Thryve Wealth Management LLC Makes New $621,000 Investment in Citigroup Inc. $C

Thryve Wealth Management LLC acquired a new stake in Citigroup Inc. (NYSE:C) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 5,324 shares of the company’s stock, valued at approximately $621,000.

Several other large investors have also modified their holdings of the company. Brighton Jones LLC increased its holdings in shares of Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after acquiring an additional 12,499 shares during the period. Sivia Capital Partners LLC boosted its stake in Citigroup by 20.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 9,805 shares of the company’s stock worth $835,000 after purchasing an additional 1,669 shares during the period. United Bank purchased a new position in Citigroup during the 2nd quarter worth $972,000. Osterweis Capital Management Inc. grew its position in Citigroup by 3,016.7% during the 2nd quarter. Osterweis Capital Management Inc. now owns 935 shares of the company’s stock worth $80,000 after purchasing an additional 905 shares during the last quarter. Finally, HUB Investment Partners LLC increased its stake in Citigroup by 26.9% in the second quarter. HUB Investment Partners LLC now owns 15,287 shares of the company’s stock valued at $1,301,000 after purchasing an additional 3,238 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Citigroup

In related news, Director John Cunningham Dugan sold 2,117 shares of the company’s 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 sale, the director owned 12,194 shares in the company, valued at $1,527,908.20. This represents a 14.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Edward Skyler sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The shares were 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 of the company’s stock, valued at $23,919,511.02. The trade was a 12.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

C has been the subject of a number of research reports. Oppenheimer reiterated an “outperform” rating and set a $145.00 target price on shares of Citigroup in a research note on Friday, May 8th. The Goldman Sachs Group boosted their price target on Citigroup from $137.00 to $151.00 and gave the company a “buy” rating in a research report on Wednesday, April 15th. Evercore set a $139.00 price objective on Citigroup in a research report on Wednesday, April 15th. Truist Financial set a $147.00 target price on Citigroup in a research note on Friday, May 1st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Citigroup in a report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $137.79.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi’s own research still expects the U.S. Federal Reserve to cut interest rates later this year, which could eventually support loan demand and market activity if inflation and employment soften in the second half. Citigroup (C) Still Expects the U.S. Federal Reserve to Cut Interest Rates This Year
• Positive Sentiment: Citigroup announced a senior hiring in its EMEA investment banking franchise, bringing in William Mansfield from Deutsche Bank to lead M&A in the region, a sign it is investing in fee-generating advisory growth. Citi hires Deutsche’s Mansfield to lead EMEA M&A -memo
• Positive Sentiment: Citigroup also launched new research with CREATE-Research on innovation in asset management, reinforcing its positioning in institutional services and client solutions. Citi and CREATE-Research Report: Innovation in Asset Management Pivots to ‘Operational Alpha’
• Neutral Sentiment: Citi’s outlook for Fed cuts was pushed back, with the bank now expecting 25-basis-point reductions in October and December rather than earlier in the year. That change is more a timing shift than a thesis break, but it suggests a less favorable near-term rate backdrop for banks. Citi Predicts Fed Rate Cuts Will Come Later Than Expected
• Neutral Sentiment: Trading activity showed unusually heavy call-option buying in Citigroup, which can indicate bullish speculation or hedging ahead of catalysts. Citigroup options activity
• Negative Sentiment: Higher-for-longer rate commentary from the Fed is a headwind for bank stocks in the near term because it can pressure funding costs and credit quality, even if it helps net interest income initially. Fed Holds Rates But Signals Hike: Key Takeaways for Bank Investors
• Negative Sentiment: Media reports about lawsuits and former-executive allegations tied to Trump-related account handling add a legal and reputational overhang for Citigroup. Citigroup faces lawsuit over alleged Trump-linked account issues

Citigroup Price Performance

Shares of NYSE C opened at $143.37 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99. Citigroup Inc. has a one year low of $77.50 and a one year high of $147.96. The firm has a market capitalization of $244.52 billion, a P/E ratio of 17.77, a PEG ratio of 0.64 and a beta of 1.12. The company’s fifty day moving average is $129.47 and its two-hundred day moving average is $119.32.

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

Citigroup announced that its board has authorized a stock buyback 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 shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Citigroup Announces Dividend

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

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.