Arrowpoint Investment Partners Singapore Pte. Ltd. Buys New Shares in Citigroup Inc. $C

Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new stake in Citigroup Inc. (NYSE:C) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 464,000 shares of the company’s stock, valued at approximately $54,144,000. Citigroup accounts for approximately 8.0% of Arrowpoint Investment Partners Singapore Pte. Ltd.’s portfolio, making the stock its 4th biggest holding.

Other hedge funds have also recently bought and sold shares of the company. Truist Financial Corp grew its position in Citigroup by 4.7% during the fourth quarter. Truist Financial Corp now owns 375,977 shares of the company’s stock worth $43,873,000 after buying an additional 16,744 shares in the last quarter. Kovitz Investment Group Partners LLC grew its position in Citigroup by 17.3% during the third quarter. Kovitz Investment Group Partners LLC now owns 663,416 shares of the company’s stock worth $67,337,000 after buying an additional 98,082 shares in the last quarter. Gunderson Capital Management Inc. acquired a new stake in Citigroup during the fourth quarter worth approximately $7,165,000. Brighton Jones LLC grew its position in Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after buying an additional 12,499 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Citigroup by 4.5% during the third quarter. PNC Financial Services Group Inc. now owns 416,872 shares of the company’s stock worth $42,313,000 after buying an additional 18,029 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Performance

NYSE C opened at $135.01 on Friday. The company has a market capitalization of $230.27 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 0.58 and a beta of 1.12. Citigroup Inc. has a twelve month low of $75.66 and a twelve month high of $135.67. The stock has a fifty day simple moving average of $124.50 and a 200 day simple moving average of $116.64. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.59.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.63 by $0.43. The business had revenue of $24.63 billion during 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%.Citigroup’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.96 earnings per share. Sell-side analysts expect that Citigroup Inc. will post 10.68 EPS for the current year.

Citigroup announced that its board has authorized a share buyback 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. Citigroup’s dividend payout ratio is 29.74%.

Insiders Place Their Bets

In other Citigroup news, insider Edward Skyler sold 25,000 shares of the company’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $131.41, for a total transaction of $3,285,250.00. Following the sale, the insider owned 182,022 shares of the company’s stock, valued at approximately $23,919,511.02. This represents a 12.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John Cunningham Dugan sold 2,117 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $125.30, for a total transaction of $265,260.10. Following the transaction, the director owned 12,194 shares in the company, valued at $1,527,908.20. This represents a 14.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

C has been the topic of a number of analyst reports. Truist Financial set a $147.00 price target on Citigroup in a research report on Friday, May 1st. JPMorgan Chase & Co. boosted their price target on Citigroup from $131.00 to $135.50 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Oppenheimer restated an “outperform” rating and set a $145.00 price objective on shares of Citigroup in a research report on Friday, May 8th. Evercore set a $139.00 price objective on Citigroup in a research report on Wednesday, April 15th. Finally, Wells Fargo & Company upped their price objective on Citigroup from $160.00 to $162.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given 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.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup is reportedly part of a new tokenized deposit system being developed with JPMorgan and other major banks, a move that could help Citi compete with stablecoins and crypto-native firms while opening a new digital-payments growth avenue.
• Positive Sentiment: Citi said its AI document-processing system cut account-opening review time from 60 minutes to 15 minutes, signaling a meaningful productivity gain and a path to lower operating costs.
• Positive Sentiment: Citigroup was also mentioned as a possible bank for OpenAI’s upcoming IPO, which could bolster fee income and reinforce Citi’s role in high-profile capital markets deals.
• Positive Sentiment: Investor sentiment is further supported by Citi’s recent strong results, with quarterly EPS and revenue both beating estimates, and by analyst commentary pointing to a constructive technical setup for the stock.
• Neutral Sentiment: Citi announced redemptions of $3.15 billion in 2027-due notes. This is a routine balance-sheet action and does not appear to be a major surprise, but it may reflect ongoing capital management discipline.
• Neutral Sentiment: Several headlines focused on Citi’s broader research coverage of other companies and portfolio moves by Citi entities, but these appear to be more about the bank’s market presence than a direct driver of Citigroup’s stock.

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.