Forum Financial Management LP Sells 28,860 Shares of Citigroup Inc. $C

Forum Financial Management LP lowered its holdings in Citigroup Inc. (NYSE:C) by 86.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,651 shares of the company’s stock after selling 28,860 shares during the period. Forum Financial Management LP’s holdings in Citigroup were worth $528,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in C. Cora Capital Advisors LLC grew its holdings in shares of Citigroup by 3.1% during the 1st quarter. Cora Capital Advisors LLC now owns 2,609 shares of the company’s stock worth $296,000 after purchasing an additional 78 shares in the last quarter. Verus Capital Partners LLC lifted its position in Citigroup by 3.1% during the fourth quarter. Verus Capital Partners LLC now owns 2,748 shares of the company’s stock worth $321,000 after purchasing an additional 82 shares during the period. Elmwood Wealth Management Inc. grew its stake in Citigroup by 1.3% during the fourth quarter. Elmwood Wealth Management Inc. now owns 6,845 shares of the company’s stock worth $799,000 after buying an additional 85 shares in the last quarter. Park Place Capital Corp increased its holdings in Citigroup by 16.7% in the 4th quarter. Park Place Capital Corp now owns 595 shares of the company’s stock valued at $69,000 after buying an additional 85 shares during the period. Finally, D.B. Root & Company LLC increased its holdings in Citigroup by 2.8% in the 4th quarter. D.B. Root & Company LLC now owns 3,191 shares of the company’s stock valued at $372,000 after buying an additional 87 shares during the period. 71.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on C shares. Truist Financial upped their target price on Citigroup from $147.00 to $158.00 and gave the stock a “buy” rating in a research note on Friday. Evercore set a $139.00 price target on Citigroup in a report on Wednesday, April 15th. Keefe, Bruyette & Woods upped their price objective on Citigroup from $140.00 to $153.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Morgan Stanley raised their price objective on Citigroup from $154.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $145.00 target price (up from $125.00) on shares of Citigroup in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $139.62.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup has been highlighted for its growing use of AI to improve efficiency, lower costs, and enhance customer experience, which could support longer-term margin expansion. Citigroup Bets Big on AI to Drive Efficiency & Long-Term Growth
• Positive Sentiment: The bank also recently completed the Federal Reserve stress test and announced a $30 billion share repurchase program along with a higher dividend, signaling confidence in capital strength and shareholder returns. Should Citi’s (C) US$30 Billion Buyback and Dividend Hike Require Action From Investors?
• Neutral Sentiment: Citi’s own market commentary noted bearish flows are building in the Nasdaq and S&P 500, suggesting a more risk-off backdrop that could pressure financial stocks broadly rather than just Citigroup specifically. Citi says bearish flows are building in Nasdaq and S&P 500
• Negative Sentiment: A separate note warned that major bank stocks are already trading near highs and may be due for a pullback, which can weigh on sentiment around Citigroup even if its fundamentals remain solid. Bank Stocks Are Doing Great, but It’s Time to ‘Take the Money and Run’

Insider Activity at Citigroup

In other news, Director John Cunningham Dugan sold 2,117 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $1,527,908.20. The trade was a 14.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Edward Skyler sold 25,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider directly owned 182,022 shares in the company, valued at $23,919,511.02. This represents a 12.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.11% of the stock is owned by company insiders.

Citigroup Trading Down 1.8%

Shares of C stock opened at $139.97 on Wednesday. The firm has a market capitalization of $238.73 billion, a P/E ratio of 17.34, a P/E/G ratio of 0.61 and a beta of 1.12. Citigroup Inc. has a twelve month low of $84.77 and a twelve month high of $147.96. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.59. The stock’s fifty day simple moving average is $131.97 and its 200 day simple moving average is $121.35.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, April 14th. The company reported $3.06 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 firm had revenue of $24.63 billion during the quarter, compared to the consensus estimate of $22.96 billion. During the same period last year, the company earned $1.96 earnings per share. The business’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, sell-side analysts predict that Citigroup Inc. will post 10.83 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Monday, May 4th. Citigroup’s dividend payout ratio (DPR) is 29.74%.

Citigroup declared that its board has authorized a share repurchase plan on Thursday, May 7th that allows the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 13.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.