Wick Capital Partners LLC Buys New Shares in Citigroup Inc. $C

Wick Capital Partners LLC bought a new position in shares of Citigroup Inc. (NYSE:C) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,393 shares of the company’s stock, valued at approximately $513,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Mcguire Capital Advisors Inc. acquired a new position in shares of Citigroup during the 4th quarter valued at about $25,000. Richards Merrill & Peterson Inc. purchased a new position in shares of Citigroup during the 4th quarter worth about $28,000. Dunhill Financial LLC boosted its position in shares of Citigroup by 92.2% in the third quarter. Dunhill Financial LLC now owns 319 shares of the company’s stock worth $32,000 after acquiring an additional 153 shares during the last quarter. Luken Investment Analytics LLC acquired a new stake in shares of Citigroup in the fourth quarter worth approximately $32,000. Finally, High Note Wealth LLC boosted its position in shares of Citigroup by 107.7% in the fourth quarter. High Note Wealth LLC now owns 270 shares of the company’s stock worth $32,000 after acquiring an additional 140 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented 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 target for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Citigroup in a report on Monday, April 20th. Evercore set a $139.00 price objective on shares of Citigroup in a research note on Wednesday, April 15th. Morgan Stanley upped their price objective on Citigroup from $140.00 to $144.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Finally, Zacks Research lowered Citigroup from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. One research 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $137.79.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi’s own research still expects the U.S. Federal Reserve to cut interest rates later this year, which could eventually support loan demand and market activity if inflation and employment soften in the second half. Citigroup (C) Still Expects the U.S. Federal Reserve to Cut Interest Rates This Year
• Positive Sentiment: Citigroup announced a senior hiring in its EMEA investment banking franchise, bringing in William Mansfield from Deutsche Bank to lead M&A in the region, a sign it is investing in fee-generating advisory growth. Citi hires Deutsche’s Mansfield to lead EMEA M&A -memo
• Positive Sentiment: Citigroup also launched new research with CREATE-Research on innovation in asset management, reinforcing its positioning in institutional services and client solutions. Citi and CREATE-Research Report: Innovation in Asset Management Pivots to ‘Operational Alpha’
• Neutral Sentiment: Citi’s outlook for Fed cuts was pushed back, with the bank now expecting 25-basis-point reductions in October and December rather than earlier in the year. That change is more a timing shift than a thesis break, but it suggests a less favorable near-term rate backdrop for banks. Citi Predicts Fed Rate Cuts Will Come Later Than Expected
• Neutral Sentiment: Trading activity showed unusually heavy call-option buying in Citigroup, which can indicate bullish speculation or hedging ahead of catalysts. Citigroup options activity
• Negative Sentiment: Higher-for-longer rate commentary from the Fed is a headwind for bank stocks in the near term because it can pressure funding costs and credit quality, even if it helps net interest income initially. Fed Holds Rates But Signals Hike: Key Takeaways for Bank Investors
• Negative Sentiment: Media reports about lawsuits and former-executive allegations tied to Trump-related account handling add a legal and reputational overhang for Citigroup. Citigroup faces lawsuit over alleged Trump-linked account issues

Insider Transactions at Citigroup

In other Citigroup news, insider Edward Skyler sold 25,000 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $131.41, for a total transaction of $3,285,250.00. Following the transaction, the insider owned 182,022 shares in the company, valued at $23,919,511.02. The trade was a 12.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John Cunningham Dugan sold 2,117 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $125.30, for a total value of $265,260.10. Following the completion of the sale, the director directly owned 12,194 shares of the company’s stock, valued at $1,527,908.20. The trade was a 14.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.11% of the company’s stock.

Citigroup Price Performance

C opened at $143.37 on Friday. Citigroup Inc. has a 52-week low of $77.50 and a 52-week high of $147.96. The company has a 50 day moving average of $129.47 and a two-hundred day moving average of $119.32. The company has a market cap of $244.52 billion, a P/E ratio of 17.77, a P/E/G ratio of 0.64 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 (NYSE:C) last issued its earnings results on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.63 by $0.43. The business had revenue of $24.63 billion for 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 business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.96 EPS. On average, analysts expect that Citigroup Inc. will post 10.68 earnings per share for the current year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were issued a $0.60 dividend. 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 is currently 29.74%.

Citigroup announced that its board has initiated a share 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 reacquire up to 13.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.