NWF Advisory Services Inc. Reduces Holdings in Citigroup Inc. $C

NWF Advisory Services Inc. lessened its stake in Citigroup Inc. (NYSE:C) by 12.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,642 shares of the company’s stock after selling 13,360 shares during the period. Citigroup accounts for approximately 1.2% of NWF Advisory Services Inc.’s portfolio, making the stock its 21st largest position. NWF Advisory Services Inc.’s holdings in Citigroup were worth $10,927,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC grew its stake in Citigroup by 166.9% during the 4th 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. Sivia Capital Partners LLC lifted its stake in Citigroup by 20.5% in the second quarter. Sivia Capital Partners LLC now owns 9,805 shares of the company’s stock valued at $835,000 after buying an additional 1,669 shares during the last quarter. United Bank acquired a new stake in shares of Citigroup in the second quarter valued at approximately $972,000. Osterweis Capital Management Inc. grew its position in shares of Citigroup by 3,016.7% during the second quarter. Osterweis Capital Management Inc. now owns 935 shares of the company’s stock worth $80,000 after acquiring an additional 905 shares during the last quarter. Finally, HUB Investment Partners LLC grew its position in shares of Citigroup by 26.9% during the second quarter. HUB Investment Partners LLC now owns 15,287 shares of the company’s stock worth $1,301,000 after acquiring an additional 3,238 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 2,117 shares of the firm’s stock in a transaction dated 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. 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 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.11% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

C has been the topic of a number of recent research reports. Oppenheimer restated an “outperform” rating and issued a $145.00 price objective on shares of Citigroup in a research note on Friday, May 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Citigroup in a research note on Monday, April 20th. Truist Financial set a $147.00 price target on Citigroup in a research report on Friday, May 1st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $139.00 price objective on shares of Citigroup in a research note on Wednesday, April 15th. Finally, Piper Sandler reaffirmed 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. One 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 stock. Based on data from MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and an average price target of $137.79.

Citigroup Stock Performance

Shares of C opened at $143.37 on Friday. 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 Inc. has a 52-week low of $77.50 and a 52-week high of $147.96. The company has a 50-day simple moving average of $129.86 and a 200-day simple moving average of $119.49. The company has a market capitalization of $244.52 billion, a PE ratio of 17.77, a P/E/G ratio of 0.64 and a beta of 1.12.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.43. The business 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 company’s 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. Equities research analysts predict that Citigroup Inc. will post 10.72 earnings per share for the current fiscal year.

Citigroup announced that its board has authorized a share buyback plan on Thursday, May 7th that permits the company to buyback $30.00 billion in shares. This buyback authorization permits the company to repurchase up to 13.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were paid 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 payout ratio is presently 29.74%.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi’s latest macro view suggests the Federal Reserve may keep rates higher for longer, which could boost net interest income for Citigroup (C) if short-term yields remain elevated. Citi Predicts Fed Rate Cuts Will Come Later Than Expected
• Positive Sentiment: The bank also announced a leadership move in Asia, appointing JianXun Toh to lead corporate banking in Japan, Asia North and Australia, reinforcing its push to grow institutional banking in a key region. Citigroup (C) Appoints JianXun Toh To Lead Corporate Banking In JANA
• Positive Sentiment: Analyst sentiment remains supportive, with Citigroup receiving a consensus “Moderate Buy” rating, which can help reinforce investor confidence in the stock. Citigroup Inc. (NYSE:C) Receives Consensus Recommendation of “Moderate Buy” from Analysts
• Neutral Sentiment: Citi also highlighted innovation in asset management with a new report on “operational alpha,” underscoring its broader financial-services research franchise, though the direct stock impact is limited. Citi and CREATE-Research Report: Innovation in Asset Management Pivots to ‘Operational Alpha’
• Negative Sentiment: A Reuters/Fox Business report said the Justice Department is probing transactions tied to a network linked to Iran’s supreme leader, including possible connections to Wall Street firms such as Citigroup, creating headline risk for the bank. DOJ probes JPMorgan, Citigroup transactions tied to Iran supreme leader’s business network

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.