Citigroup Inc. $C Shares Purchased by Banco Santander S.A.

Banco Santander S.A. raised its holdings in shares of Citigroup Inc. (NYSE:C) by 4.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 646,155 shares of the company’s stock after purchasing an additional 28,504 shares during the quarter. Citigroup accounts for 0.6% of Banco Santander S.A.’s portfolio, making the stock its 26th largest position. Banco Santander S.A.’s holdings in Citigroup were worth $75,400,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Sumitomo Life Insurance Co. lifted its holdings in Citigroup by 0.9% during the 4th quarter. Sumitomo Life Insurance Co. now owns 25,945 shares of the company’s stock worth $3,028,000 after buying an additional 225 shares during the last quarter. Klingenstein Fields & Co. LP bought a new position in Citigroup during the 4th quarter worth approximately $202,000. Wealthspire Advisors LLC lifted its holdings in Citigroup by 109.0% during the 4th quarter. Wealthspire Advisors LLC now owns 22,364 shares of the company’s stock worth $2,610,000 after buying an additional 11,662 shares during the last quarter. Atalanta Sosnoff Capital LLC bought a new position in Citigroup during the 4th quarter worth approximately $2,345,000. Finally, Summit Financial LLC lifted its holdings in Citigroup by 13.3% during the 4th quarter. Summit Financial LLC now owns 29,351 shares of the company’s stock worth $3,425,000 after buying an additional 3,456 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Up 1.2%

Shares of C stock opened at $139.68 on Friday. Citigroup Inc. has a 1 year low of $76.11 and a 1 year high of $141.12. The stock has a market cap of $238.23 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 0.62 and a beta of 1.12. The business’s fifty day moving average is $127.34 and its 200-day moving average is $118.06. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $22.96 billion. During the same period last year, the firm earned $1.96 EPS. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities analysts expect that Citigroup Inc. will post 10.68 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The company also recently declared 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. The ex-dividend date was Monday, May 4th. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. Citigroup’s dividend payout ratio (DPR) is 29.74%.

Citigroup declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 7th that permits the company to buyback $30.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 13.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have commented on C. Morgan Stanley increased their target price on Citigroup from $140.00 to $144.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $139.00 target price on shares of Citigroup in a report on Wednesday, April 15th. Keefe, Bruyette & Woods increased their target price on Citigroup from $140.00 to $153.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Barclays increased their target price on Citigroup from $146.00 to $154.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Finally, Truist Financial set a $147.00 target price on Citigroup in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $137.62.

Citigroup News Roundup

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

Insider Buying and Selling at Citigroup

In other news, Director John Cunningham Dugan sold 2,117 shares of Citigroup 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 transaction, the director directly owned 12,194 shares in the company, valued at approximately $1,527,908.20. This trade represents a 14.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edward Skyler sold 25,000 shares of Citigroup 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 transaction, the insider owned 182,022 shares in the company, valued at approximately $23,919,511.02. This trade represents 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 currently owned by company 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.