Landscape Capital Management L.L.C. boosted its holdings in shares of Citigroup Inc. (NYSE:C – Free Report) by 19.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,905 shares of the company’s stock after purchasing an additional 4,121 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Citigroup were worth $2,906,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Truist Financial Corp raised its stake in Citigroup by 4.7% during the 4th quarter. Truist Financial Corp now owns 375,977 shares of the company’s stock valued at $43,873,000 after purchasing an additional 16,744 shares during the period. Kovitz Investment Group Partners LLC grew its holdings in Citigroup by 17.3% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 663,416 shares of the company’s stock valued at $67,337,000 after buying an additional 98,082 shares in the last quarter. Gunderson Capital Management Inc. purchased a new position in Citigroup during the 4th quarter valued at approximately $7,165,000. Brighton Jones LLC grew its holdings in Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after buying an additional 12,499 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Citigroup by 4.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 416,872 shares of the company’s stock valued at $42,313,000 after buying an additional 18,029 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.
Citigroup Trading Down 0.1%
Shares of NYSE C opened at $139.68 on Monday. 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 business has a fifty day simple moving average of $127.34 and a two-hundred day simple moving average of $118.19. The firm has a market cap of $238.23 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 0.62 and a beta of 1.12. Citigroup Inc. has a twelve month low of $76.11 and a twelve month high of $141.12.
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 given a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. Citigroup’s payout ratio is 29.74%.
Citigroup announced that its Board of Directors 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 purchase up to 13.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
Citigroup News Roundup
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
Wall Street Analysts Forecast Growth
Several research firms have weighed in on C. Barclays raised their price target on Citigroup from $146.00 to $154.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. JPMorgan Chase & Co. raised their price target on Citigroup from $131.00 to $135.50 and gave the company an “overweight” rating in a report on Thursday, April 30th. Evercore set a $139.00 price target on Citigroup in a report on Wednesday, April 15th. Morgan Stanley raised their price target on Citigroup from $140.00 to $144.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Finally, Piper Sandler restated 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. One investment 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 MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.62.
View Our Latest Report on Citigroup
Insiders Place Their Bets
In other Citigroup news, insider Edward Skyler sold 25,000 shares of Citigroup stock in a transaction 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 completion of the sale, the insider directly owned 182,022 shares of the company’s stock, valued at $23,919,511.02. The trade was a 12.08% decrease in their position. The sale was disclosed in a document filed 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 value of $265,260.10. Following the sale, the director directly owned 12,194 shares of the company’s stock, valued at approximately $1,527,908.20. This trade represents a 14.79% 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.
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.
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