5,739 Shares in Citigroup Inc. $C Bought by SmartHarvest Portfolios LLC

SmartHarvest Portfolios LLC acquired a new stake in shares of Citigroup Inc. (NYSE:C) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,739 shares of the company’s stock, valued at approximately $670,000.

Several other institutional investors have also modified their holdings of the stock. Richards Merrill & Peterson Inc. purchased a new position in Citigroup in the 4th quarter valued at about $28,000. Dunhill Financial LLC boosted its holdings in Citigroup by 92.2% in the 3rd quarter. Dunhill Financial LLC now owns 319 shares of the company’s stock worth $32,000 after buying an additional 153 shares during the last quarter. Luken Investment Analytics LLC purchased a new stake in Citigroup during the 4th quarter worth approximately $32,000. High Note Wealth LLC raised its holdings in shares of Citigroup by 107.7% during the fourth quarter. High Note Wealth LLC now owns 270 shares of the company’s stock valued at $32,000 after acquiring an additional 140 shares during the last quarter. Finally, Entrust Financial LLC purchased a new position in shares of Citigroup in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Insider Activity

In other news, insider Edward Skyler sold 25,000 shares of the stock in a transaction that occurred 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 sale, 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 position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John Cunningham Dugan sold 2,117 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $125.30, for a total transaction of $265,260.10. Following the sale, 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 disclosure for this sale is available in the SEC filing. 0.11% of the stock is currently owned by company insiders.

Citigroup Stock Performance

Shares of Citigroup stock opened at $137.89 on Friday. Citigroup Inc. has a one year low of $76.11 and a one year high of $138.23. The company has a market cap of $235.18 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 0.60 and a beta of 1.12. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99. The business’s 50 day moving average price is $126.85 and its 200 day moving average price is $117.91.

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. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The company had revenue of $24.63 billion during the quarter, compared to analysts’ expectations of $22.96 billion. During the same period in the prior year, the business earned $1.96 EPS. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. On average, research analysts predict that Citigroup Inc. will post 10.68 EPS for the current year.

Citigroup announced that its board has approved a share 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.7%. The ex-dividend date was Monday, May 4th. Citigroup’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Citigroup from $131.00 to $135.50 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. The Goldman Sachs Group raised their price objective on Citigroup from $137.00 to $151.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Keefe, Bruyette & Woods lifted their target price on shares of Citigroup from $140.00 to $153.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Morgan Stanley upped their target price on shares of Citigroup from $140.00 to $144.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Finally, Jefferies Financial Group initiated coverage on shares of Citigroup in a research report on Thursday, March 26th. They issued a “buy” rating and a $135.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and a consensus target price of $137.62.

Key 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 Company 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.