SG Trading Solutions LLC Makes New $1.99 Million Investment in Citigroup Inc. $C

SG Trading Solutions LLC acquired a new stake in shares of Citigroup Inc. (NYSE:C) during the fourth quarter, Holdings Channel.com reports. The firm acquired 17,058 shares of the company’s stock, valued at approximately $1,990,000.

Several other hedge funds and other institutional investors have also made changes to their positions in C. Brighton Jones LLC boosted its stake in shares of Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after purchasing an additional 12,499 shares during the period. Sivia Capital Partners LLC raised its position in Citigroup by 20.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 9,805 shares of the company’s stock worth $835,000 after purchasing an additional 1,669 shares during the period. United Bank bought a new stake in Citigroup in the second quarter worth about $972,000. Osterweis Capital Management Inc. lifted its stake in Citigroup by 3,016.7% in the second quarter. Osterweis Capital Management Inc. now owns 935 shares of the company’s stock worth $80,000 after purchasing an additional 905 shares during the last quarter. Finally, HUB Investment Partners LLC boosted its position in shares of Citigroup by 26.9% during the second quarter. HUB Investment Partners LLC now owns 15,287 shares of the company’s stock valued at $1,301,000 after buying an additional 3,238 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

Shares of C stock opened at $143.37 on Friday. The company has a market capitalization of $244.52 billion, a P/E ratio of 17.77, a P/E/G ratio of 0.64 and a beta of 1.12. The company’s 50-day simple moving average is $129.47 and its two-hundred day simple moving average is $119.32. Citigroup Inc. has a one year low of $77.50 and a one year high of $147.96. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.99 and a quick ratio of 0.99.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.43. The firm had revenue of $24.63 billion during the quarter, compared to the consensus estimate of $22.96 billion. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The company’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.96 earnings per share. As a group, equities analysts anticipate that Citigroup Inc. will post 10.68 EPS for the current year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.7%. The ex-dividend date was Monday, May 4th. Citigroup’s dividend payout ratio (DPR) is presently 29.74%.

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

Analyst Ratings Changes

A number of research firms have recently commented on C. Jefferies Financial Group assumed coverage on Citigroup in a research note on Thursday, March 26th. They set a “buy” rating and a $135.00 target price on the stock. Zacks Research cut Citigroup from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citigroup in a research report on Monday, April 20th. Piper Sandler reiterated an “overweight” rating and issued a $145.00 target price (up from $125.00) on shares of Citigroup in a research note on Wednesday, April 15th. Finally, Wall Street Zen upgraded Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $137.79.

Key Citigroup News

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

Insiders Place Their Bets

In other 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 transaction, the director owned 12,194 shares of the company’s stock, valued at approximately $1,527,908.20. This represents a 14.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the insider owned 182,022 shares in the company, valued at approximately $23,919,511.02. This represents a 12.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.11% of the company’s stock.

Citigroup Company 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.