Citigroup Inc. $C is Rock Point Advisors LLC’s Largest Position

Rock Point Advisors LLC lowered its position in shares of Citigroup Inc. (NYSE:C) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 195,132 shares of the company’s stock after selling 9,235 shares during the period. Citigroup makes up approximately 5.7% of Rock Point Advisors LLC’s portfolio, making the stock its largest position. Rock Point Advisors LLC’s holdings in Citigroup were worth $22,770,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in C. Wolff Wiese Magana LLC increased its holdings in shares of Citigroup by 87.6% in the 3rd quarter. Wolff Wiese Magana LLC now owns 257 shares of the company’s stock worth $26,000 after purchasing an additional 120 shares in the last quarter. Richards Merrill & Peterson Inc. bought a new stake in Citigroup in the 4th quarter worth about $28,000. Dunhill Financial LLC lifted its stake in Citigroup by 92.2% during the 3rd 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 period. Luken Investment Analytics LLC purchased a new stake in shares of Citigroup during the 4th quarter valued at about $32,000. Finally, Guerra Advisors Inc bought a new stake in shares of Citigroup in the third quarter worth approximately $33,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Up 0.4%

C stock opened at $126.32 on Wednesday. The business’s 50-day moving average price is $118.72 and its 200-day moving average price is $113.60. The stock has a market cap of $215.45 billion, a P/E ratio of 15.65, a PEG ratio of 0.56 and a beta of 1.14. 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 Inc. has a twelve month low of $71.65 and a twelve month high of $135.29.

Citigroup (NYSE:C) last released its earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.43. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The company had revenue of $24.63 billion during the quarter, compared to analyst estimates 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, equities research analysts forecast that Citigroup Inc. will post 10.65 EPS for the current year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Monday, May 4th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Monday, May 4th. Citigroup’s 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 shares. This buyback authorization permits the company to reacquire up to 13.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on C shares. Zacks Research cut shares of Citigroup from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Truist Financial set a $147.00 price objective on Citigroup in a report on Friday, May 1st. Evercore set a $139.00 target price on Citigroup in a report on Wednesday, April 15th. Morgan Stanley boosted their price target on Citigroup from $140.00 to $144.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Finally, The Goldman Sachs Group increased their price objective on shares of Citigroup from $137.00 to $151.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $137.62.

Insider Transactions at Citigroup

In related news, insider Edward Skyler sold 25,000 shares of Citigroup stock in a transaction that occurred 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 sale, the insider owned 182,022 shares of the company’s stock, valued at approximately $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 can be accessed through this link. Also, Director John Cunningham Dugan sold 2,117 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $125.30, for a total value of $265,260.10. Following the completion of the transaction, the director owned 12,194 shares of the company’s stock, valued at $1,527,908.20. The trade was a 14.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 94,435 shares of company stock valued at $11,030,074 over the last 90 days. Company insiders own 0.11% of the company’s stock.

Key Headlines Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Analysts said Citigroup’s strong earnings, excess capital, and active buybacks are supporting a robust capital return strategy, which is positive for shareholder value. What’s Fueling Citigroup’s Robust Capital Return Strategy?
• Positive Sentiment: Citigroup’s recent earnings report beat expectations on both profit and revenue, helping support investor confidence in the bank’s operating momentum.
• Neutral Sentiment: Citigroup disclosed routine participation notifications and a director stock sale, but neither item appears large enough to materially change the long-term investment thesis. SEC Director Sale Filing
• Neutral Sentiment: Citi strategists’ market commentary on US equities and the Kospi index reflects the firm’s broader research activity, but it is not a direct catalyst for Citigroup shares. Citi’s Manthey Says US Stock Outperformance Has Further to Run
• Negative Sentiment: Director John Cunningham Dugan sold 2,117 shares, a modest insider sale that could slightly weigh on sentiment even though the amount is not especially large.

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.