Citigroup Inc. $C Shares Bought by Hartline Investment Corp

Hartline Investment Corp grew its holdings in shares of Citigroup Inc. (NYSE:C) by 26.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 105,064 shares of the company’s stock after acquiring an additional 21,677 shares during the period. Citigroup comprises about 1.3% of Hartline Investment Corp’s investment portfolio, making the stock its 21st biggest holding. Hartline Investment Corp’s holdings in Citigroup were worth $12,260,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of C. Vanguard Group Inc. grew its stake in shares of Citigroup by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company’s stock valued at $19,048,467,000 after acquiring an additional 4,938,923 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Citigroup by 17.6% in the third quarter. Bank of New York Mellon Corp now owns 28,125,995 shares of the company’s stock worth $2,854,788,000 after purchasing an additional 4,211,099 shares in the last quarter. Capital World Investors lifted its holdings in Citigroup by 6.5% in the third quarter. Capital World Investors now owns 47,262,626 shares of the company’s stock worth $4,797,292,000 after acquiring an additional 2,871,074 shares during the last quarter. Bessemer Group Inc. lifted its holdings in Citigroup by 6,172.0% in the third quarter. Bessemer Group Inc. now owns 2,904,795 shares of the company’s stock worth $294,838,000 after acquiring an additional 2,858,481 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in Citigroup by 291.4% in the fourth quarter. SG Americas Securities LLC now owns 1,319,549 shares of the company’s stock worth $153,978,000 after acquiring an additional 2,008,946 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup announced a private credit partnership with BlackRock’s HPS Investment Partners, a large €15 billion deal aimed at expanding direct lending across Europe, the U.K., and later the Middle East. The move could help Citi deepen its presence in private credit and generate new fee income. Citigroup (C) Forms Private Credit Partnership With BlackRock
• Positive Sentiment: Citi’s wealth business is also expanding, with management saying a significant share of new global hiring will be focused on Asia, where the private bank is growing faster and producing better productivity. That supports the bank’s restructuring story and long-term profitability goals. Citi to boost Asia wealth business with ‘significant’ hires, global head says
• Positive Sentiment: Citigroup shareholder approval of an expanded stock incentive plan suggests investors are backing management’s compensation and retention strategy, which can help support execution on the company’s turnaround plan. Citigroup Shareholders Approve Expanded Stock Incentive Plan
• Positive Sentiment: Citigroup also continues to benefit from a broader favorable view from analysts, including comments that Q1 results confirmed improving earnings momentum. Citigroup Upgraded As Q1 Results Confirm Earnings Improvement Direction For Banking Giant
• Neutral Sentiment: Separate commentary noted Citi expects India IPO activity to recover later this year, which is positive for capital markets activity but is more of a medium-term driver than an immediate stock catalyst. Citi sees India IPOs hitting fresh records despite challenges
• Negative Sentiment: One potential overhang is governance pressure: a separate report said more Citi shareholders voted against the bank’s say-on-pay resolution, reflecting concern about executive compensation and Jane Fraser’s pay package. More Citi shareholders vote ‘no’ on say-on-pay

Wall Street Analysts Forecast Growth

C has been the topic of a number of recent research reports. Truist Financial set a $147.00 target price on shares of Citigroup in a report on Friday, May 1st. JPMorgan Chase & Co. raised 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. Royal Bank Of Canada reissued an “outperform” rating and issued a $139.00 target price on shares of Citigroup in a report on Wednesday, April 15th. Morgan Stanley raised their target price on shares of Citigroup from $140.00 to $144.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Finally, Barclays raised their target price on shares of Citigroup from $146.00 to $154.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $137.62.

Citigroup Stock Performance

C opened at $125.10 on Friday. The business’s 50 day moving average is $121.04 and its 200-day moving average is $114.84. The stock has a market cap of $213.36 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 0.56 and a beta of 1.14. 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 twelve month low of $71.65 and a twelve month high of $135.29.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.63 by $0.43. The company had revenue of $24.63 billion for 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 business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.96 earnings per share. On average, analysts predict that Citigroup Inc. will post 10.65 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were given a $0.60 dividend. The ex-dividend date was Monday, May 4th. This represents a $2.40 annualized dividend and a yield of 1.9%. Citigroup’s payout ratio is 29.74%.

Citigroup declared that its Board of Directors has approved a share buyback plan on Thursday, May 7th that authorizes the company to buyback $30.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 13.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity at Citigroup

In other Citigroup news, insider Edward Skyler sold 25,000 shares of Citigroup stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $131.41, for a total transaction of $3,285,250.00. Following the completion of the sale, the insider owned 182,022 shares of the company’s stock, valued at $23,919,511.02. This trade represents a 12.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John Cunningham Dugan sold 2,117 shares of Citigroup 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 sale, the director directly owned 12,194 shares of the company’s stock, valued at $1,527,908.20. This trade represents a 14.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.11% of the company’s stock.

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.