Rare Wolf Capital LLC Takes $897,000 Position in Citigroup Inc. $C

Rare Wolf Capital LLC bought a new position in shares of Citigroup Inc. (NYSE:C) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 7,691 shares of the company’s stock, valued at approximately $897,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Richards Merrill & Peterson Inc. acquired a new position in shares of Citigroup in the 4th quarter valued at about $28,000. Dunhill Financial LLC grew its stake in Citigroup by 92.2% during the third quarter. Dunhill Financial LLC now owns 319 shares of the company’s stock worth $32,000 after purchasing an additional 153 shares during the period. Luken Investment Analytics LLC bought a new stake in Citigroup in the fourth quarter worth approximately $32,000. High Note Wealth LLC increased its holdings in Citigroup by 107.7% in the fourth quarter. High Note Wealth LLC now owns 270 shares of the company’s stock worth $32,000 after purchasing an additional 140 shares in the last quarter. Finally, Entrust Financial LLC acquired a new position in Citigroup in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Trading Down 0.3%

NYSE C opened at $143.37 on Friday. 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 business has a fifty day simple moving average of $129.47 and a 200 day simple moving average of $119.32. Citigroup Inc. has a 12 month low of $77.50 and a 12 month high of $147.96. The firm has a market capitalization of $244.52 billion, a P/E ratio of 17.77, a PEG ratio of 0.64 and a beta of 1.12.

Citigroup (NYSE:C) last issued its quarterly earnings data 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. 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 period in the prior year, the firm posted $1.96 EPS. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, analysts predict that Citigroup Inc. will post 10.68 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Monday, May 4th. Citigroup’s payout ratio is presently 29.74%.

Citigroup declared that its board has authorized a share buyback plan on Thursday, May 7th that authorizes the company to buyback $30.00 billion in shares. This buyback authorization authorizes 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 leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

C has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on Citigroup from $131.00 to $135.50 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Morgan Stanley boosted their target price on shares of Citigroup from $140.00 to $144.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Barclays increased their target price on shares of Citigroup from $146.00 to $154.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Wall Street Zen upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Zacks Research downgraded shares of Citigroup from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $137.79.

Insider Activity

In other news, Director John Cunningham Dugan sold 2,117 shares of the company’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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edward Skyler sold 25,000 shares of the stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $131.41, for a total transaction of $3,285,250.00. Following the transaction, the insider owned 182,022 shares of the company’s stock, valued at $23,919,511.02. This represents a 12.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.11% of the company’s stock.

Key Stories Impacting Citigroup

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

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.