Delta Global Management LP Buys 101,130 Shares of Citigroup Inc. $C

Delta Global Management LP grew its stake in shares of Citigroup Inc. (NYSE:C) by 20.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 588,487 shares of the company’s stock after buying an additional 101,130 shares during the quarter. Citigroup accounts for approximately 3.1% of Delta Global Management LP’s portfolio, making the stock its 2nd biggest position. Delta Global Management LP’s holdings in Citigroup were worth $68,671,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Citigroup by 3.1% in 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 in the last quarter. Capital World Investors grew its position 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 valued at $4,797,292,000 after acquiring an additional 2,871,074 shares during the period. Geode Capital Management LLC grew its position 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 valued at $5,036,712,000 after acquiring an additional 189,548 shares during the period. Franklin Resources Inc. grew its position in shares of Citigroup by 4.0% during the 4th quarter. Franklin Resources Inc. now owns 34,196,783 shares of the company’s stock valued at $3,990,422,000 after acquiring an additional 1,326,224 shares during the period. Finally, Fisher Asset Management LLC grew its position 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 valued at $3,954,307,000 after acquiring an additional 846,772 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

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

Insider Buying and Selling at Citigroup

In other Citigroup news, insider Edward Skyler sold 25,000 shares of the firm’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $131.41, for a total value of $3,285,250.00. Following the completion of the transaction, the insider directly owned 182,022 shares of the company’s stock, valued at $23,919,511.02. This trade represents a 12.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Cunningham Dugan sold 2,117 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were 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. Additional details regarding this sale are available in the official SEC disclosure. 0.11% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on C shares. Morgan Stanley increased 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. Oppenheimer reissued an “outperform” rating and set a $145.00 target price on shares of Citigroup in a research report on Friday, May 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Citigroup in a research report on Monday, April 20th. Wall Street Zen raised shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $139.00 target price on shares of Citigroup in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and a consensus price target of $137.62.

Citigroup Trading Up 1.0%

Shares of C stock opened at $141.18 on Tuesday. The company’s fifty day simple moving average is $127.86 and its two-hundred day simple moving average is $118.47. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.99 and a quick ratio of 0.99. Citigroup Inc. has a 1 year low of $76.95 and a 1 year high of $143.56. The stock has a market capitalization of $240.80 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 0.62 and a beta of 1.12.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $22.96 billion. During the same quarter in the previous year, the firm posted $1.96 EPS. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, analysts anticipate that Citigroup Inc. will post 10.68 earnings per share for the current year.

Citigroup declared that its Board of Directors has initiated a share buyback plan on Thursday, May 7th that authorizes the company to buyback $30.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 13.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were issued 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 yield of 1.7%. Citigroup’s payout ratio is presently 29.74%.

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.