Citigroup Inc. $C Stock Holdings Reduced by Profund Advisors LLC

Profund Advisors LLC lowered its position in Citigroup Inc. (NYSE:C) by 22.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 19,704 shares of the company’s stock after selling 5,739 shares during the quarter. Profund Advisors LLC’s holdings in Citigroup were worth $2,299,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of C. Donaldson Capital Management LLC acquired a new stake in shares of Citigroup in the third quarter worth about $58,994,000. Gunderson Capital Management Inc. acquired a new stake in shares of Citigroup in the fourth quarter worth about $7,165,000. Kovitz Investment Group Partners LLC lifted its position in shares of Citigroup by 17.3% in the third quarter. Kovitz Investment Group Partners LLC now owns 663,416 shares of the company’s stock worth $67,337,000 after buying an additional 98,082 shares during the last quarter. Brighton Jones LLC lifted its position in shares of Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after buying an additional 12,499 shares during the last quarter. Finally, Adell Harriman & Carpenter Inc. lifted its position in shares of Citigroup by 12.7% in the third quarter. Adell Harriman & Carpenter Inc. now owns 102,255 shares of the company’s stock worth $10,379,000 after buying an additional 11,512 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Zacks Research cut Citigroup from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Oppenheimer reissued an “outperform” rating and set a $145.00 price objective on shares of Citigroup in a research report on Friday, May 8th. Piper Sandler reissued an “overweight” rating and set a $145.00 price objective (up from $125.00) on shares of Citigroup in a research report on Wednesday, April 15th. 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. Finally, Truist Financial set a $147.00 price objective on Citigroup in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.62.

Insider Activity at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 2,117 shares of the company’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 value of $265,260.10. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Edward Skyler sold 25,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 182,022 shares of the company’s stock, valued at approximately $23,919,511.02. The trade was a 12.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.11% of the company’s stock.

Citigroup News Roundup

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 Price Performance

NYSE C opened at $119.96 on Wednesday. The stock has a 50-day simple moving average of $120.03 and a 200 day simple moving average of $114.43. 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 stock has a market capitalization of $204.60 billion, a PE ratio of 14.87, a P/E/G ratio of 0.55 and a beta of 1.14. Citigroup Inc. has a twelve month low of $71.65 and a twelve month high of $135.29.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, beating the consensus estimate of $2.63 by $0.43. The firm had revenue of $24.63 billion during the quarter, compared to analysts’ expectations of $22.96 billion. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.96 EPS. Research analysts anticipate that Citigroup Inc. will post 10.65 EPS for the current year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Monday, May 4th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Monday, May 4th. This represents a $2.40 annualized dividend and a yield of 2.0%. Citigroup’s dividend payout ratio is 29.74%.

Citigroup announced that its board has approved a share buyback program on Thursday, May 7th that allows the company to buyback $30.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 13.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Citigroup 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.