Harvest Portfolios Group Inc. Has $6.53 Million Stock Holdings in Citigroup Inc. $C

Harvest Portfolios Group Inc. cut its holdings in Citigroup Inc. (NYSE:C) by 17.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 55,914 shares of the company’s stock after selling 11,608 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Citigroup were worth $6,525,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in C. Brighton Jones LLC lifted its stake in Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after acquiring an additional 12,499 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in Citigroup by 20.5% in the second quarter. Sivia Capital Partners LLC now owns 9,805 shares of the company’s stock valued at $835,000 after acquiring an additional 1,669 shares during the last quarter. United Bank acquired a new stake in Citigroup in the second quarter valued at approximately $972,000. Osterweis Capital Management Inc. lifted its stake in Citigroup by 3,016.7% in the second quarter. Osterweis Capital Management Inc. now owns 935 shares of the company’s stock valued at $80,000 after acquiring an additional 905 shares during the last quarter. Finally, HUB Investment Partners LLC lifted its stake in Citigroup by 26.9% in the second quarter. HUB Investment Partners LLC now owns 15,287 shares of the company’s stock valued at $1,301,000 after acquiring an additional 3,238 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Citigroup

In other Citigroup news, insider Edward Skyler sold 25,000 shares of the 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 sale, the insider directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Cunningham Dugan sold 2,117 shares of the 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 sale, the director directly owned 12,194 shares of the company’s stock, valued at approximately $1,527,908.20. This trade represents a 14.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.11% of the stock is owned by corporate insiders.

Citigroup Price Performance

Shares of Citigroup stock opened at $119.96 on Wednesday. The firm has a fifty day simple moving average of $120.03 and a 200-day simple moving average of $114.43. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. Citigroup Inc. has a 1-year low of $71.65 and a 1-year high of $135.29. The stock has a market capitalization of $204.60 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 0.55 and a beta of 1.14.

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

Citigroup declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 7th that permits the company to buyback $30.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 13.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, May 4th. Citigroup’s dividend payout ratio is presently 29.74%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on C shares. Piper Sandler reiterated an “overweight” rating and issued a $145.00 target price (up from $125.00) on shares of Citigroup in a research note on Wednesday, April 15th. Wells Fargo & Company lifted their target price on shares of Citigroup from $160.00 to $162.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Oppenheimer reiterated an “outperform” rating and issued a $145.00 target price on shares of Citigroup in a research note on Friday, May 8th. Morgan Stanley lifted their target price on shares of Citigroup from $140.00 to $144.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $139.00 price objective on shares of Citigroup in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and an average price target of $137.62.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup launched a €15 billion private capital program with BlackRock’s HPS to expand direct lending across EMEA, a move that could strengthen fee-based revenue and deepen its presence in private credit. Article Title
• Positive Sentiment: Citi reported better April card delinquency and charge-off trends year over year, suggesting some improvement in consumer credit quality. Article Title
• Positive Sentiment: Citi received final approval to launch a wholly foreign-owned securities firm in mainland China, expanding its ability to offer investment banking and brokerage services directly in a major market. Article Title
• Positive Sentiment: Citigroup hired former UK lawmaker Chuka Umunna as managing director in its UK investment banking division, a small but notable talent win that may support its EMEA franchise. Article Title
• Neutral Sentiment: Citi’s call that 30-year Treasury yields may next focus on 5.5% reflects its macro view, but it is not a direct operating driver for the bank. Article Title
• Negative Sentiment: CFRA reportedly downgraded Citigroup to Hold, which may be tempering enthusiasm after a strong run in the shares. 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.