Trek Financial LLC lessened its holdings in Citigroup Inc. (NYSE:C – Free Report) by 89.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,952 shares of the company’s stock after selling 42,343 shares during the quarter. Trek Financial LLC’s holdings in Citigroup were worth $578,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also bought and sold shares of C. Wolff Wiese Magana LLC lifted its stake in Citigroup by 87.6% in the third quarter. Wolff Wiese Magana LLC now owns 257 shares of the company’s stock valued at $26,000 after purchasing an additional 120 shares during the last quarter. Richards Merrill & Peterson Inc. purchased a new position in Citigroup in the fourth quarter valued at approximately $28,000. Dunhill Financial LLC lifted its stake in Citigroup by 92.2% in the third quarter. Dunhill Financial LLC now owns 319 shares of the company’s stock valued at $32,000 after purchasing an additional 153 shares during the last quarter. Luken Investment Analytics LLC purchased a new position in Citigroup in the fourth quarter valued at approximately $32,000. Finally, Guerra Advisors Inc purchased a new position in Citigroup in the third quarter valued at approximately $33,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms recently commented on C. Oppenheimer reiterated an “outperform” rating and issued a $145.00 price objective on shares of Citigroup in a research note on Friday, May 8th. The Goldman Sachs Group upped their price objective on Citigroup from $137.00 to $151.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $139.00 price objective on shares of Citigroup in a research note on Wednesday, April 15th. Piper Sandler reiterated an “overweight” rating and issued a $145.00 price objective (up from $125.00) on shares of Citigroup in a research note on Wednesday, April 15th. Finally, Truist Financial set a $147.00 price objective on Citigroup in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.62.
Insider Transactions at Citigroup
In other news, Director John Cunningham Dugan sold 2,117 shares of the company’s stock in a transaction on 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 owned 12,194 shares of the company’s stock, valued at approximately $1,527,908.20. This represents a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Cantu Ernesto Torres sold 43,173 shares of the company’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $111.09, for a total transaction of $4,796,088.57. Following the completion of the transaction, the insider directly owned 45,835 shares in the company, valued at approximately $5,091,810.15. The trade was a 48.50% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 94,435 shares of company stock valued at $11,030,074. 0.11% of the stock is currently owned by company insiders.
More Citigroup News
Here are the key news stories impacting Citigroup this week:
- Positive Sentiment: Citigroup’s recent earnings beat, stronger revenue, and higher profitability are reinforcing the case for the bank’s capital-return story, including its newly announced $30 billion share buyback, which signals management confidence and could help support the stock. What’s Fueling Citigroup’s Robust Capital Return Strategy?
- Positive Sentiment: Citigroup’s own market commentary and M&A-related media appearance keep the firm visible as a major Wall Street franchise, though this is more of a branding/leadership item than a direct earnings catalyst. AI Good for Media IP: Citigroup’s Mohr
- Neutral Sentiment: The company also disclosed routine participation notifications and an insider transaction tied to director John Cunningham Dugan, but the sale was relatively small and does not appear to materially change the long-term outlook. SEC Director Sale Filing
- Negative Sentiment: Director John Cunningham Dugan sold 2,117 shares of Citigroup stock, which can create a slight overhang on sentiment even though the transaction was not large relative to the company’s size. Insider Selling: Citigroup (NYSE:C) Director Sells 2,117 Shares of Stock
Citigroup Trading Down 1.9%
NYSE:C opened at $124.10 on Thursday. The company has a market cap of $211.66 billion, a P/E ratio of 15.38, a P/E/G ratio of 0.57 and a beta of 1.14. The stock’s fifty day moving average price is $118.98 and its two-hundred day moving average price is $113.79. Citigroup Inc. has a 1 year low of $71.65 and a 1 year high of $135.29. 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 (NYSE:C – Get Free Report) last posted its earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.43. The firm had revenue of $24.63 billion for the quarter, compared to the consensus estimate of $22.96 billion. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.96 earnings per share. As a group, analysts expect that Citigroup Inc. will post 10.65 EPS for the current year.
Citigroup Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Monday, May 4th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Monday, May 4th. This represents a $2.40 annualized dividend and a dividend yield of 1.9%. Citigroup’s dividend payout ratio is presently 29.74%.
Citigroup declared that its board has authorized a stock repurchase program 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 shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
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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Want to see what other hedge funds are holding C? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citigroup Inc. (NYSE:C – Free Report).
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