Pinkerton Wealth LLC Sells 7,291 Shares of Citigroup Inc. $C

Pinkerton Wealth LLC lessened its holdings in Citigroup Inc. (NYSE:C) by 10.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,480 shares of the company’s stock after selling 7,291 shares during the quarter. Citigroup makes up approximately 0.7% of Pinkerton Wealth LLC’s investment portfolio, making the stock its 28th largest position. Pinkerton Wealth LLC’s holdings in Citigroup were worth $6,941,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Donaldson Capital Management LLC bought a new position in Citigroup during the 3rd quarter worth approximately $58,994,000. Gunderson Capital Management Inc. bought a new position in Citigroup during the 4th quarter worth approximately $7,165,000. Kovitz Investment Group Partners LLC grew its position in shares of Citigroup by 17.3% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 663,416 shares of the company’s stock worth $67,337,000 after buying an additional 98,082 shares during the period. Brighton Jones LLC grew its position 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 buying an additional 12,499 shares during the period. Finally, Adell Harriman & Carpenter Inc. grew its position in shares of Citigroup by 12.7% during the 3rd quarter. Adell Harriman & Carpenter Inc. now owns 102,255 shares of the company’s stock worth $10,379,000 after buying an additional 11,512 shares during the period. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

NYSE C opened at $124.80 on Thursday. The company has a fifty day simple moving average of $120.40 and a 200 day simple moving average of $114.60. Citigroup Inc. has a 12-month low of $71.65 and a 12-month high of $135.29. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. The company has a market cap of $212.85 billion, a P/E ratio of 15.46, a PEG ratio of 0.54 and a beta of 1.14.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.43. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The business had revenue of $24.63 billion during the quarter, compared to the consensus estimate of $22.96 billion. During the same quarter last year, the firm posted $1.96 EPS. Citigroup’s revenue was up 14.1% compared to the same quarter last year. Sell-side analysts predict that Citigroup Inc. will post 10.65 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors 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 yield of 1.9%. Citigroup’s dividend payout ratio (DPR) is presently 29.74%.

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on C. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $139.00 price objective on shares of Citigroup in a research report on Wednesday, April 15th. Oppenheimer reaffirmed an “outperform” rating and set a $145.00 price objective on shares of Citigroup in a research report on Friday, May 8th. Piper Sandler reaffirmed an “overweight” rating and set a $145.00 price objective (up from $125.00) on shares of Citigroup in a research report on Wednesday, April 15th. Zacks Research downgraded shares of Citigroup from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Finally, Truist Financial set a $147.00 price objective on shares of Citigroup in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Citigroup has a consensus rating of “Moderate Buy” and an average target price of $137.62.

Key Headlines Impacting Citigroup

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 and capital solutions in Europe, the Middle East and Africa, a move that could support higher fee income and growth in private credit. Citigroup Taps €15b Private Capital To Grow EMEA Fee Income
• Positive Sentiment: Recent card data showed Citigroup’s April delinquencies and charge-offs improved year over year, suggesting healthier consumer credit trends in its credit-card portfolio. Citigroup’s Card Delinquencies & Charge-Offs Improve Y/Y in April
• Positive Sentiment: Analysts continue to highlight Citigroup as a dividend-focused value idea, reinforcing the stock’s appeal for income-oriented investors. Why Citigroup (C) is a Top Dividend Stock for Your Portfolio

Insider Buying and Selling at Citigroup

In related news, Director John Cunningham Dugan sold 2,117 shares of Citigroup stock in a transaction on Friday, May 8th. The shares were sold at an average price of $125.30, for a total value of $265,260.10. Following the completion of the sale, the director 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Edward Skyler sold 25,000 shares of Citigroup stock in a transaction on 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 sale, the insider directly owned 182,022 shares of the company’s stock, valued at approximately $23,919,511.02. The trade was a 12.08% decrease in their position. The SEC filing for this sale provides additional information. 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.