Global Retirement Partners LLC raised its position in shares of Citigroup Inc. (NYSE:C – Free Report) by 58.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 64,485 shares of the company’s stock after buying an additional 23,837 shares during the quarter. Global Retirement Partners LLC’s holdings in Citigroup were worth $7,525,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of C. Algebris UK Ltd. lifted its position in shares of Citigroup by 13.3% in the fourth quarter. Algebris UK Ltd. now owns 264,738 shares of the company’s stock worth $30,907,000 after purchasing an additional 31,036 shares in the last quarter. Verde Servicos Internacionais S.A. purchased a new stake in shares of Citigroup in the fourth quarter worth approximately $9,471,000. Fi3 FINANCIAL ADVISORS LLC lifted its position in shares of Citigroup by 16.6% in the fourth quarter. Fi3 FINANCIAL ADVISORS LLC now owns 5,794 shares of the company’s stock worth $676,000 after purchasing an additional 823 shares in the last quarter. Sierra Summit Advisors LLC lifted its position in shares of Citigroup by 1.1% in the fourth quarter. Sierra Summit Advisors LLC now owns 179,100 shares of the company’s stock worth $20,899,000 after purchasing an additional 2,013 shares in the last quarter. Finally, MJP Associates Inc. ADV lifted its position in shares of Citigroup by 10.4% in the fourth quarter. MJP Associates Inc. ADV now owns 3,916 shares of the company’s stock worth $457,000 after purchasing an additional 368 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.
Citigroup News Summary
Here are the key news stories impacting Citigroup this week:
- Positive Sentiment: Citigroup shareholders approved an expanded stock incentive plan at the company’s May 20 annual meeting, which should give management more flexibility to retain and motivate employees through equity compensation. Citigroup Shareholders Approve Expanded Stock Incentive Plan
- Positive Sentiment: Several commentary pieces highlighted Citigroup as undervalued or attractive for income-focused investors, reinforcing the view that the stock still has room to rerate after recent earnings improvement. 5 Most Undervalued US Stocks According to Hedge Funds Why Citigroup (C) is a Top Dividend Stock for Your Portfolio
- Neutral Sentiment: Citigroup also remained active in market commentary on India IPOs and currency controls, but these reports are more about its broader banking views than a direct business update for the company. Citi sees India IPOs hitting fresh records despite challenges Citi Sees India IPOs Hitting Fresh Records Despite Challenges
- Neutral Sentiment: There was also a report that Trump backed away from requiring banks to collect citizenship information, which slightly reduces regulatory overhang but does not materially change Citigroup’s near-term fundamentals. Trump backs down from idea of banks collecting citizenship information
- Negative Sentiment: On the other hand, Citi faced fresh governance scrutiny after a separate report said more shareholders voted against the bank’s say-on-pay proposal, signaling some dissatisfaction with executive compensation practices. More Citi shareholders vote ‘no’ on say-on-pay
Analyst Ratings Changes
View Our Latest Analysis on Citigroup
Citigroup Stock Up 0.3%
Shares of Citigroup stock opened at $125.19 on Friday. The stock has a market capitalization of $213.51 billion, a P/E ratio of 15.51, a PEG ratio of 0.56 and a beta of 1.14. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.59. The stock has a 50 day moving average price of $120.72 and a two-hundred day moving average price of $114.77. Citigroup Inc. has a 12-month low of $71.65 and a 12-month high of $135.29.
Citigroup (NYSE:C – Get Free Report) last announced its earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.63 by $0.43. The firm had revenue of $24.63 billion during the quarter, compared to analysts’ expectations of $22.96 billion. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The company’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.96 earnings per share. Equities analysts expect that Citigroup Inc. will post 10.65 earnings per share for the current year.
Citigroup Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Monday, May 4th will be paid a $0.60 dividend. The ex-dividend date is Monday, May 4th. This represents a $2.40 annualized dividend and a dividend yield of 1.9%. Citigroup’s dividend payout ratio (DPR) is presently 29.74%.
Citigroup announced that its Board of Directors has initiated a stock repurchase program on Thursday, May 7th that authorizes the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 13.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
Insider Buying and Selling at Citigroup
In other news, insider Edward Skyler sold 25,000 shares of the firm’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $131.41, for a total value of $3,285,250.00. Following the sale, the insider owned 182,022 shares in the company, valued at approximately $23,919,511.02. This trade represents a 12.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John Cunningham Dugan sold 2,117 shares of the firm’s 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 sale, the director owned 12,194 shares in the company, valued at approximately $1,527,908.20. The trade was a 14.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.11% of the company’s stock.
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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