Van Lanschot Kempen Investment Management N.V. cut its holdings in shares of Citigroup Inc. (NYSE:C – Free Report) by 84.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 443,705 shares of the company’s stock after selling 2,373,324 shares during the period. Van Lanschot Kempen Investment Management N.V.’s holdings in Citigroup were worth $51,776,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the business. Richards Merrill & Peterson Inc. acquired a new position in shares of Citigroup in the 4th quarter worth approximately $28,000. Dunhill Financial LLC lifted its position 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 purchasing an additional 153 shares during the period. Luken Investment Analytics LLC acquired a new position in shares of Citigroup in the 4th quarter worth approximately $32,000. High Note Wealth LLC lifted its position 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 purchasing an additional 140 shares during the period. Finally, Entrust Financial LLC acquired a new position in shares of Citigroup in the 4th quarter worth approximately $34,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
C has been the topic of a number of recent analyst reports. Zacks Research downgraded shares of Citigroup from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Royal Bank Of Canada restated an “outperform” rating and issued a $139.00 price target on shares of Citigroup in a research report on Wednesday, April 15th. Weiss Ratings restated a “buy (b)” rating on shares of Citigroup in a research report on Monday, April 20th. Barclays boosted their price target on shares of Citigroup from $146.00 to $154.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Citigroup from $131.00 to $135.50 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. One investment 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 company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $137.62.
Key Citigroup News
Here are the key news stories impacting Citigroup this week:
- Positive Sentiment: Citigroup launched tokenized Digital Depositary Receipts, creating a new blockchain-based way for clients to gain exposure to private companies and for issuers to tap liquidity, reinforcing Citi’s push into next-generation capital markets. Citigroup Is Rolling Out Tokenized Shares of Private Companies
- Positive Sentiment: Related coverage said Citi is expanding access to private markets with tokenized private-share trading, which could open a new fee-generating business line and strengthen its innovation story with large clients. Citigroup Expands Access to Private Markets With Tokenized Depositary Receipts
- Positive Sentiment: Trump praised Citigroup and CEO Jane Fraser as a top M&A adviser, which helped fuel momentum and reinforced confidence in Citi’s investment banking comeback. Citigroup shares outperform down market after Trump endorsement
- Positive Sentiment: Citi also continued building out its consumer and retail investment banking franchise with a new managing director hire, suggesting management is still investing in growth areas. Citi hires Ryan Beaupré as MD in consumer and retail investment banking push
- Neutral Sentiment: Citi completed the sale of its Polish consumer banking business, continuing its multi-year retreat from underperforming overseas markets. This supports simplification, but it also shows ongoing shrinkage in some international operations. Citi’s overseas retreat advances with sale of Polish business
- Neutral Sentiment: Reports that regulators are probing banks’ use of AI could raise compliance scrutiny for the sector, but there was no Citi-specific issue mentioned. Bank Regulators Probe Industry Use of AI
Citigroup Stock Up 1.2%
Citigroup stock opened at $139.68 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.59. Citigroup Inc. has a 12-month low of $76.11 and a 12-month high of $141.12. The firm’s fifty day moving average is $127.34 and its 200 day moving average is $118.06. The company has a market capitalization of $238.23 billion, a PE ratio of 17.31, a PEG ratio of 0.62 and a beta of 1.12.
Citigroup (NYSE:C – Get Free Report) last released its earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.63 by $0.43. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The company had revenue of $24.63 billion for the quarter, compared to the consensus estimate of $22.96 billion. During the same quarter in the previous year, the company earned $1.96 EPS. Citigroup’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, sell-side analysts predict that Citigroup Inc. will post 10.68 EPS for the current fiscal year.
Citigroup Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Monday, May 4th. Citigroup’s payout ratio is presently 29.74%.
Citigroup announced that its Board of Directors has approved a share buyback plan on Thursday, May 7th that allows the company to buyback $30.00 billion in shares. This buyback authorization allows the company to reacquire up to 13.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
Insiders Place Their Bets
In related news, Director John Cunningham Dugan sold 2,117 shares of the business’s stock in a transaction on 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 owned 12,194 shares in the company, valued at $1,527,908.20. The trade was a 14.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edward Skyler sold 25,000 shares of the business’s stock in a transaction on 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 transaction, the insider owned 182,022 shares in the company, valued at $23,919,511.02. The trade was a 12.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.11% of the stock is owned by insiders.
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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