SmartHarvest Portfolios LLC Buys Shares of 5,739 Citigroup Inc. $C

SmartHarvest Portfolios LLC bought a new position in shares of Citigroup Inc. (NYSE:C) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,739 shares of the company’s stock, valued at approximately $670,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Verus Capital Partners LLC increased its stake in Citigroup by 3.1% during the 4th quarter. Verus Capital Partners LLC now owns 2,748 shares of the company’s stock valued at $321,000 after buying an additional 82 shares during the period. Elmwood Wealth Management Inc. lifted its stake in shares of Citigroup by 1.3% in the 4th quarter. Elmwood Wealth Management Inc. now owns 6,845 shares of the company’s stock worth $799,000 after acquiring an additional 85 shares during the period. Park Place Capital Corp boosted its holdings in shares of Citigroup by 16.7% in the fourth quarter. Park Place Capital Corp now owns 595 shares of the company’s stock valued at $69,000 after acquiring an additional 85 shares in the last quarter. D.B. Root & Company LLC boosted its holdings in shares of Citigroup by 2.8% in the fourth quarter. D.B. Root & Company LLC now owns 3,191 shares of the company’s stock valued at $372,000 after acquiring an additional 87 shares in the last quarter. Finally, Cornerstone Wealth Management LLC increased its stake in shares of Citigroup by 0.8% during the fourth quarter. Cornerstone Wealth Management LLC now owns 10,393 shares of the company’s stock valued at $1,213,000 after acquiring an additional 87 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director John Cunningham Dugan sold 2,117 shares of the stock in a transaction on 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 owned 12,194 shares in the company, valued at $1,527,908.20. This trade represents a 14.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Edward Skyler sold 25,000 shares of Citigroup 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 directly owned 182,022 shares in the company, valued at $23,919,511.02. This represents a 12.08% decrease in their position. The SEC filing for this sale provides additional information. 0.11% of the stock is owned by insiders.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup is rolling out tokenized depositary receipts for private-company shares, a move that could broaden access to private markets and create a new growth avenue for the bank. Article title
• Positive Sentiment: Reuters reported that Citi hired Ryan Beaupré as a managing director in its consumer and retail investment banking group, signaling continued effort to expand the franchise and deepen client coverage. Article title
• Positive Sentiment: Citigroup’s recent earnings beat and revenue growth continue to support the stock, with Q1 EPS and revenue both topping expectations and underscoring improving operating momentum. Article title
• Neutral Sentiment: President Trump publicly praised Citigroup and CEO Jane Fraser for M&A advisory work, which helped sentiment, but some reports noted the ranking was overstated, limiting the fundamental impact. Article title
• Neutral Sentiment: Market commentary also pointed to Citigroup’s turnaround progress, solid trading conditions, and a constructive investment banking outlook, which supports the stock but is largely a continuation of existing optimism. Article title

Citigroup Stock Up 3.4%

C stock opened at $137.89 on Friday. The firm has a market cap of $235.18 billion, a PE ratio of 17.09, a P/E/G ratio of 0.60 and a beta of 1.12. Citigroup Inc. has a 12 month low of $76.11 and a 12 month high of $138.23. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a 50 day simple moving average of $126.85 and a 200 day simple moving average of $117.91.

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, topping the consensus estimate of $2.63 by $0.43. The firm had revenue of $24.63 billion for the quarter, compared to analyst estimates of $22.96 billion. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.96 earnings per share. Equities research analysts forecast that Citigroup Inc. will post 10.68 earnings per share for the current fiscal year.

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

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were issued a $0.60 dividend. 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 payout ratio is presently 29.74%.

Analysts Set New Price Targets

Several brokerages recently commented on C. Piper Sandler reissued an “overweight” rating and set a $145.00 target price (up from $125.00) on shares of Citigroup in a report on Wednesday, April 15th. Keefe, Bruyette & Woods lifted their price target on Citigroup from $140.00 to $153.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. The Goldman Sachs Group boosted their price objective on Citigroup from $137.00 to $151.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. Weiss Ratings restated a “buy (b)” rating on shares of Citigroup in a report on Monday, April 20th. Finally, Wells Fargo & Company raised their target price on Citigroup from $160.00 to $162.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.