Nicolet Advisory Services LLC boosted its position in Citigroup Inc. (NYSE:C – Free Report) by 38.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 14,398 shares of the company’s stock after purchasing an additional 3,972 shares during the period. Nicolet Advisory Services LLC’s holdings in Citigroup were worth $1,695,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Truist Financial Corp lifted its stake in Citigroup by 4.7% in the 4th quarter. Truist Financial Corp now owns 375,977 shares of the company’s stock valued at $43,873,000 after purchasing an additional 16,744 shares during the last quarter. Kovitz Investment Group Partners LLC raised its holdings in Citigroup by 17.3% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 663,416 shares of the company’s stock valued at $67,337,000 after acquiring an additional 98,082 shares during the period. Gunderson Capital Management Inc. bought a new position in Citigroup in the 4th quarter valued at about $7,165,000. Brighton Jones LLC raised its holdings in Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after acquiring an additional 12,499 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in Citigroup by 4.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 416,872 shares of the company’s stock valued at $42,313,000 after acquiring an additional 18,029 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have weighed in on C. Barclays increased their price target on shares of Citigroup from $146.00 to $154.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Piper Sandler reissued an “overweight” rating and issued a $145.00 price target (up from $125.00) on shares of Citigroup in a report on Wednesday, April 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Citigroup in a report on Monday, April 20th. Keefe, Bruyette & Woods increased their price target on shares of Citigroup from $140.00 to $153.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. increased 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. One research 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 MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $137.62.
Citigroup Stock Performance
Shares of NYSE:C opened at $139.68 on Friday. The company’s 50 day simple moving average is $127.34 and its 200 day simple moving average is $118.06. The stock has a market capitalization of $238.23 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 0.62 and a beta of 1.12. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.99 and a quick ratio of 0.99. Citigroup Inc. has a 1 year low of $76.11 and a 1 year high of $141.12.
Citigroup (NYSE:C – Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $24.63 billion for 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 firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period last year, the firm posted $1.96 earnings per share. As a group, research analysts predict that Citigroup Inc. will post 10.68 EPS for the current fiscal year.
Citigroup Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were paid a $0.60 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. Citigroup’s payout ratio is currently 29.74%.
Citigroup declared that its board has initiated a stock repurchase plan on Thursday, May 7th that permits the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 13.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
Insider Buying and Selling at Citigroup
In related news, 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 value of $3,285,250.00. Following the sale, the insider owned 182,022 shares of the company’s stock, valued at $23,919,511.02. The trade was a 12.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John Cunningham Dugan sold 2,117 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $125.30, for a total transaction of $265,260.10. Following the completion of the sale, the director directly owned 12,194 shares in the company, valued at approximately $1,527,908.20. This represents a 14.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.11% of the company’s stock.
More 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 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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