Citigroup Inc. $C Shares Acquired by Allworth Financial LP

Allworth Financial LP increased its stake in shares of Citigroup Inc. (NYSE:C) by 12.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,592 shares of the company’s stock after buying an additional 7,970 shares during the quarter. Allworth Financial LP’s holdings in Citigroup were worth $8,471,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in C. Vanguard Group Inc. grew its position in Citigroup by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company’s stock worth $19,048,467,000 after purchasing an additional 4,938,923 shares during the last quarter. Capital World Investors boosted its position in shares of Citigroup by 6.5% during the third quarter. Capital World Investors now owns 47,262,626 shares of the company’s stock worth $4,797,292,000 after buying an additional 2,871,074 shares during the period. Fisher Asset Management LLC grew its holdings in Citigroup by 2.7% in the 3rd quarter. Fisher Asset Management LLC now owns 33,040,513 shares of the company’s stock worth $3,353,612,000 after buying an additional 879,056 shares in the last quarter. Franklin Resources Inc. increased its position in Citigroup by 1.8% in the 3rd quarter. Franklin Resources Inc. now owns 32,870,559 shares of the company’s stock valued at $3,336,362,000 after acquiring an additional 580,027 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Citigroup by 17.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 28,125,995 shares of the company’s stock valued at $2,854,788,000 after acquiring an additional 4,211,099 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Citigroup

In other news, Director John Cunningham Dugan sold 2,117 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $125.30, for a total value of $265,260.10. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the insider directly owned 182,022 shares of the company’s stock, valued at $23,919,511.02. This trade represents 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.

Citigroup Trading Down 1.1%

NYSE C opened at $123.39 on Friday. Citigroup Inc. has a twelve month low of $71.65 and a twelve month high of $135.29. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market cap of $210.46 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 0.56 and a beta of 1.14. The firm’s 50 day moving average price is $119.50 and its two-hundred day moving average price is $114.04.

Citigroup (NYSE:C) last released its 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. The company had revenue of $24.63 billion during 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%.The company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.96 earnings per share. Equities analysts anticipate that Citigroup Inc. will post 10.65 EPS for the current year.

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

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, May 4th. Citigroup’s dividend payout ratio is currently 29.74%.

Analyst Ratings Changes

A number of research analysts have issued reports on C shares. Barclays boosted their price target on Citigroup from $146.00 to $154.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. JPMorgan Chase & Co. lifted their price objective on shares of Citigroup from $131.00 to $135.50 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Wells Fargo & Company upped their price objective on shares of Citigroup from $160.00 to $162.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Jefferies Financial Group assumed coverage on shares of Citigroup in a research report on Thursday, March 26th. They issued a “buy” rating and a $135.00 target price for the company. Finally, Wall Street Zen raised shares of Citigroup from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and a consensus target price of $137.62.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup plans to increase headcount in its Asia-Pacific prime brokerage business by about 10%, signaling confidence in rising hedge fund activity and an opportunity to capture more trading and financing revenue. Article: C to Expand Asia Prime Brokerage Team by 10%, Eyes Hedge Fund Growth
• Positive Sentiment: Separate reports suggest Citigroup is continuing to push its Asia expansion strategy, including potential licensing progress in China and a broader push to strengthen its regional investment-banking and markets presence. Article: Citigroup to Get License for Wholly Owned China Securities Firm as CEO Joins Trump Visit
• Positive Sentiment: Citigroup has also been highlighted in analysis for adopting AI in ways that may generate returns, reinforcing the view that the bank’s technology investments could help support efficiency and profitability. Article: Citigroup: Not Only Adopting AI But Also Generating Returns
• Neutral Sentiment: Bloomberg reported that Citi said African borrowers are becoming more creative in debt sales, which is informative on market conditions but does not clearly change the near-term earnings picture. Article: Citi Says African Borrowers Are Turning Creative on Debt Sales
• Negative Sentiment: Some investors remain focused on whether Citigroup can sustain its post-earnings momentum, with recent commentary noting the stock has already pulled back from the strong rally seen after its latest quarterly results. Article: After a 63.3% Surge in a Year, Is C Stock Worth Holding on to Now?

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.