Citigroup (NYSE:C) Reaches New 52-Week High – Time to Buy?

Citigroup Inc. (NYSE:C)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $137.12 and last traded at $133.60, with a volume of 15079891 shares trading hands. The stock had previously closed at $134.73.

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup launched tokenized Digital Depositary Receipts, creating a new blockchain-based way for clients to gain exposure to private companies and for issuers to tap liquidity, reinforcing Citi’s push into next-generation capital markets. Citigroup Is Rolling Out Tokenized Shares of Private Companies
• Positive Sentiment: Related coverage said Citi is expanding access to private markets with tokenized private-share trading, which could open a new fee-generating business line and strengthen its innovation story with large clients. Citigroup Expands Access to Private Markets With Tokenized Depositary Receipts
• Positive Sentiment: Trump praised Citigroup and CEO Jane Fraser as a top M&A adviser, which helped fuel momentum and reinforced confidence in Citi’s investment banking comeback. Citigroup shares outperform down market after Trump endorsement
• Positive Sentiment: Citi also continued building out its consumer and retail investment banking franchise with a new managing director hire, suggesting management is still investing in growth areas. Citi hires Ryan Beaupré as MD in consumer and retail investment banking push
• Neutral Sentiment: Citi completed the sale of its Polish consumer banking business, continuing its multi-year retreat from underperforming overseas markets. This supports simplification, but it also shows ongoing shrinkage in some international operations. Citi’s overseas retreat advances with sale of Polish business
• Neutral Sentiment: Reports that regulators are probing banks’ use of AI could raise compliance scrutiny for the sector, but there was no Citi-specific issue mentioned. Bank Regulators Probe Industry Use of AI

Analyst Upgrades and Downgrades

Several brokerages have commented on C. The Goldman Sachs Group raised their price target on shares of Citigroup from $137.00 to $151.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Truist Financial set a $147.00 price target on shares of Citigroup in a research note on Friday, May 1st. Oppenheimer restated an “outperform” rating and issued a $145.00 price target on shares of Citigroup in a research note on Friday, May 8th. Barclays raised their price target on shares of Citigroup from $146.00 to $154.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Finally, Piper Sandler restated an “overweight” rating and issued a $145.00 price target (up from $125.00) on shares of Citigroup in a research note on Wednesday, April 15th. One investment 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $137.62.

Citigroup Stock Up 1.2%

The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.59. The firm has a market cap of $238.23 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 0.62 and a beta of 1.12. The stock’s 50 day moving average is $127.34 and its 200 day moving average is $118.06.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.63 by $0.43. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The business had revenue of $24.63 billion for the quarter, compared to analyst estimates of $22.96 billion. During the same quarter last year, the business earned $1.96 earnings per share. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. Analysts forecast that Citigroup Inc. will post 10.68 EPS for the current year.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Monday, May 4th. Citigroup’s dividend payout ratio (DPR) is currently 29.74%.

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

Insider Buying and Selling

In related news, Director John Cunningham Dugan sold 2,117 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 12,194 shares in the company, valued at approximately $1,527,908.20. This trade represents a 14.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction of $3,285,250.00. Following the sale, the insider owned 182,022 shares of the company’s stock, valued at $23,919,511.02. The trade was a 12.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.11% of the stock is owned by company insiders.

Institutional Trading of Citigroup

A number of large investors have recently added to or reduced their stakes in the business. Curry Webb Wealth Management LLC bought a new stake in Citigroup during the first quarter worth approximately $1,068,000. FAS Wealth Partners Inc. boosted its holdings in Citigroup by 2.4% during the first quarter. FAS Wealth Partners Inc. now owns 4,069 shares of the company’s stock worth $461,000 after buying an additional 96 shares in the last quarter. Pine Valley Investments Ltd Liability Co boosted its holdings in Citigroup by 19.0% during the first quarter. Pine Valley Investments Ltd Liability Co now owns 4,019 shares of the company’s stock worth $456,000 after buying an additional 642 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in Citigroup by 20.0% during the first quarter. NewEdge Advisors LLC now owns 249,004 shares of the company’s stock worth $28,239,000 after buying an additional 41,436 shares in the last quarter. Finally, Blue Edge Capital LLC boosted its holdings in Citigroup by 0.5% during the first quarter. Blue Edge Capital LLC now owns 34,376 shares of the company’s stock worth $3,899,000 after buying an additional 160 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

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.