Flywheel Private Wealth LLC Takes $1.83 Million Position in Citigroup Inc. $C

Flywheel Private Wealth LLC acquired a new position in Citigroup Inc. (NYSE:C) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 16,100 shares of the company’s stock, valued at approximately $1,826,000. Citigroup makes up about 1.0% of Flywheel Private Wealth LLC’s investment portfolio, making the stock its 20th biggest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Citigroup in the fourth quarter valued at about $2,800,944,000. Vanguard Group Inc. grew its stake in shares of Citigroup by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company’s stock worth $19,048,467,000 after acquiring an additional 4,938,923 shares during the last quarter. Capital World Investors increased its holdings in shares of Citigroup by 6.5% during the third quarter. Capital World Investors now owns 47,262,626 shares of the company’s stock valued at $4,797,292,000 after acquiring an additional 2,871,074 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in shares of Citigroup during the fourth quarter valued at about $298,082,000. Finally, SG Americas Securities LLC raised its position in shares of Citigroup by 291.4% in the 4th quarter. SG Americas Securities LLC now owns 1,319,549 shares of the company’s stock valued at $153,978,000 after purchasing an additional 2,008,946 shares during the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director John Cunningham Dugan sold 2,117 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $125.30, for a total transaction 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 trade represents a 14.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Edward Skyler sold 25,000 shares of the business’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 transaction, the insider owned 182,022 shares of the company’s stock, valued at $23,919,511.02. This represents a 12.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.11% of the stock is owned by corporate insiders.

Citigroup Price Performance

Shares of NYSE C opened at $143.37 on Monday. The business’s 50 day moving average price is $129.86 and its 200 day moving average price is $119.61. The firm has a market cap of $244.52 billion, a P/E ratio of 17.77, a P/E/G ratio of 0.62 and a beta of 1.12. Citigroup Inc. has a 52 week low of $77.50 and a 52 week 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 issued its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $22.96 billion. During the same quarter in the prior year, the company earned $1.96 EPS. Citigroup’s quarterly revenue was up 14.1% on a year-over-year basis. On average, sell-side analysts expect that Citigroup Inc. will post 10.72 earnings per share for the current year.

Citigroup announced that its Board of Directors has approved a share repurchase program on Thursday, May 7th that authorizes the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 13.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were paid 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%.

Wall Street Analysts Forecast Growth

C has been the subject of a number of recent analyst reports. Barclays lifted their target price on shares of Citigroup from $146.00 to $154.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Wall Street Zen upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Piper Sandler reaffirmed an “overweight” rating and issued a $145.00 price target (up from $125.00) on shares of Citigroup in a report on Wednesday, April 15th. Jefferies Financial Group started coverage on shares of Citigroup in a research note on Thursday, March 26th. They set a “buy” rating and a $135.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Citigroup from $131.00 to $135.50 and gave the company an “overweight” rating in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.79.

More 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

About Citigroup

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.