35,365 Shares in Citigroup Inc. $C Purchased by Rayburn West Financial Services LLC

Rayburn West Financial Services LLC bought a new position in shares of Citigroup Inc. (NYSE:C) in the 4th quarter, HoldingsChannel.com reports. The firm bought 35,365 shares of the company’s stock, valued at approximately $4,127,000. Citigroup makes up approximately 2.6% of Rayburn West Financial Services LLC’s portfolio, making the stock its 9th largest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Richards Merrill & Peterson Inc. purchased a new position in Citigroup during the fourth quarter worth about $28,000. Wolff Wiese Magana LLC grew its position in Citigroup by 87.6% during the third quarter. Wolff Wiese Magana LLC now owns 257 shares of the company’s stock worth $26,000 after buying an additional 120 shares in the last quarter. Luken Investment Analytics LLC purchased a new position in Citigroup during the fourth quarter worth about $32,000. Maseco LLP bought a new stake in Citigroup during the fourth quarter worth about $35,000. Finally, MH & Associates Securities Management Corp ADV purchased a new position in shares of Citigroup in the 4th quarter worth about $35,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Citigroup

In other news, insider Cantu Ernesto Torres sold 43,173 shares of the stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $111.09, for a total value of $4,796,088.57. Following the completion of the transaction, the insider owned 45,835 shares of the company’s stock, valued at approximately $5,091,810.15. This represents a 48.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Cunningham Dugan sold 2,117 shares of the 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 completion of the transaction, the director directly owned 12,194 shares of the company’s stock, valued at $1,527,908.20. This represents a 14.79% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 94,435 shares of company stock valued at $11,030,074. Corporate insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

C has been the subject of a number of research reports. Piper Sandler reiterated an “overweight” rating and issued a $145.00 price objective (up from $125.00) on shares of Citigroup in a report on Wednesday, April 15th. Morgan Stanley upped their price objective on Citigroup from $140.00 to $144.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Citigroup in a report on Monday, April 20th. Zacks Research cut Citigroup from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Finally, Barclays upped their price objective on Citigroup from $146.00 to $154.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $137.62.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup’s recent earnings beat, stronger revenue, and higher profitability are reinforcing the case for the bank’s capital-return story, including its newly announced $30 billion share buyback, which signals management confidence and could help support the stock. What’s Fueling Citigroup’s Robust Capital Return Strategy?
• Positive Sentiment: Citigroup’s own market commentary and M&A-related media appearance keep the firm visible as a major Wall Street franchise, though this is more of a branding/leadership item than a direct earnings catalyst. AI Good for Media IP: Citigroup’s Mohr
• Neutral Sentiment: The company also disclosed routine participation notifications and an insider transaction tied to director John Cunningham Dugan, but the sale was relatively small and does not appear to materially change the long-term outlook. SEC Director Sale Filing
• Negative Sentiment: Director John Cunningham Dugan sold 2,117 shares of Citigroup stock, which can create a slight overhang on sentiment even though the transaction was not large relative to the company’s size. Insider Selling: Citigroup (NYSE:C) Director Sells 2,117 Shares of Stock

Citigroup Trading Down 1.9%

NYSE C opened at $124.10 on Thursday. The stock has a 50-day moving average of $118.98 and a 200-day moving average of $113.79. The firm has a market cap of $211.66 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 0.57 and a beta of 1.14. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. Citigroup Inc. has a 1-year low of $71.65 and a 1-year high of $135.29.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.63 by $0.43. The business 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%.Citigroup’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.96 EPS. As a group, sell-side analysts forecast that Citigroup Inc. will post 10.65 EPS for the current year.

Citigroup declared that its Board of Directors has initiated a stock repurchase program on Thursday, May 7th that permits the company to repurchase $30.00 billion in shares. This repurchase authorization permits the company to buy up to 13.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Citigroup Announces Dividend

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