Citigroup Inc. $C Position Lessened by Family Manage LLC

Family Manage LLC lowered its stake in shares of Citigroup Inc. (NYSE:C) by 60.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,646 shares of the company’s stock after selling 58,488 shares during the quarter. Family Manage LLC’s holdings in Citigroup were worth $4,269,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Cora Capital Advisors LLC boosted its holdings in shares of Citigroup by 3.1% during the first quarter. Cora Capital Advisors LLC now owns 2,609 shares of the company’s stock valued at $296,000 after acquiring an additional 78 shares during the period. CFS Investment Advisory Services LLC increased its holdings in shares of Citigroup by 0.4% in the 1st quarter. CFS Investment Advisory Services LLC now owns 20,596 shares of the company’s stock worth $2,336,000 after acquiring an additional 79 shares during the period. Verus Capital Partners LLC lifted its position in Citigroup by 3.1% in the 4th quarter. Verus Capital Partners LLC now owns 2,748 shares of the company’s stock valued at $321,000 after purchasing an additional 82 shares during the last quarter. CFO Capital Management LLC lifted its position in Citigroup by 1.5% in the 1st quarter. CFO Capital Management LLC now owns 5,495 shares of the company’s stock valued at $590,000 after purchasing an additional 83 shares during the last quarter. Finally, D.B. Root & Company LLC boosted its stake in Citigroup by 2.8% during the 4th 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 period. 71.72% of the stock is currently owned by institutional investors.

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi analysts said the recent pullback in semiconductor stocks looks like a buying opportunity, which may support broader risk appetite and help sentiment around markets that Citigroup covers through its trading and research franchises. Pullback in chip stocks is a buying opportunity, Citi says
• Positive Sentiment: Citigroup was highlighted in a new CMBS deal update, after pricing an $817 million multifamily conduit transaction, reinforcing Citi’s role as an active lender and securitization player in U.S. commercial real estate. Citigroup (C) Sets Post GFC Record With $817 Million Multifamily CMBS Deal
• Neutral Sentiment: Citigroup reportedly closed a bullish South African rand trade after the currency looked “fragile” following South Africa’s surprise rate hold. This is more of a trading update than a major earnings driver, but it shows Citi is actively adjusting macro positions. Citi Drops Rand Bet After South Africa’s Surprise Rate Hold
• Neutral Sentiment: Separately, a headline noting Citi’s bearish view on the “Magnificent Seven” may reflect the bank’s broader market outlook, but it does not directly change Citigroup’s fundamentals. Wall Street Bank Just Declared the Magnificent 7 as “Dead” — What Happens Next?

Insiders Place Their Bets

In other Citigroup news, Director John Cunningham Dugan sold 2,117 shares of the stock in a transaction on 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 directly owned 12,194 shares of the company’s stock, valued at approximately $1,527,908.20. This trade represents a 14.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on C shares. The Goldman Sachs Group upped their target price on shares of Citigroup from $137.00 to $151.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. UBS Group boosted their price objective on Citigroup from $134.00 to $150.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 7th. Oppenheimer lowered Citigroup from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 30th. Wells Fargo & Company raised their target price on Citigroup from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, June 18th. Finally, Truist Financial cut their target price on Citigroup from $158.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.67.

Citigroup Stock Down 0.2%

Citigroup stock opened at $131.95 on Monday. 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 $225.06 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 0.60 and a beta of 1.11. The company’s 50-day moving average price is $135.01 and its two-hundred day moving average price is $123.83. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71.

Citigroup (NYSE:C) last issued its quarterly earnings results 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 company had revenue of $24.75 billion during the quarter, compared to analyst estimates of $23.74 billion. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.96 EPS. On average, analysts expect that Citigroup Inc. will post 11.2 EPS for the current fiscal year.

Citigroup declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 7th that permits the company to buyback $30.00 billion in shares. This buyback authorization permits the company to reacquire up to 13.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Monday, August 3rd will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 2.0%. This is a positive change from Citigroup’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, August 3rd. Citigroup’s payout ratio is currently 25.92%.

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.