BW Gestao de Investimentos Ltda. Takes Position in Citigroup Inc. $C

BW Gestao de Investimentos Ltda. bought a new stake in shares of Citigroup Inc. (NYSE:C) in the 4th quarter, HoldingsChannel.com reports. The firm bought 78,337 shares of the company’s stock, valued at approximately $9,141,000.

Other large investors have also recently added to or reduced their stakes in the company. Richards Merrill & Peterson Inc. bought a new position in Citigroup during the fourth quarter worth $28,000. Dunhill Financial LLC increased its position in Citigroup by 92.2% in the third quarter. Dunhill Financial LLC now owns 319 shares of the company’s stock worth $32,000 after buying an additional 153 shares during the period. Luken Investment Analytics LLC acquired a new stake in Citigroup in the fourth quarter worth $32,000. High Note Wealth LLC increased its position in Citigroup by 107.7% in the fourth quarter. High Note Wealth LLC now owns 270 shares of the company’s stock worth $32,000 after buying an additional 140 shares during the period. Finally, Guerra Advisors Inc acquired a new stake in Citigroup in the third quarter worth $33,000. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Performance

Shares of NYSE C opened at $128.86 on Tuesday. 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 business’s 50 day moving average is $123.27 and its two-hundred day moving average is $115.99. The company has a market cap of $219.78 billion, a P/E ratio of 15.97, a P/E/G ratio of 0.56 and a beta of 1.12. Citigroup Inc. has a 12 month low of $74.30 and a 12 month high of $135.29.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, topping 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 the consensus estimate of $22.96 billion. During the same period in the previous year, the business posted $1.96 EPS. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities analysts expect that Citigroup Inc. will post 10.68 EPS for the current year.

Citigroup Announces Dividend

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

Citigroup declared that its board has approved a share repurchase 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 shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

C has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on Citigroup from $131.00 to $135.50 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Oppenheimer reiterated an “outperform” rating and issued a $145.00 price target on shares of Citigroup in a research report on Friday, May 8th. Wall Street Zen upgraded Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings restated a “buy (b)” rating on shares of Citigroup in a research report on Monday, April 20th. Finally, Morgan Stanley raised their price target on Citigroup from $140.00 to $144.00 and gave the stock 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 given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $137.62.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup could win a role in OpenAI’s IPO preparations, a marquee mandate that would support future fee income and showcase the bank’s investment banking reach. OpenAI reportedly in talks to add Citigroup and JPMorgan to its IPO underwriting team
• Positive Sentiment: Market commentary says Citigroup has outperformed the Dow over the past year, while analysts remain cautiously optimistic, reinforcing a constructive near-term view on the stock. Is Citigroup Stock Outperforming the Dow?
• Positive Sentiment: Citi turned more bullish on copper, raising its price outlook sharply; that call may be viewed as supportive for Citi’s broader markets and commodities franchise, and for sentiment around the bank’s research influence. Citi turns bullish on copper, sees price hitting $15,000 per ton within a year
• Neutral Sentiment: Citigroup forecast that the tokenized securities market could reach $5.5 trillion underscores its interest in digital assets and market infrastructure, but the near-term stock impact is unclear. Citigroup Forecasts Tokenized Securities Market Will Hit $5.5 Trillion
• Neutral Sentiment: News that Citi is working with Fannie Mae on a reperforming-loan sale is a routine capital markets-related item and does not appear to materially change the earnings outlook on its own. Is Fannie Mae’s Latest Reperforming Loan Sale With Citigroup Quietly Reshaping FNMA’s Risk Profile?

Insider Buying and Selling at Citigroup

In related news, Director John Cunningham Dugan sold 2,117 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $125.30, for a total value of $265,260.10. Following the sale, the director owned 12,194 shares of the company’s stock, valued at $1,527,908.20. The trade was a 14.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Edward Skyler sold 25,000 shares of the business’s stock in a transaction 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 completion of the transaction, the insider directly owned 182,022 shares in the company, valued at approximately $23,919,511.02. This represents a 12.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.11% of the stock is owned by insiders.

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.