MLP3 LLC Makes New Investment in Citigroup Inc. $C

MLP3 LLC bought a new position in Citigroup Inc. (NYSE:C) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 6,915 shares of the company’s stock, valued at approximately $807,000. Citigroup accounts for about 0.9% of MLP3 LLC’s investment portfolio, making the stock its 26th largest position.

Other large investors have also added to or reduced their stakes in the company. Truist Financial Corp grew its position in shares of Citigroup by 4.7% during the 4th quarter. Truist Financial Corp now owns 375,977 shares of the company’s stock valued at $43,873,000 after acquiring an additional 16,744 shares during the period. Kovitz Investment Group Partners LLC grew its position in shares of Citigroup by 17.3% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 663,416 shares of the company’s stock valued at $67,337,000 after acquiring an additional 98,082 shares during the period. Gunderson Capital Management Inc. bought a new stake in shares of Citigroup during the 4th quarter valued at $7,165,000. Brighton Jones LLC grew its position in shares of Citigroup by 166.9% during the 4th 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 period. Finally, PNC Financial Services Group Inc. grew its position in shares of Citigroup by 4.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 416,872 shares of the company’s stock valued at $42,313,000 after acquiring an additional 18,029 shares during the period. Institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Citigroup in a research report on Thursday, March 26th. They set a “buy” rating and a $135.00 price objective for the company. Royal Bank Of Canada reissued an “outperform” rating and set a $139.00 price objective on shares of Citigroup in a research report on Wednesday, April 15th. Zacks Research downgraded shares of Citigroup from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Truist Financial set a $147.00 price objective on shares of Citigroup in a research report on Friday, May 1st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Citigroup in a research report on Monday, April 20th. One investment 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.62.

Insider Buying and Selling at Citigroup

In other Citigroup news, 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 value of $3,285,250.00. Following the sale, the insider owned 182,022 shares in the company, valued at $23,919,511.02. The trade was a 12.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Cunningham Dugan sold 2,117 shares of the business’s stock in a transaction 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 completion of the sale, the director owned 12,194 shares in the company, valued at approximately $1,527,908.20. The trade was a 14.79% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.11% of the company’s stock.

Citigroup Trading Down 0.1%

Shares of Citigroup stock opened at $139.68 on Monday. The company has a market capitalization of $238.23 billion, a P/E ratio of 17.31, a P/E/G ratio of 0.62 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 company has a fifty day moving average of $127.34 and a 200 day moving average of $118.19. Citigroup Inc. has a fifty-two week low of $76.11 and a fifty-two week high of $141.12.

Citigroup (NYSE:C) last issued its 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. 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%. Citigroup’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.96 EPS. On average, sell-side analysts anticipate that Citigroup Inc. will post 10.68 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $2.40 annualized dividend and a yield of 1.7%. Citigroup’s dividend payout ratio is currently 29.74%.

Citigroup announced that its Board of Directors has approved a stock 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 reacquire up to 13.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup launched tokenized Digital Depositary Receipts, creating a new blockchain-based way for clients to gain exposure to private companies and for issuers to tap liquidity, reinforcing Citi’s push into next-generation capital markets. Citigroup Is Rolling Out Tokenized Shares of Private Companies
• Positive Sentiment: Related coverage said Citi is expanding access to private markets with tokenized private-share trading, which could open a new fee-generating business line and strengthen its innovation story with large clients. Citigroup Expands Access to Private Markets With Tokenized Depositary Receipts
• Positive Sentiment: Trump praised Citigroup and CEO Jane Fraser as a top M&A adviser, which helped fuel momentum and reinforced confidence in Citi’s investment banking comeback. Citigroup shares outperform down market after Trump endorsement
• Positive Sentiment: Citi also continued building out its consumer and retail investment banking franchise with a new managing director hire, suggesting management is still investing in growth areas. Citi hires Ryan Beaupré as MD in consumer and retail investment banking push
• Neutral Sentiment: Citi completed the sale of its Polish consumer banking business, continuing its multi-year retreat from underperforming overseas markets. This supports simplification, but it also shows ongoing shrinkage in some international operations. Citi’s overseas retreat advances with sale of Polish business
• Neutral Sentiment: Reports that regulators are probing banks’ use of AI could raise compliance scrutiny for the sector, but there was no Citi-specific issue mentioned. Bank Regulators Probe Industry Use of AI

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.