Maltese Capital Management LLC Sells 76,800 Shares of Citigroup Inc. $C

Maltese Capital Management LLC cut its holdings in shares of Citigroup Inc. (NYSE:C) by 36.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 132,500 shares of the company’s stock after selling 76,800 shares during the quarter. Citigroup accounts for about 2.7% of Maltese Capital Management LLC’s portfolio, making the stock its 2nd largest holding. Maltese Capital Management LLC’s holdings in Citigroup were worth $15,461,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in Citigroup by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company’s stock valued at $19,048,467,000 after purchasing an additional 4,938,923 shares during the period. Capital World Investors grew its position in Citigroup by 6.5% during the 3rd quarter. Capital World Investors now owns 47,262,626 shares of the company’s stock worth $4,797,292,000 after purchasing an additional 2,871,074 shares during the period. Geode Capital Management LLC raised its stake in shares of Citigroup by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 43,252,372 shares of the company’s stock valued at $5,036,712,000 after buying an additional 189,548 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Citigroup by 4.0% during the 4th quarter. Franklin Resources Inc. now owns 34,196,783 shares of the company’s stock valued at $3,990,422,000 after buying an additional 1,326,224 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of Citigroup by 2.6% in the 4th quarter. Fisher Asset Management LLC now owns 33,887,285 shares of the company’s stock valued at $3,954,307,000 after buying an additional 846,772 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Citigroup news, insider Edward Skyler sold 25,000 shares of the 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 completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $265,260.10. Following the completion of the sale, the director directly owned 12,194 shares in the company, valued at $1,527,908.20. This represents a 14.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.11% of the stock is owned by company insiders.

Citigroup Stock Performance

NYSE C opened at $141.18 on Tuesday. The stock has a market capitalization of $240.80 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 0.62 and a beta of 1.12. The stock has a 50-day moving average of $127.86 and a 200 day moving average of $118.47. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. Citigroup Inc. has a twelve month low of $76.95 and a twelve month high of $143.56.

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

Citigroup declared that its Board of Directors has authorized a share repurchase plan on Thursday, May 7th that permits the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 13.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Citigroup Announces Dividend

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

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup completed the sale of its Polish consumer banking business, marking another step in exiting non-core international consumer operations and simplifying the firm’s structure. C Sheds Polish Arm, Marks Final Exit From Nore-Core Consumer Business
• Positive Sentiment: News that Citi’s CFO sees revenue growth ahead of analyst expectations, along with expansion into blockchain-based trading for private equity clients, has added to investor interest in the stock. Citigroup (C) Stock Valuation After CFO Growth Outlook And Blockchain Trading Expansion
• Positive Sentiment: Jim Cramer said he is “very bullish” on Citigroup, which can help strengthen sentiment around the bank and its management team. Jim Cramer on Citigroup: “Very Bullish”
• Positive Sentiment: Citi-linked commentary also highlighted bullish options positioning on Citigroup, suggesting traders are still betting on continued momentum with limited downside risk. Bullish Spread Targets Citigroup Stock Momentum With Limited Risk
• Neutral Sentiment: Citi also appeared in broader market coverage about bank-stock strength and analyst comparisons, but these were more sector-focused than direct catalysts for Citigroup. Nifty Bank rallies 1000 points
• Neutral Sentiment: Citi’s decision to cut Brent oil forecasts reflects the firm’s broader research views on energy markets, but it is not a major direct driver of Citigroup’s shares. Citi cuts Brent forecasts as U.S.-Iran MoU points to Strait of Hormuz flow normalization

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Jefferies Financial Group assumed coverage on Citigroup in a report on Thursday, March 26th. They set a “buy” rating and a $135.00 target price on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Citigroup in a report on Monday, April 20th. Truist Financial set a $147.00 price objective on shares of Citigroup in a research note on Friday, May 1st. Evercore set a $139.00 target price on shares of Citigroup in a report on Wednesday, April 15th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $145.00 target price on shares of Citigroup in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $137.62.

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.