Citigroup Inc. $C Shares Bought by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC lifted its stake in shares of Citigroup Inc. (NYSE:C) by 11.0% during the 4th quarter, HoldingsChannel reports. The firm owned 562,518 shares of the company’s stock after purchasing an additional 55,813 shares during the quarter. Citigroup comprises 0.9% of Foundations Investment Advisors LLC’s investment portfolio, making the stock its 26th biggest position. Foundations Investment Advisors LLC’s holdings in Citigroup were worth $65,640,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Citigroup by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company’s stock worth $19,048,467,000 after purchasing an additional 4,938,923 shares during the last quarter. Capital World Investors boosted its holdings in shares of Citigroup by 6.5% during the 3rd quarter. Capital World Investors now owns 47,262,626 shares of the company’s stock worth $4,797,292,000 after purchasing an additional 2,871,074 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Citigroup by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 43,252,372 shares of the company’s stock worth $5,036,712,000 after purchasing an additional 189,548 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Citigroup by 2.6% during the 4th quarter. Fisher Asset Management LLC now owns 33,887,285 shares of the company’s stock worth $3,954,307,000 after purchasing an additional 846,772 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Citigroup by 1.8% during the 3rd quarter. Franklin Resources Inc. now owns 32,870,559 shares of the company’s stock worth $3,336,362,000 after purchasing an additional 580,027 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward Skyler sold 25,000 shares of the company’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $131.41, for a total value of $3,285,250.00. Following the sale, the insider directly owned 182,022 shares in the company, valued at $23,919,511.02. This represents a 12.08% decrease in their position. The SEC filing for this sale provides additional information. 0.11% of the stock is currently owned by corporate insiders.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Recent coverage highlights Citigroup’s ongoing turnaround under CEO Jane Fraser, with the bank posting decade-high revenue, cutting costs through layoffs and market exits, and restoring investor confidence. Citi’s 5-year comeback: How CEO Jane Fraser turned the bank’s chronic underperformance into decade-high revenue
• Positive Sentiment: Another report says Citigroup’s recent funding activity, living-will approval, and expansion in Asian wealth and private credit suggest a healthier business mix and cleaner regulatory profile. How New Funding, Living Will Approval, and Asian Wealth Push At Citigroup (C) Has Changed Its Investment Story
• Neutral Sentiment: Wall Street commentary also remained constructive, with brokers continuing to view Citigroup as a stock worth owning, though the article was more about analyst-process than a new rating change. Brokers Suggest Investing in Citigroup (C): Read This Before Placing a Bet
• Neutral Sentiment: Citigroup’s stock also moved in line with a broader macro backdrop, as Fed commentary kept rate expectations in focus; that tends to affect bank stocks because it influences net interest income outlooks. Fed’s Cook says she is prepared to raise rates if inflation doesn’t ease

Citigroup Stock Down 1.2%

NYSE:C opened at $125.31 on Thursday. 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’s fifty day moving average is $122.21 and its two-hundred day moving average is $115.45. Citigroup Inc. has a 52 week low of $74.30 and a 52 week high of $135.29. The stock has a market capitalization of $213.72 billion, a price-to-earnings ratio of 15.53, a price-to-earnings-growth ratio of 0.57 and a beta of 1.14.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.63 by $0.43. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The company had revenue of $24.63 billion for the quarter, compared to analysts’ expectations of $22.96 billion. During the same period in the prior year, the firm earned $1.96 earnings per share. The firm’s revenue was up 14.1% compared to the same quarter last year. Research analysts anticipate that Citigroup Inc. will post 10.68 EPS for the current year.

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

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.9%. Citigroup’s dividend payout ratio is currently 29.74%.

Analysts Set New Price Targets

C has been the topic of several recent research reports. Morgan Stanley boosted their target price on Citigroup from $140.00 to $144.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Weiss Ratings restated a “buy (b)” rating on shares of Citigroup in a report on Monday, April 20th. Zacks Research cut Citigroup from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. JPMorgan Chase & Co. upped their price objective on Citigroup from $131.00 to $135.50 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $145.00 price objective (up from $125.00) on shares of Citigroup in a report 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 assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.