Citigroup Inc. $C Shares Purchased by Allworth Financial LP

Allworth Financial LP grew its stake in shares of Citigroup Inc. (NYSE:C) by 12.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,592 shares of the company’s stock after acquiring an additional 7,970 shares during the quarter. Allworth Financial LP’s holdings in Citigroup were worth $8,471,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Castle Rock Wealth Management LLC purchased a new stake in shares of Citigroup during the 4th quarter worth about $236,000. Rayburn West Financial Services LLC purchased a new stake in Citigroup during the fourth quarter worth approximately $4,127,000. Grey Ledge Advisors LLC increased its position in shares of Citigroup by 2.4% in the fourth quarter. Grey Ledge Advisors LLC now owns 4,178 shares of the company’s stock worth $488,000 after acquiring an additional 96 shares in the last quarter. Moneco Advisors LLC increased its position in shares of Citigroup by 197.4% in the fourth quarter. Moneco Advisors LLC now owns 24,171 shares of the company’s stock worth $2,821,000 after acquiring an additional 16,043 shares in the last quarter. Finally, Strategic Family Wealth Counselors L.L.C. raised its stake in shares of Citigroup by 84.5% in the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 4,582 shares of the company’s stock valued at $517,000 after acquiring an additional 2,099 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Down 1.1%

C stock opened at $123.39 on Friday. Citigroup Inc. has a twelve month low of $71.65 and a twelve month high of $135.29. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $210.46 billion, a P/E ratio of 15.29, a PEG ratio of 0.56 and a beta of 1.14. The firm has a 50 day simple moving average of $119.50 and a 200-day simple moving average of $114.04.

Citigroup (NYSE:C) last posted 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. The firm 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% on a year-over-year basis. During the same period in the prior year, the company posted $1.96 earnings per share. On average, equities research analysts predict that Citigroup Inc. will post 10.65 earnings per share for the current fiscal year.

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

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, May 4th. Citigroup’s payout ratio is currently 29.74%.

Insider Activity at Citigroup

In related news, insider Edward Skyler sold 25,000 shares of the firm’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $131.41, for a total transaction of $3,285,250.00. Following the transaction, the insider directly owned 182,022 shares in the company, valued at $23,919,511.02. This trade represents 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 this hyperlink. Also, 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 completion of the transaction, the director directly owned 12,194 shares of the company’s stock, valued at approximately $1,527,908.20. This represents a 14.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.11% of the company’s stock.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup plans to increase headcount in its Asia-Pacific prime brokerage business by about 10%, signaling confidence in rising hedge fund activity and an opportunity to capture more trading and financing revenue. Article: C to Expand Asia Prime Brokerage Team by 10%, Eyes Hedge Fund Growth
• Positive Sentiment: Separate reports suggest Citigroup is continuing to push its Asia expansion strategy, including potential licensing progress in China and a broader push to strengthen its regional investment-banking and markets presence. Article: Citigroup to Get License for Wholly Owned China Securities Firm as CEO Joins Trump Visit
• Positive Sentiment: Citigroup has also been highlighted in analysis for adopting AI in ways that may generate returns, reinforcing the view that the bank’s technology investments could help support efficiency and profitability. Article: Citigroup: Not Only Adopting AI But Also Generating Returns
• Neutral Sentiment: Bloomberg reported that Citi said African borrowers are becoming more creative in debt sales, which is informative on market conditions but does not clearly change the near-term earnings picture. Article: Citi Says African Borrowers Are Turning Creative on Debt Sales
• Negative Sentiment: Some investors remain focused on whether Citigroup can sustain its post-earnings momentum, with recent commentary noting the stock has already pulled back from the strong rally seen after its latest quarterly results. Article: After a 63.3% Surge in a Year, Is C Stock Worth Holding on to Now?

Analyst Ratings Changes

C has been the subject of a number of research reports. Truist Financial set a $147.00 price target on shares of Citigroup in a research report on Friday, May 1st. JPMorgan Chase & Co. raised their price objective on Citigroup from $131.00 to $135.50 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Wells Fargo & Company boosted their price objective on Citigroup from $160.00 to $162.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Morgan Stanley upped their target price on Citigroup from $140.00 to $144.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Finally, Barclays increased their target price on Citigroup from $146.00 to $154.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and an average target price of $137.62.

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.