Great Lakes Advisors LLC Sells 6,143 Shares of Citigroup Inc. $C

Great Lakes Advisors LLC lessened its position in shares of Citigroup Inc. (NYSE:C) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 765,411 shares of the company’s stock after selling 6,143 shares during the period. Great Lakes Advisors LLC’s holdings in Citigroup were worth $89,316,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Verus Capital Partners LLC raised its stake in Citigroup by 3.1% during the fourth quarter. Verus Capital Partners LLC now owns 2,748 shares of the company’s stock valued at $321,000 after purchasing an additional 82 shares in the last quarter. Elmwood Wealth Management Inc. raised 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 valued at $799,000 after purchasing an additional 85 shares in the last quarter. Park Place Capital Corp raised its stake in Citigroup by 16.7% during the fourth quarter. Park Place Capital Corp now owns 595 shares of the company’s stock valued at $69,000 after purchasing an additional 85 shares in the last quarter. D.B. Root & Company LLC raised its stake in Citigroup by 2.8% during the fourth quarter. D.B. Root & Company LLC now owns 3,191 shares of the company’s stock valued at $372,000 after purchasing an additional 87 shares in the last quarter. Finally, Cornerstone Wealth Management LLC raised its stake in Citigroup by 0.8% during the fourth quarter. Cornerstone Wealth Management LLC now owns 10,393 shares of the company’s stock valued at $1,213,000 after purchasing an additional 87 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup is rolling out tokenized depositary receipts for private-company shares, a move that could broaden access to private markets and create a new growth avenue for the bank. Article title
• Positive Sentiment: Reuters reported that Citi hired Ryan Beaupré as a managing director in its consumer and retail investment banking group, signaling continued effort to expand the franchise and deepen client coverage. Article title
• Positive Sentiment: Citigroup’s recent earnings beat and revenue growth continue to support the stock, with Q1 EPS and revenue both topping expectations and underscoring improving operating momentum. Article title
• Neutral Sentiment: President Trump publicly praised Citigroup and CEO Jane Fraser for M&A advisory work, which helped sentiment, but some reports noted the ranking was overstated, limiting the fundamental impact. Article title
• Neutral Sentiment: Market commentary also pointed to Citigroup’s turnaround progress, solid trading conditions, and a constructive investment banking outlook, which supports the stock but is largely a continuation of existing optimism. Article title

Citigroup Trading Up 3.4%

Shares of C opened at $137.89 on Friday. Citigroup Inc. has a twelve month low of $76.11 and a twelve month high of $138.23. The company has a market cap of $235.18 billion, a P/E ratio of 17.09, a P/E/G ratio of 0.60 and a beta of 1.12. 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’s fifty day simple moving average is $126.85 and its 200-day simple moving average is $117.91.

Citigroup (NYSE:C) last announced its earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.43. The business had revenue of $24.63 billion for the quarter, compared to the consensus estimate of $22.96 billion. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.96 earnings per share. As a group, analysts expect that Citigroup Inc. will post 10.68 EPS for the current year.

Citigroup Dividend Announcement

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

Citigroup declared that its board has approved a share buyback program on Thursday, May 7th that authorizes the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 13.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms recently issued reports on C. Evercore set a $139.00 price target on shares of Citigroup in a research note on Wednesday, April 15th. Barclays increased their target price on shares of Citigroup from $146.00 to $154.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Oppenheimer reissued an “outperform” rating and issued a $145.00 target price on shares of Citigroup in a research note on Friday, May 8th. Royal Bank Of Canada reissued an “outperform” rating and issued a $139.00 target price on shares of Citigroup in a research note on Wednesday, April 15th. Finally, Wall Street Zen raised shares of Citigroup from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $137.62.

Insider Transactions at Citigroup

In other news, 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 value 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 represents a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Edward Skyler sold 25,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider owned 182,022 shares in the company, valued at approximately $23,919,511.02. The trade was a 12.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.11% of the company’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.