ProShare Advisors LLC Buys 6,339 Shares of Citigroup Inc. $C

ProShare Advisors LLC lifted its stake in shares of Citigroup Inc. (NYSE:C) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 399,294 shares of the company’s stock after purchasing an additional 6,339 shares during the quarter. ProShare Advisors LLC’s holdings in Citigroup were worth $46,594,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elmwood Wealth Management Inc. increased its holdings in Citigroup by 1.3% during the 4th quarter. Elmwood Wealth Management Inc. now owns 6,845 shares of the company’s stock worth $799,000 after acquiring an additional 85 shares during the period. Park Place Capital Corp increased its holdings in Citigroup by 16.7% during the 4th quarter. Park Place Capital Corp now owns 595 shares of the company’s stock worth $69,000 after acquiring an additional 85 shares during the period. D.B. Root & Company LLC increased its holdings in Citigroup by 2.8% during the 4th quarter. D.B. Root & Company LLC now owns 3,191 shares of the company’s stock worth $372,000 after acquiring an additional 87 shares during the period. Cornerstone Wealth Management LLC increased its holdings in Citigroup by 0.8% during the 4th quarter. Cornerstone Wealth Management LLC now owns 10,393 shares of the company’s stock worth $1,213,000 after acquiring an additional 87 shares during the period. Finally, N.E.W. Advisory Services LLC increased its holdings in Citigroup by 14.9% during the 4th quarter. N.E.W. Advisory Services LLC now owns 703 shares of the company’s stock worth $82,000 after acquiring an additional 91 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Citigroup News Summary

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

Shares of Citigroup stock opened at $119.96 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $204.60 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 0.55 and a beta of 1.14. The business’s 50-day moving average price is $120.03 and its 200-day moving average price is $114.43. Citigroup Inc. has a 12 month low of $71.65 and a 12 month high of $135.29.

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

Citigroup declared that its board has initiated a stock repurchase program on Thursday, May 7th that authorizes the company to buyback $30.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase 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 Dividend Announcement

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

Insider Buying and Selling at Citigroup

In related news, 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 transaction, the director 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Edward Skyler sold 25,000 shares of the firm’s 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 transaction, the insider owned 182,022 shares in the company, valued at approximately $23,919,511.02. The trade was a 12.08% 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 currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Citigroup from $131.00 to $135.50 and gave the stock an “overweight” rating in a report on Thursday, April 30th. The Goldman Sachs Group upped their target price on Citigroup from $137.00 to $151.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. Zacks Research lowered Citigroup from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Wall Street Zen upgraded Citigroup from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Wells Fargo & Company upped their target price on Citigroup from $160.00 to $162.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $137.62.

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.