Northbridge Financial Group LLC Takes $783,000 Position in Citigroup Inc. $C

Northbridge Financial Group LLC acquired a new stake in Citigroup Inc. (NYSE:C) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,708 shares of the company’s stock, valued at approximately $783,000.

Several other hedge funds also recently modified their holdings of the stock. Richards Merrill & Peterson Inc. bought a new stake in Citigroup in the 4th quarter valued at about $28,000. Dunhill Financial LLC increased its position in Citigroup by 92.2% in the 3rd quarter. Dunhill Financial LLC now owns 319 shares of the company’s stock valued at $32,000 after buying an additional 153 shares in the last quarter. Luken Investment Analytics LLC bought a new stake in Citigroup in the 4th quarter valued at about $32,000. High Note Wealth LLC increased its position in Citigroup by 107.7% in the 4th quarter. High Note Wealth LLC now owns 270 shares of the company’s stock valued at $32,000 after buying an additional 140 shares in the last quarter. Finally, Guerra Advisors Inc bought a new stake in Citigroup in the 3rd quarter valued at about $33,000. Institutional investors own 71.72% of the company’s stock.

Insider Buying and Selling at Citigroup

In other Citigroup news, insider Edward Skyler sold 25,000 shares of the stock in a transaction dated 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 completion of the transaction, the insider owned 182,022 shares in the company, valued at $23,919,511.02. This trade represents a 12.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Cunningham Dugan sold 2,117 shares of the stock in a transaction dated 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 $1,527,908.20. This represents a 14.79% decrease in their position. The SEC filing for this sale provides additional information. 0.11% of the stock is currently owned by corporate insiders.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup launched a €15 billion private capital program with BlackRock’s HPS to expand direct lending across EMEA, a move that could strengthen fee-based revenue and deepen its presence in private credit. Article Title
• Positive Sentiment: Citi reported better April card delinquency and charge-off trends year over year, suggesting some improvement in consumer credit quality. Article Title
• Positive Sentiment: Citi received final approval to launch a wholly foreign-owned securities firm in mainland China, expanding its ability to offer investment banking and brokerage services directly in a major market. Article Title
• Positive Sentiment: Citigroup hired former UK lawmaker Chuka Umunna as managing director in its UK investment banking division, a small but notable talent win that may support its EMEA franchise. Article Title
• Neutral Sentiment: Citi’s call that 30-year Treasury yields may next focus on 5.5% reflects its macro view, but it is not a direct operating driver for the bank. Article Title
• Negative Sentiment: CFRA reportedly downgraded Citigroup to Hold, which may be tempering enthusiasm after a strong run in the shares. Article Title

Citigroup Price Performance

C opened at $119.96 on Wednesday. The firm has a market cap of $204.60 billion, a P/E ratio of 14.87, a PEG ratio of 0.55 and a beta of 1.14. The firm has a 50-day moving average of $120.03 and a 200 day moving average of $114.43. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99. Citigroup Inc. has a fifty-two week low of $71.65 and a fifty-two week high of $135.29.

Citigroup (NYSE:C) last announced its quarterly earnings data 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. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The business had revenue of $24.63 billion during the quarter, compared to analyst estimates of $22.96 billion. During the same period in the prior year, the company earned $1.96 earnings per share. Citigroup’s revenue was up 14.1% compared to the same quarter last year. On average, research analysts expect that Citigroup Inc. will post 10.65 EPS for the current year.

Citigroup declared that its Board of Directors has authorized a share repurchase program on Thursday, May 7th that allows the company to buyback $30.00 billion in shares. This buyback authorization allows the company to buy up to 13.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Monday, May 4th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, May 4th. Citigroup’s dividend payout ratio is 29.74%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of Citigroup in a research note on Thursday, March 26th. They set a “buy” rating and a $135.00 price target for the company. Barclays boosted their price target on shares of Citigroup from $146.00 to $154.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Wells Fargo & Company boosted their price target on shares of Citigroup from $160.00 to $162.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. boosted their price target on shares of Citigroup from $131.00 to $135.50 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $139.00 price target on shares of Citigroup in a research note on Wednesday, April 15th. One equities 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $137.62.

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.