Investment Management Corp of Ontario lifted its position in shares of Citigroup Inc. (NYSE:C – Free Report) by 27.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 175,929 shares of the company’s stock after purchasing an additional 38,149 shares during the period. Investment Management Corp of Ontario’s holdings in Citigroup were worth $20,529,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Richards Merrill & Peterson Inc. bought a new position in shares of Citigroup during the fourth quarter valued at $28,000. Luken Investment Analytics LLC bought a new position in shares of Citigroup during the fourth quarter valued at $32,000. High Note Wealth LLC raised its stake in shares of Citigroup by 107.7% during the fourth quarter. High Note Wealth LLC now owns 270 shares of the company’s stock valued at $32,000 after acquiring an additional 140 shares during the last quarter. Entrust Financial LLC bought a new position in shares of Citigroup during the fourth quarter valued at $34,000. Finally, Cornerstone Financial Management LLC acquired a new position in Citigroup during the 4th quarter worth about $34,000. 71.72% of the stock is currently owned by institutional investors.
Citigroup Price Performance
Shares of NYSE C opened at $143.74 on Thursday. The firm’s 50-day moving average price is $128.94 and its 200-day moving average price is $119.04. Citigroup Inc. has a 1-year low of $77.26 and a 1-year high of $146.54. The firm has a market capitalization of $245.16 billion, a P/E ratio of 17.81, a P/E/G ratio of 0.64 and a beta of 1.12. 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 announced that its board has authorized a share buyback program on Thursday, May 7th that allows the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 13.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Citigroup Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders 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 of this dividend was Monday, May 4th. Citigroup’s dividend payout ratio is presently 29.74%.
Insider Buying and Selling
In other news, 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 transaction of $265,260.10. Following the transaction, the director directly owned 12,194 shares of the company’s stock, valued at $1,527,908.20. This represents a 14.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Edward Skyler sold 25,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider directly owned 182,022 shares in the company, valued at $23,919,511.02. The trade was a 12.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.11% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
C has been the topic of a number of recent analyst reports. The Goldman Sachs Group lifted their price objective on Citigroup from $137.00 to $151.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. Zacks Research cut Citigroup from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Truist Financial set a $147.00 price objective on shares of Citigroup in a research note on Friday, May 1st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $139.00 price target on shares of Citigroup in a research report on Wednesday, April 15th. Finally, Wall Street Zen raised shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. One 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $137.79.
Check Out Our Latest Stock Report on C
Citigroup News Roundup
Here are the key news stories impacting Citigroup this week:
- Positive Sentiment: Trading activity showed unusually strong demand for Citigroup call options, suggesting investors are positioning for further upside in the stock.
- Positive Sentiment: Citigroup’s May consumer credit data was mixed but not alarming overall: card delinquencies declined, which may support the view that credit quality remains manageable. Article: Citigroup’s Card Delinquencies Decline, Charge-Offs Rise in May
- Positive Sentiment: The stock is still benefiting from recent momentum tied to strong earnings, restructuring progress, AI-related initiatives and share buybacks, which have helped push shares toward multi-year highs. Article: Citigroup Stock at Multi-Year High: Why Investors Should Stay Invested
- Neutral Sentiment: There was also a report that Citigroup had recently gone long on a more constructive market view via an economist’s call for Fed rate cuts, but this is more macro commentary than a direct company catalyst. Article: Citi chief US economist defends unpopular Fed rate-cut call
- Negative Sentiment: Two lawsuits tied to a former executive’s allegations over Trump-related client concerns and retaliation could create legal and reputational risk for Citigroup if the claims gain traction. Article: Citigroup faces lawsuit over alleged Trump-linked account issues
About Citigroup
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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