Cinctive Capital Management LP Sells 51,173 Shares of Citigroup Inc. $C

Cinctive Capital Management LP reduced its position in shares of Citigroup Inc. (NYSE:C) by 29.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 124,253 shares of the company’s stock after selling 51,173 shares during the quarter. Citigroup accounts for about 0.8% of Cinctive Capital Management LP’s holdings, making the stock its 26th biggest position. Cinctive Capital Management LP’s holdings in Citigroup were worth $14,499,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in C. Richards Merrill & Peterson Inc. bought a new stake in shares of Citigroup during the fourth quarter worth about $28,000. Dunhill Financial LLC boosted its holdings in Citigroup by 92.2% in the third quarter. Dunhill Financial LLC now owns 319 shares of the company’s stock valued at $32,000 after acquiring an additional 153 shares during the last quarter. Luken Investment Analytics LLC bought a new stake in Citigroup in the fourth quarter valued at approximately $32,000. High Note Wealth LLC boosted its holdings in Citigroup by 107.7% in the fourth quarter. High Note Wealth LLC now owns 270 shares of the company’s stock valued at $32,000 after acquiring an additional 140 shares during the last quarter. Finally, Entrust Financial LLC bought a new stake in Citigroup in the fourth quarter valued at approximately $34,000. 71.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on C. Oppenheimer reiterated an “outperform” rating and issued a $145.00 target price on shares of Citigroup in a report on Friday, May 8th. Truist Financial set a $147.00 target price on Citigroup in a report on Friday, May 1st. Wells Fargo & Company set a $165.00 target price on Citigroup and gave the company an “overweight” rating in a report on Thursday. Barclays upped their target price on Citigroup from $146.00 to $154.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Finally, Evercore set a $139.00 target price on Citigroup in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and an average price target of $137.79.

Citigroup Price Performance

Shares of C opened at $143.74 on Thursday. Citigroup Inc. has a 52-week low of $77.26 and a 52-week high of $146.54. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99. The business’s 50 day moving average price is $128.94 and its two-hundred day moving average price is $119.04. The firm has a market cap of $245.16 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12.

Citigroup (NYSE:C) last issued 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 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 analyst estimates of $22.96 billion. During the same period in the previous year, the firm earned $1.96 earnings per share. The company’s revenue was up 14.1% compared to the same quarter last year. On average, equities analysts anticipate that Citigroup Inc. will post 10.68 EPS for the current year.

Citigroup Announces Dividend

The company also recently announced 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. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, May 4th. Citigroup’s dividend payout ratio is presently 29.74%.

Citigroup declared that its Board of Directors has authorized a share buyback plan 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 plans are often an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Citigroup news, 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 completion of the transaction, the insider owned 182,022 shares in the company, valued at $23,919,511.02. This represents a 12.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Cunningham Dugan sold 2,117 shares of the firm’s stock in a transaction dated 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 directly owned 12,194 shares in the company, valued at approximately $1,527,908.20. The trade was a 14.79% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.11% of the stock is owned by corporate insiders.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Trading activity showed unusually strong demand for Citigroup call options, suggesting investors are positioning for further upside in the stock.
• Positive Sentiment: Citigroup’s May consumer credit data was mixed but not alarming overall: card delinquencies declined, which may support the view that credit quality remains manageable. Article: Citigroup’s Card Delinquencies Decline, Charge-Offs Rise in May
• Positive Sentiment: The stock is still benefiting from recent momentum tied to strong earnings, restructuring progress, AI-related initiatives and share buybacks, which have helped push shares toward multi-year highs. Article: Citigroup Stock at Multi-Year High: Why Investors Should Stay Invested
• Neutral Sentiment: There was also a report that Citigroup had recently gone long on a more constructive market view via an economist’s call for Fed rate cuts, but this is more macro commentary than a direct company catalyst. Article: Citi chief US economist defends unpopular Fed rate-cut call
• Negative Sentiment: Two lawsuits tied to a former executive’s allegations over Trump-related client concerns and retaliation could create legal and reputational risk for Citigroup if the claims gain traction. Article: Citigroup faces lawsuit over alleged Trump-linked account issues

Citigroup 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.