Citigroup Inc. $C Position Reduced by Inlet Private Wealth LLC

Inlet Private Wealth LLC lessened its stake in Citigroup Inc. (NYSE:C) by 6.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,580 shares of the company’s stock after selling 6,050 shares during the period. Citigroup accounts for about 2.5% of Inlet Private Wealth LLC’s portfolio, making the stock its 9th largest position. Inlet Private Wealth LLC’s holdings in Citigroup were worth $10,920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in C. Brighton Jones LLC increased its stake in Citigroup by 166.9% in 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 period. Sivia Capital Partners LLC increased its position in Citigroup by 20.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 9,805 shares of the company’s stock valued at $835,000 after purchasing an additional 1,669 shares during the period. United Bank purchased a new position in Citigroup during the 2nd quarter valued at about $972,000. Cresset Asset Management LLC increased its position in Citigroup by 3.0% during the 2nd quarter. Cresset Asset Management LLC now owns 34,826 shares of the company’s stock valued at $2,965,000 after purchasing an additional 1,014 shares during the period. Finally, StoneX Group Inc. purchased a new position in Citigroup during the 2nd quarter valued at about $243,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Goldman Sachs raised its price target on Citigroup to $137 and reiterated a “buy” rating — a direct analyst catalyst that boosts investor demand by implying ~17% upside from recent levels. Benzinga
• Positive Sentiment: Citigroup declared a quarterly dividend of $0.60 per share (record May 4, payable May 22) — increases cash return visibility and supports income-focused ownership. (Company announcement)
• Positive Sentiment: Citigroup itself pushed back its Fed rate?cut forecast, now expecting cuts to start in September — a later cut schedule implies higher interest rates for longer, which generally supports banks’ net interest margins and near?term profitability. TipRanks
• Neutral Sentiment: Industry outlook: analysts expect major U.S. banks (including Citigroup) to deliver broadly in?line to slightly better Q1 results — supportive overall but keeps focus on Citigroup’s specific revenue mix and trading/loan trends. ProactiveInvestors
• Negative Sentiment: Wider macro and geopolitical risks (inflation concerns and Middle East tensions) are being flagged by Fed officials and markets — these raise volatility and could weigh on fee businesses, trading revenue and investor sentiment even if higher rates help margins. Blockonomi

Citigroup Stock Up 1.7%

Shares of Citigroup stock opened at $117.25 on Tuesday. The firm’s 50 day moving average price is $112.79 and its 200-day moving average price is $108.77. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.63. Citigroup Inc. has a 52-week low of $55.51 and a 52-week high of $125.16. The company has a market cap of $205.11 billion, a P/E ratio of 16.82, a PEG ratio of 0.74 and a beta of 1.11.

Citigroup (NYSE:C) last issued its quarterly earnings data on Wednesday, January 14th. The company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.16. Citigroup had a net margin of 8.50% and a return on equity of 8.28%. The firm had revenue of $19.87 billion for the quarter, compared to the consensus estimate of $20.99 billion. During the same quarter in the previous year, the firm earned $1.34 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Monday, May 4th will be given a $0.60 dividend. The ex-dividend date of this dividend is Monday, May 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.0%. Citigroup’s payout ratio is presently 34.43%.

Insider Activity

In other news, insider Cantu Ernesto Torres sold 43,173 shares of Citigroup stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $111.09, for a total value of $4,796,088.57. Following the transaction, the insider owned 45,835 shares of the company’s stock, valued at $5,091,810.15. The trade was a 48.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

C has been the topic of a number of research reports. Jefferies Financial Group initiated coverage on shares of Citigroup in a research report on Thursday, March 26th. They set a “buy” rating and a $135.00 target price on the stock. Wolfe Research reissued an “outperform” rating and set a $141.00 target price on shares of Citigroup in a research report on Wednesday, January 7th. HSBC reissued a “buy” rating and set a $87.00 target price on shares of Citigroup in a research report on Wednesday, January 7th. Keefe, Bruyette & Woods raised their target price on shares of Citigroup from $118.00 to $131.00 and gave the company an “outperform” rating in a research report on Wednesday, December 17th. Finally, UBS Group reissued a “neutral” rating and set a $132.00 target price on shares of Citigroup in a research report on Thursday, January 15th. One equities 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $127.59.

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.