Opal Capital LLC Sells 68,754 Shares of Citigroup Inc. $C

Opal Capital LLC reduced its holdings in shares of Citigroup Inc. (NYSE:C) by 76.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,300 shares of the company’s stock after selling 68,754 shares during the period. Opal Capital LLC’s holdings in Citigroup were worth $2,416,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Mcguire Capital Advisors Inc. purchased a new stake in shares of Citigroup in the 4th quarter worth $25,000. Whipplewood Advisors LLC purchased a new position in Citigroup during the first quarter valued at $25,000. Richards Merrill & Peterson Inc. bought a new stake in Citigroup during the fourth quarter valued at about $28,000. TD Capital Management LLC bought a new stake in Citigroup during the fourth quarter valued at about $28,000. Finally, IMG Wealth Management Inc. increased its position in Citigroup by 197.6% in the first quarter. IMG Wealth Management Inc. now owns 244 shares of the company’s stock worth $28,000 after buying an additional 162 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Price Performance

NYSE:C opened at $132.53 on Wednesday. The business’s 50-day simple moving average is $135.48 and its two-hundred day simple moving average is $123.98. Citigroup Inc. has a 52 week low of $87.94 and a 52 week high of $147.96. The stock has a market cap of $226.04 billion, a PE ratio of 14.31, a P/E/G ratio of 0.60 and a beta of 1.11. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.71.

Citigroup (NYSE:C) last released its quarterly earnings data on Tuesday, July 14th. The company reported $3.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.74 by $0.41. The firm had revenue of $24.75 billion during the quarter, compared to analyst estimates of $23.74 billion. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The business’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.96 earnings per share. As a group, analysts forecast that Citigroup Inc. will post 11.2 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Monday, August 3rd will be issued a dividend of $0.67 per share. This is an increase from Citigroup’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $2.68 dividend on an annualized basis and a yield of 2.0%. Citigroup’s payout ratio is 25.92%.

Citigroup announced that its Board of Directors has initiated a share repurchase plan on Thursday, May 7th that authorizes the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 13.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently commented on C shares. Wells Fargo & Company raised their price objective on Citigroup from $162.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, June 18th. Keefe, Bruyette & Woods increased their target price on shares of Citigroup from $140.00 to $153.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. JPMorgan Chase & Co. raised their target price on shares of Citigroup from $135.50 to $149.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Truist Financial lowered their price target on shares of Citigroup from $158.00 to $154.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. Finally, Morgan Stanley upped their price target on shares of Citigroup from $154.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $145.67.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup launched Citi Consolidate, an invoice-processing and payables solution integrated with Infor Nexus. The platform digitizes purchase orders, invoice approvals and payments for corporate clients, potentially strengthening Citi’s transaction-banking relationships and adding recurring fee revenue. Citi Is Now Live With a Trade Digitization Solution Integrating Supply Chain Solutions
• Positive Sentiment: Wall Street strategists identified large banks, including Citigroup, as overlooked beneficiaries of the AI investment cycle. Banks could gain from financing data-center construction, managing payments and providing capital-markets services, broadening Citi’s exposure beyond traditional lending. Wall Street Banks Eyed as Overlooked Beneficiaries of AI Trade
• Positive Sentiment: Analyst commentary remains supportive after Citi’s strong second-quarter performance. The bank’s record results, transformation plan and shareholder-return prospects are being cited as reasons the stock may still offer upside despite its recent rerating. Is Citigroup Stock Still a Buy After Its Blockbuster Q2 Performance?
• Neutral Sentiment: Citigroup expects the Federal Reserve to hold interest rates at its upcoming meeting, while assigning a 33% probability to a hike. A stable-rate outlook could support net interest income, but the possibility of tighter policy keeps investors focused on inflation and credit conditions. Citigroup Expects Fed to Maintain Rates Amid 33% Hike Probability
• Negative Sentiment: Broader concerns that massive AI spending may prove unsustainable represent a risk to banks positioned to finance the buildout. A pullback in AI investment could reduce loan demand, deal activity and market sentiment toward financial stocks. Singapore’s MAS Flags AI Pullback as Threat to Global Markets

Insider Transactions at Citigroup

In other news, Director John Cunningham Dugan sold 2,117 shares of Citigroup stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $125.30, for a total transaction of $265,260.10. Following the sale, the director owned 12,194 shares in the company, valued at $1,527,908.20. This trade represents a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.11% of the stock is currently owned by company insiders.

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.