Corient Private Wealth LLC Has $61.22 Million Stake in Citigroup Inc. $C

Corient Private Wealth LLC raised its stake in Citigroup Inc. (NYSE:C) by 18.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 524,574 shares of the company’s stock after acquiring an additional 82,674 shares during the period. Corient Private Wealth LLC’s holdings in Citigroup were worth $61,215,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in C. Verus Capital Partners LLC boosted its holdings in Citigroup by 3.1% in the fourth quarter. Verus Capital Partners LLC now owns 2,748 shares of the company’s stock valued at $321,000 after acquiring an additional 82 shares during the last quarter. Elmwood Wealth Management Inc. lifted its position in Citigroup by 1.3% during the 4th 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 during the period. Park Place Capital Corp lifted its position in Citigroup by 16.7% during the 4th quarter. Park Place Capital Corp now owns 595 shares of the company’s stock valued at $69,000 after purchasing an additional 85 shares during the period. D.B. Root & Company LLC boosted its stake in shares of 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 purchasing an additional 87 shares during the last quarter. Finally, Cornerstone Wealth Management LLC grew its position in shares of Citigroup by 0.8% during the 4th quarter. Cornerstone Wealth Management LLC now owns 10,393 shares of the company’s stock worth $1,213,000 after buying an additional 87 shares during the period. 71.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on C shares. Jefferies Financial Group initiated coverage on shares of Citigroup in a research note on Thursday, March 26th. They set a “buy” rating and a $135.00 price target for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citigroup in a report on Monday, April 20th. Keefe, Bruyette & Woods upped their target price on shares of Citigroup from $140.00 to $153.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Oppenheimer reissued an “outperform” rating and issued a $145.00 price target on shares of Citigroup in a research note on Friday, May 8th. Finally, The Goldman Sachs Group raised their price target on Citigroup from $137.00 to $151.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. One 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 a consensus rating of “Moderate Buy” and a consensus price target of $137.79.

Insider Activity

In other news, insider Edward Skyler sold 25,000 shares of Citigroup 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 transaction, the insider owned 182,022 shares in the company, valued at $23,919,511.02. The trade was a 12.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 completion of the transaction, the director owned 12,194 shares of the company’s stock, valued at $1,527,908.20. This represents a 14.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.11% of the stock is owned by corporate insiders.

Citigroup Trading Up 0.2%

Shares of NYSE C opened at $143.37 on Friday. The company’s fifty day moving average is $129.86 and its 200-day moving average is $119.49. The stock has a market cap of $244.52 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 0.64 and a beta of 1.12. Citigroup Inc. has a twelve month low of $77.50 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.

Citigroup (NYSE:C) last announced 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. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The company had revenue of $24.63 billion during the quarter, compared to analyst estimates of $22.96 billion. During the same quarter in the previous year, the business earned $1.96 EPS. The firm’s revenue was up 14.1% on a year-over-year basis. Equities research analysts predict that Citigroup Inc. will post 10.72 EPS for the current year.

Citigroup Dividend Announcement

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

Citigroup declared that its board has authorized a stock buyback plan on Thursday, May 7th that authorizes the company to repurchase $30.00 billion in shares. This repurchase authorization authorizes the company to buy up to 13.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi’s latest macro view suggests the Federal Reserve may keep rates higher for longer, which could boost net interest income for Citigroup (C) if short-term yields remain elevated. Citi Predicts Fed Rate Cuts Will Come Later Than Expected
• Positive Sentiment: The bank also announced a leadership move in Asia, appointing JianXun Toh to lead corporate banking in Japan, Asia North and Australia, reinforcing its push to grow institutional banking in a key region. Citigroup (C) Appoints JianXun Toh To Lead Corporate Banking In JANA
• Positive Sentiment: Analyst sentiment remains supportive, with Citigroup receiving a consensus “Moderate Buy” rating, which can help reinforce investor confidence in the stock. Citigroup Inc. (NYSE:C) Receives Consensus Recommendation of “Moderate Buy” from Analysts
• Neutral Sentiment: Citi also highlighted innovation in asset management with a new report on “operational alpha,” underscoring its broader financial-services research franchise, though the direct stock impact is limited. Citi and CREATE-Research Report: Innovation in Asset Management Pivots to ‘Operational Alpha’
• Negative Sentiment: A Reuters/Fox Business report said the Justice Department is probing transactions tied to a network linked to Iran’s supreme leader, including possible connections to Wall Street firms such as Citigroup, creating headline risk for the bank. DOJ probes JPMorgan, Citigroup transactions tied to Iran supreme leader’s business network

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.