USS Investment Management Ltd lifted its position in shares of Citigroup Inc. (NYSE:C – Free Report) by 1.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 306,651 shares of the company’s stock after buying an additional 4,962 shares during the quarter. USS Investment Management Ltd’s holdings in Citigroup were worth $34,776,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Mcguire Capital Advisors Inc. bought a new position in Citigroup during the fourth quarter worth about $25,000. Richards Merrill & Peterson Inc. acquired a new stake in Citigroup in the 4th quarter worth about $28,000. TD Capital Management LLC bought a new stake in Citigroup in the 4th quarter valued at about $28,000. Luken Investment Analytics LLC bought a new stake in Citigroup in the 4th quarter valued at about $32,000. Finally, High Note Wealth LLC grew its position in shares of Citigroup by 107.7% during the 4th quarter. High Note Wealth LLC now owns 270 shares of the company’s stock worth $32,000 after purchasing an additional 140 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on C shares. Oppenheimer cut shares of Citigroup from an “outperform” rating to a “market perform” rating in a report on Tuesday. Weiss Ratings reiterated a “buy (b)” rating on shares of Citigroup in a research note on Monday, April 20th. Wall Street Zen raised Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Royal Bank Of Canada restated an “outperform” rating and set a $139.00 price objective on shares of Citigroup in a research note on Wednesday, April 15th. Finally, Evercore set a $139.00 price objective on Citigroup in a report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $139.62.
Citigroup Price Performance
C stock opened at $139.97 on Wednesday. The company’s 50-day moving average price is $131.97 and its two-hundred day moving average price is $121.35. The firm has a market cap of $238.73 billion, a P/E ratio of 17.34, a P/E/G ratio of 0.61 and a beta of 1.12. 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 Inc. has a 12 month low of $84.77 and a 12 month high of $147.96.
Citigroup (NYSE:C – Get Free Report) last issued its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.43. The company had revenue of $24.63 billion during 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 firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.96 EPS. On average, analysts anticipate that Citigroup Inc. will post 10.83 earnings per share for the current fiscal year.
Citigroup Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders 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 payout ratio is currently 29.74%.
Citigroup declared that its Board of Directors has approved a stock buyback program on Thursday, May 7th that allows the company to buyback $30.00 billion in shares. This buyback authorization allows the company to reacquire up to 13.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
Insider Buying and Selling at Citigroup
In other news, Director John Cunningham Dugan sold 2,117 shares of Citigroup 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 in the company, valued at approximately $1,527,908.20. This trade represents a 14.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Edward Skyler sold 25,000 shares of the business’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $131.41, for a total value of $3,285,250.00. Following the transaction, the insider directly owned 182,022 shares of the company’s stock, valued at $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.
Citigroup News Summary
Here are the key news stories impacting Citigroup this week:
- Positive Sentiment: Citigroup has been highlighted for its growing use of AI to improve efficiency, lower costs, and enhance customer experience, which could support longer-term margin expansion. Citigroup Bets Big on AI to Drive Efficiency & Long-Term Growth
- Positive Sentiment: The bank also recently completed the Federal Reserve stress test and announced a $30 billion share repurchase program along with a higher dividend, signaling confidence in capital strength and shareholder returns. Should Citi’s (C) US$30 Billion Buyback and Dividend Hike Require Action From Investors?
- Neutral Sentiment: Citi’s own market commentary noted bearish flows are building in the Nasdaq and S&P 500, suggesting a more risk-off backdrop that could pressure financial stocks broadly rather than just Citigroup specifically. Citi says bearish flows are building in Nasdaq and S&P 500
- Negative Sentiment: A separate note warned that major bank stocks are already trading near highs and may be due for a pullback, which can weigh on sentiment around Citigroup even if its fundamentals remain solid. Bank Stocks Are Doing Great, but It’s Time to ‘Take the Money and Run’
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.
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