Maltese Capital Management LLC Sells 76,800 Shares of Citigroup Inc. $C

Maltese Capital Management LLC lessened its holdings in shares of Citigroup Inc. (NYSE:C) by 36.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 132,500 shares of the company’s stock after selling 76,800 shares during the period. Citigroup accounts for approximately 2.7% of Maltese Capital Management LLC’s investment portfolio, making the stock its 2nd biggest position. Maltese Capital Management LLC’s holdings in Citigroup were worth $15,461,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of C. Richards Merrill & Peterson Inc. acquired a new position in Citigroup during the fourth quarter worth $28,000. Luken Investment Analytics LLC acquired a new stake in shares of Citigroup in the 4th quarter worth $32,000. High Note Wealth LLC increased its stake in shares of Citigroup by 107.7% in the 4th quarter. High Note Wealth LLC now owns 270 shares of the company’s stock worth $32,000 after acquiring an additional 140 shares during the last quarter. Entrust Financial LLC purchased a new position in shares of Citigroup during the 4th quarter worth $34,000. Finally, Cornerstone Financial Management LLC acquired a new position in shares of Citigroup during the 4th quarter valued at about $34,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director John Cunningham Dugan sold 2,117 shares of the business’s 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 completion of the transaction, the director directly owned 12,194 shares of the company’s stock, valued at approximately $1,527,908.20. The trade was a 14.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Edward Skyler sold 25,000 shares of the business’s stock in a transaction on 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 approximately $23,919,511.02. The trade was a 12.08% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.11% of the stock is currently owned by corporate insiders.

Citigroup Stock Up 1.0%

NYSE:C opened at $141.18 on Tuesday. Citigroup Inc. has a 52 week low of $76.95 and a 52 week high of $143.56. The stock’s fifty day moving average is $127.86 and its two-hundred day moving average is $118.47. The stock has a market capitalization of $240.80 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 0.62 and a beta of 1.12. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.59.

Citigroup (NYSE:C) last posted its quarterly earnings data 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 return on equity of 9.19% and a net margin of 9.35%.The firm had revenue of $24.63 billion for the quarter, compared to the consensus estimate of $22.96 billion. During the same quarter in the previous year, the business earned $1.96 EPS. The company’s quarterly 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 declared that its Board of Directors has approved a share repurchase plan on Thursday, May 7th that allows the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 13.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Citigroup Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Citigroup from $160.00 to $162.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Evercore set a $139.00 target price on shares of Citigroup in a research note on Wednesday, April 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Citigroup in a research note on Monday, April 20th. Barclays raised their price target on shares of Citigroup from $146.00 to $154.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Finally, Wall Street Zen raised shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. 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 company’s stock. According to MarketBeat, the stock has an average 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 completed the sale of its Polish consumer banking business, marking another step in exiting non-core international consumer operations and simplifying the firm’s structure. C Sheds Polish Arm, Marks Final Exit From Nore-Core Consumer Business
• Positive Sentiment: News that Citi’s CFO sees revenue growth ahead of analyst expectations, along with expansion into blockchain-based trading for private equity clients, has added to investor interest in the stock. Citigroup (C) Stock Valuation After CFO Growth Outlook And Blockchain Trading Expansion
• Positive Sentiment: Jim Cramer said he is “very bullish” on Citigroup, which can help strengthen sentiment around the bank and its management team. Jim Cramer on Citigroup: “Very Bullish”
• Positive Sentiment: Citi-linked commentary also highlighted bullish options positioning on Citigroup, suggesting traders are still betting on continued momentum with limited downside risk. Bullish Spread Targets Citigroup Stock Momentum With Limited Risk
• Neutral Sentiment: Citi also appeared in broader market coverage about bank-stock strength and analyst comparisons, but these were more sector-focused than direct catalysts for Citigroup. Nifty Bank rallies 1000 points
• Neutral Sentiment: Citi’s decision to cut Brent oil forecasts reflects the firm’s broader research views on energy markets, but it is not a major direct driver of Citigroup’s shares. Citi cuts Brent forecasts as U.S.-Iran MoU points to Strait of Hormuz flow normalization

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.