Cinctive Capital Management LP Has $14.50 Million Stock Position in Citigroup Inc. $C

Cinctive Capital Management LP lowered its position in shares of Citigroup Inc. (NYSE:C) by 29.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 124,253 shares of the company’s stock after selling 51,173 shares during the quarter. Citigroup comprises 0.8% of Cinctive Capital Management LP’s holdings, making the stock its 26th biggest position. Cinctive Capital Management LP’s holdings in Citigroup were worth $14,499,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Verus Capital Partners LLC lifted its holdings in shares of Citigroup by 3.1% during the fourth quarter. Verus Capital Partners LLC now owns 2,748 shares of the company’s stock worth $321,000 after buying an additional 82 shares in the last quarter. Elmwood Wealth Management Inc. lifted its holdings in shares of Citigroup by 1.3% during the fourth quarter. Elmwood Wealth Management Inc. now owns 6,845 shares of the company’s stock worth $799,000 after buying an additional 85 shares in the last quarter. Park Place Capital Corp increased its position in shares of Citigroup by 16.7% in the fourth quarter. Park Place Capital Corp now owns 595 shares of the company’s stock worth $69,000 after purchasing an additional 85 shares during the period. D.B. Root & Company LLC increased its position 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 worth $372,000 after purchasing an additional 87 shares during the period. Finally, Cornerstone Wealth Management LLC increased its position in shares of Citigroup by 0.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 10,393 shares of the company’s stock worth $1,213,000 after purchasing an additional 87 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Price Performance

C stock opened at $143.74 on Thursday. 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 firm has a market cap of $245.16 billion, a P/E ratio of 17.81, a P/E/G ratio of 0.64 and a beta of 1.12. Citigroup Inc. has a 12 month low of $77.26 and a 12 month high of $146.54. The company’s 50-day moving average price is $128.94 and its two-hundred day moving average price is $119.04.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, topping the consensus estimate of $2.63 by $0.43. The firm had revenue of $24.63 billion during the quarter, compared to the consensus estimate of $22.96 billion. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.96 earnings per share. On average, analysts anticipate that Citigroup Inc. will post 10.68 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

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

Citigroup declared that its Board of Directors has approved a stock buyback program on Thursday, May 7th that allows the company to buyback $30.00 billion in shares. This buyback authorization allows the company to reacquire up to 13.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

C has been the topic of a number of analyst reports. Oppenheimer reiterated an “outperform” rating and set a $145.00 price objective on shares of Citigroup in a research note on Friday, May 8th. The Goldman Sachs Group raised their target price on shares of Citigroup from $137.00 to $151.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Wells Fargo & Company set a $165.00 target price on shares of Citigroup and gave the company an “overweight” rating in a report on Thursday. Piper Sandler reissued an “overweight” rating and issued a $145.00 target price (up from $125.00) on shares of Citigroup in a report on Wednesday, April 15th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Citigroup from $140.00 to $153.00 and gave the company an “outperform” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.79.

Insider Activity

In other Citigroup news, Director John Cunningham Dugan sold 2,117 shares of the business’s stock in a transaction dated 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 owned 12,194 shares of the company’s stock, valued at approximately $1,527,908.20. The trade was a 14.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward Skyler sold 25,000 shares of the business’s 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 transaction, the insider directly owned 182,022 shares of the company’s stock, valued at approximately $23,919,511.02. The trade was a 12.08% decrease in their position. The SEC filing for this sale provides additional information. 0.11% of the stock is currently owned by insiders.

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Trading activity showed unusually strong demand for Citigroup call options, suggesting investors are positioning for further upside in the stock.
• Positive Sentiment: Citigroup’s May consumer credit data was mixed but not alarming overall: card delinquencies declined, which may support the view that credit quality remains manageable. Article: Citigroup’s Card Delinquencies Decline, Charge-Offs Rise in May
• Positive Sentiment: The stock is still benefiting from recent momentum tied to strong earnings, restructuring progress, AI-related initiatives and share buybacks, which have helped push shares toward multi-year highs. Article: Citigroup Stock at Multi-Year High: Why Investors Should Stay Invested
• Neutral Sentiment: There was also a report that Citigroup had recently gone long on a more constructive market view via an economist’s call for Fed rate cuts, but this is more macro commentary than a direct company catalyst. Article: Citi chief US economist defends unpopular Fed rate-cut call
• Negative Sentiment: Two lawsuits tied to a former executive’s allegations over Trump-related client concerns and retaliation could create legal and reputational risk for Citigroup if the claims gain traction. Article: Citigroup faces lawsuit over alleged Trump-linked account issues

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.