Wick Capital Partners LLC purchased a new position in shares of Citigroup Inc. (NYSE:C – Free Report) during the 4th quarter, Holdings Channel.com reports. The fund purchased 4,393 shares of the company’s stock, valued at approximately $513,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Verus Capital Partners LLC grew its stake 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 valued at $321,000 after acquiring an additional 82 shares in the last quarter. Elmwood Wealth Management Inc. lifted its stake in shares of Citigroup by 1.3% in the fourth quarter. Elmwood Wealth Management Inc. now owns 6,845 shares of the company’s stock worth $799,000 after acquiring an additional 85 shares in the last quarter. Park Place Capital Corp lifted its stake 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 acquiring an additional 85 shares in the last quarter. D.B. Root & Company LLC boosted its holdings in Citigroup by 2.8% in the fourth quarter. D.B. Root & Company LLC now owns 3,191 shares of the company’s stock valued at $372,000 after purchasing an additional 87 shares during the last quarter. Finally, Cornerstone Wealth Management LLC boosted its holdings in Citigroup by 0.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 10,393 shares of the company’s stock valued at $1,213,000 after purchasing an additional 87 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.
Citigroup Stock Down 0.3%
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. The company has a market capitalization of $244.52 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12. Citigroup Inc. has a one year low of $77.50 and a one year high of $147.96. The stock has a 50-day simple moving average of $129.47 and a 200 day simple moving average of $119.32.
Citigroup declared that its board has approved a stock buyback plan on Thursday, May 7th that allows the company to repurchase $30.00 billion in shares. This repurchase authorization allows the company to repurchase up to 13.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
Citigroup Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Monday, May 4th. Citigroup’s payout ratio is 29.74%.
Insider Activity at Citigroup
In other Citigroup news, Director John Cunningham Dugan sold 2,117 shares of Citigroup stock in a transaction on Friday, May 8th. The shares were sold at an average price of $125.30, for a total value of $265,260.10. Following the completion of the transaction, the director owned 12,194 shares of the company’s stock, valued at $1,527,908.20. The trade was a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Edward Skyler sold 25,000 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $131.41, for a total transaction of $3,285,250.00. Following the sale, the insider 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 disclosure for this sale is available in the SEC filing. Corporate insiders own 0.11% of the company’s stock.
Trending Headlines about Citigroup
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
Wall Street Analysts Forecast Growth
C has been the topic of several analyst reports. Wells Fargo & Company lifted their price objective on Citigroup from $162.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citigroup in a research report on Monday, April 20th. The Goldman Sachs Group increased their target price on Citigroup from $137.00 to $151.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Oppenheimer restated an “outperform” rating and issued a $145.00 price target on shares of Citigroup in a research note on Friday, May 8th. Finally, Barclays lifted their price target on shares of Citigroup from $146.00 to $154.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. One 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 company. According to MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.79.
Check Out Our Latest Stock Analysis on Citigroup
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.
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