shares of the company’s stock after selling 25,762 shares during the period. Citigroup comprises approximately 1.7% of Te Ahumairangi Investment Management Ltd’s investment portfolio, making the stock its 12th biggest holding. Te Ahumairangi Investment Management Ltd’s holdings in Citigroup were worth $9,266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Verus Capital Partners LLC raised its holdings in shares of Citigroup by 3.1% during the fourth quarter. Verus Capital Partners LLC now owns 2,748 shares of the company’s stock valued at $321,000 after acquiring an additional 82 shares in the last quarter. Elmwood Wealth Management Inc. raised its holdings in shares of Citigroup by 1.3% during the fourth quarter. Elmwood Wealth Management Inc. now owns 6,845 shares of the company’s stock valued at $799,000 after acquiring an additional 85 shares in the last quarter. Park Place Capital Corp raised its holdings in shares of Citigroup by 16.7% during the fourth quarter. Park Place Capital Corp now owns 595 shares of the company’s stock valued at $69,000 after acquiring an additional 85 shares in the last quarter. D.B. Root & Company LLC raised its holdings in 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 in the last quarter. Finally, Cornerstone Wealth Management LLC raised its holdings in 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 purchasing an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.
Insider Activity
In related news, insider Edward Skyler sold 25,000 shares of Citigroup stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $131.41, for a total value of $3,285,250.00. Following the completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Cunningham Dugan sold 2,117 shares of Citigroup stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $125.30, for a total value of $265,260.10. Following the completion of the sale, the director owned 12,194 shares of the company’s stock, valued at $1,527,908.20. The trade was a 14.79% 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 company insiders.
Key Citigroup News
- Positive Sentiment: Citigroup is rolling out tokenized depositary receipts for private-company shares, a move that could broaden access to private markets and create a new growth avenue for the bank. Article title
- Positive Sentiment: Reuters reported that Citi hired Ryan Beaupré as a managing director in its consumer and retail investment banking group, signaling continued effort to expand the franchise and deepen client coverage. Article title
- Positive Sentiment: Citigroup’s recent earnings beat and revenue growth continue to support the stock, with Q1 EPS and revenue both topping expectations and underscoring improving operating momentum. Article title
- Neutral Sentiment: President Trump publicly praised Citigroup and CEO Jane Fraser for M&A advisory work, which helped sentiment, but some reports noted the ranking was overstated, limiting the fundamental impact. Article title
- Neutral Sentiment: Market commentary also pointed to Citigroup’s turnaround progress, solid trading conditions, and a constructive investment banking outlook, which supports the stock but is largely a continuation of existing optimism. Article title
Citigroup Price Performance
C opened at $137.89 on Friday. The stock has a 50-day moving average price of $126.85 and a 200-day moving average price of $117.91. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market cap of $235.18 billion, a PE ratio of 17.09, a P/E/G ratio of 0.60 and a beta of 1.12. Citigroup Inc. has a 1 year low of $76.11 and a 1 year high of $138.23.
Citigroup (NYSE:C – Get Free Report) last released its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, topping the consensus estimate of $2.63 by $0.43. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The company had revenue of $24.63 billion during the quarter, compared to the consensus estimate of $22.96 billion. During the same period last year, the company earned $1.96 EPS. Citigroup’s revenue for the quarter was up 14.1% on a year-over-year basis. Sell-side analysts predict that Citigroup Inc. will post 10.68 earnings per share for the current fiscal year.
Citigroup declared that its board has initiated a share 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 stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
Citigroup Announces Dividend
The firm also recently disclosed 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 annualized dividend and a yield of 1.7%. The ex-dividend date was Monday, May 4th. Citigroup’s dividend payout ratio (DPR) is presently 29.74%.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Citigroup in a report on Monday, April 20th. Truist Financial set a $147.00 price objective on Citigroup in a report on Friday, May 1st. JPMorgan Chase & Co. increased their price objective on Citigroup from $131.00 to $135.50 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Zacks Research downgraded Citigroup from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Finally, Barclays increased their price objective on Citigroup from $146.00 to $154.00 and gave the stock an “overweight” 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 assigned a Hold rating to the stock. According to data from MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and an average price target of $137.62.
Check Out Our Latest Analysis on C
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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