Citigroup Inc. $C Shares Bought by Ieq Capital LLC

Ieq Capital LLC raised its holdings in Citigroup Inc. (NYSE:C) by 13.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 390,356 shares of the company’s stock after buying an additional 46,327 shares during the period. Ieq Capital LLC’s holdings in Citigroup were worth $45,551,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Richards Merrill & Peterson Inc. purchased a new position in shares of Citigroup during the fourth quarter worth about $28,000. Dunhill Financial LLC grew its holdings in shares of Citigroup by 92.2% during the third quarter. Dunhill Financial LLC now owns 319 shares of the company’s stock worth $32,000 after purchasing an additional 153 shares during the last quarter. Luken Investment Analytics LLC purchased a new position in shares of Citigroup during the fourth quarter worth about $32,000. High Note Wealth LLC grew its holdings in shares of Citigroup by 107.7% during the fourth quarter. High Note Wealth LLC now owns 270 shares of the company’s stock worth $32,000 after purchasing an additional 140 shares during the last quarter. Finally, Entrust Financial LLC purchased a new position in shares of Citigroup during the fourth quarter worth about $34,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Price Performance

Shares of C opened at $139.68 on Friday. The stock’s 50 day moving average is $127.34 and its two-hundred day moving average is $118.06. Citigroup Inc. has a twelve month low of $76.11 and a twelve month high of $141.12. 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 $238.23 billion, a PE ratio of 17.31, a P/E/G ratio of 0.62 and a beta of 1.12.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share (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 company had revenue of $24.63 billion during the quarter, compared to the consensus estimate of $22.96 billion. During the same period last year, the firm earned $1.96 EPS. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. Research analysts anticipate that Citigroup Inc. will post 10.68 earnings per share for the current year.

Citigroup declared that its Board of Directors has initiated a stock buyback program on Thursday, May 7th that authorizes the company to buyback $30.00 billion in 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 a sign that the company’s board of directors believes its stock is undervalued.

Citigroup Dividend Announcement

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

Insider Activity at Citigroup

In related news, Director John Cunningham Dugan sold 2,117 shares of Citigroup stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $125.30, for a total transaction of $265,260.10. Following the completion of the transaction, the director directly owned 12,194 shares in the company, valued at $1,527,908.20. The trade was a 14.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Edward Skyler sold 25,000 shares of Citigroup 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 of the company’s stock, valued at $23,919,511.02. This represents a 12.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on C. JPMorgan Chase & Co. raised their price objective on Citigroup from $131.00 to $135.50 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Evercore set a $139.00 price objective on Citigroup in a report on Wednesday, April 15th. Truist Financial set a $147.00 price objective on Citigroup in a report on Friday, May 1st. Jefferies Financial Group began coverage on Citigroup in a report on Thursday, March 26th. They set a “buy” rating and a $135.00 price objective on the stock. Finally, Zacks Research lowered Citigroup from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $137.62.

Key Citigroup News

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

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.