Ignite Planners LLC Reduces Holdings in Citigroup Inc. $C

Ignite Planners LLC trimmed its position in shares of Citigroup Inc. (NYSE:C) by 59.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,072 shares of the company’s stock after selling 8,985 shares during the quarter. Ignite Planners LLC’s holdings in Citigroup were worth $703,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Axxcess Wealth Management LLC increased its position in shares of Citigroup by 81.8% during the fourth quarter. Axxcess Wealth Management LLC now owns 103,881 shares of the company’s stock worth $12,122,000 after purchasing an additional 46,728 shares in the last quarter. Texas Bank & Trust Co increased its position in shares of Citigroup by 39.6% during the fourth quarter. Texas Bank & Trust Co now owns 3,753 shares of the company’s stock worth $438,000 after purchasing an additional 1,065 shares in the last quarter. Pinnbrook Capital Management LP purchased a new stake in shares of Citigroup during the fourth quarter worth approximately $4,887,000. Commonwealth Financial Services LLC purchased a new stake in shares of Citigroup during the fourth quarter worth approximately $204,000. Finally, Resolute Wealth Strategies LLC increased its position in shares of Citigroup by 14.7% during the fourth quarter. Resolute Wealth Strategies LLC now owns 2,602 shares of the company’s stock worth $304,000 after purchasing an additional 333 shares in the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Citigroup

In other news, Director John Cunningham Dugan sold 2,117 shares of the company’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 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 position. 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 company’s stock in a transaction on Wednesday, April 15th. The shares were 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 trade represents a 12.08% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.11% of the stock is owned by corporate insiders.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup announced a private credit partnership with BlackRock’s HPS Investment Partners, a large €15 billion deal aimed at expanding direct lending across Europe, the U.K., and later the Middle East. The move could help Citi deepen its presence in private credit and generate new fee income. Citigroup (C) Forms Private Credit Partnership With BlackRock
• Positive Sentiment: Citi’s wealth business is also expanding, with management saying a significant share of new global hiring will be focused on Asia, where the private bank is growing faster and producing better productivity. That supports the bank’s restructuring story and long-term profitability goals. Citi to boost Asia wealth business with ‘significant’ hires, global head says
• Positive Sentiment: Citigroup shareholder approval of an expanded stock incentive plan suggests investors are backing management’s compensation and retention strategy, which can help support execution on the company’s turnaround plan. Citigroup Shareholders Approve Expanded Stock Incentive Plan
• Positive Sentiment: Citigroup also continues to benefit from a broader favorable view from analysts, including comments that Q1 results confirmed improving earnings momentum. Citigroup Upgraded As Q1 Results Confirm Earnings Improvement Direction For Banking Giant
• Neutral Sentiment: Separate commentary noted Citi expects India IPO activity to recover later this year, which is positive for capital markets activity but is more of a medium-term driver than an immediate stock catalyst. Citi sees India IPOs hitting fresh records despite challenges
• Negative Sentiment: One potential overhang is governance pressure: a separate report said more Citi shareholders voted against the bank’s say-on-pay resolution, reflecting concern about executive compensation and Jane Fraser’s pay package. More Citi shareholders vote ‘no’ on say-on-pay

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Keefe, Bruyette & Woods boosted their price target on Citigroup from $140.00 to $153.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Citigroup in a research report on Monday, April 20th. The Goldman Sachs Group boosted 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. Royal Bank Of Canada reiterated an “outperform” rating and set a $139.00 price target on shares of Citigroup in a research report on Wednesday, April 15th. Finally, Oppenheimer reiterated an “outperform” rating and set a $145.00 price target on shares of Citigroup in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.62.

Citigroup Stock Down 0.1%

Shares of NYSE:C opened at $125.10 on Friday. 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 has a fifty day moving average of $121.04 and a two-hundred day moving average of $114.84. The stock has a market cap of $213.36 billion, a P/E ratio of 15.50, a PEG ratio of 0.56 and a beta of 1.14. Citigroup Inc. has a 52-week low of $71.65 and a 52-week high of $135.29.

Citigroup (NYSE:C) last issued its 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. The company had revenue of $24.63 billion during the quarter, compared to analysts’ expectations of $22.96 billion. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.96 EPS. On average, research analysts expect that Citigroup Inc. will post 10.65 earnings per share for the current year.

Citigroup declared that its Board of Directors has approved a stock buyback plan 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 plans are generally an indication that the company’s leadership believes its stock is undervalued.

Citigroup Announces Dividend

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

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.