Westpac Banking Corp Has $23.51 Million Position in Citigroup Inc. $C

Westpac Banking Corp trimmed its stake in shares of Citigroup Inc. (NYSE:C) by 4.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 201,447 shares of the company’s stock after selling 9,231 shares during the quarter. Citigroup comprises about 1.5% of Westpac Banking Corp’s investment portfolio, making the stock its 9th biggest position. Westpac Banking Corp’s holdings in Citigroup were worth $23,507,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of C. Richards Merrill & Peterson Inc. bought a new stake in shares of Citigroup during the 4th quarter valued at $28,000. Dunhill Financial LLC lifted its position in shares of Citigroup by 92.2% during the 3rd quarter. Dunhill Financial LLC now owns 319 shares of the company’s stock valued at $32,000 after acquiring an additional 153 shares during the period. Luken Investment Analytics LLC bought a new stake in shares of Citigroup during the 4th quarter valued at $32,000. High Note Wealth LLC lifted its position in shares of Citigroup by 107.7% during the 4th quarter. High Note Wealth LLC now owns 270 shares of the company’s stock valued at $32,000 after acquiring an additional 140 shares during the period. Finally, Guerra Advisors Inc bought a new stake in shares of Citigroup during the 3rd quarter valued at $33,000. 71.72% of the stock is currently owned by institutional investors.

Insider Transactions at Citigroup

In other Citigroup news, insider Edward Skyler sold 25,000 shares of the company’s stock in a transaction dated 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 owned 182,022 shares of the company’s stock, valued at $23,919,511.02. This represents a 12.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction, the director directly owned 12,194 shares of the company’s stock, valued at approximately $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. 0.11% of the stock is owned by corporate insiders.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup’s tokenization research is drawing attention, with the bank projecting the tokenized securities market could reach $5.5 trillion by 2030, reinforcing its position as an early leader in a fast-growing financial technology theme. Citigroup Forecasts Tokenized Securities Market Will Hit $5.5 Trillion
• Positive Sentiment: Citigroup has also been cited as outperforming the broader market and the Dow, reflecting continued investor confidence in the bank’s earnings power and relative stock performance. Citigroup (C) Outperforms Broader Market: What You Need to Know
• Positive Sentiment: Jim Cramer described Citigroup as “fantastic,” adding another bullish media mention that can help sentiment around the stock. Jim Cramer Believes Citigroup (C) Is Fantastic
• Neutral Sentiment: Several articles reference Citi’s market views on other sectors, including tech positioning risk and copper bullishness, but these are more informative about the bank’s research desk than directly material for Citigroup’s near-term earnings or stock price. Citi’s Chew Sees US Tech Stocks at Risk From Bullish Positioning

Citigroup Stock Up 1.7%

Shares of NYSE:C opened at $131.32 on Wednesday. The company has a fifty day moving average of $123.27 and a 200-day moving average of $115.99. The company has a market capitalization of $223.97 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 0.58 and a beta of 1.12. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99. Citigroup Inc. has a 52-week low of $75.44 and a 52-week high of $135.29.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.43. The company had revenue of $24.63 billion during 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 company’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.96 earnings per share. On average, equities analysts predict that Citigroup Inc. will post 10.68 EPS for the current fiscal year.

Citigroup declared that its Board of Directors has initiated a share repurchase program on Thursday, May 7th that permits the company to repurchase $30.00 billion in shares. This repurchase authorization permits the company to reacquire up to 13.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Monday, May 4th. Citigroup’s dividend payout ratio is presently 29.74%.

Analyst Ratings Changes

A number of analysts have recently weighed in on C shares. JPMorgan Chase & Co. upped their target price on Citigroup from $131.00 to $135.50 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Piper Sandler reissued an “overweight” rating and set a $145.00 price target (up from $125.00) on shares of Citigroup in a report on Wednesday, April 15th. Wells Fargo & Company boosted their price target on Citigroup from $160.00 to $162.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Evercore set a $139.00 price target on Citigroup in a report on Wednesday, April 15th. Finally, Barclays boosted their price target on Citigroup from $146.00 to $154.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $137.62.

Citigroup Company 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.