John Cunningham Dugan Sells 2,117 Shares of Citigroup (NYSE:C) Stock

Citigroup Inc. (NYSE:C) Director John Cunningham Dugan sold 2,117 shares of Citigroup 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 transaction, the director directly owned 12,194 shares in the company, valued at $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 is accessible through the SEC website.

Citigroup Price Performance

C opened at $124.10 on Thursday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $211.66 billion, a price-to-earnings ratio of 15.38, a P/E/G ratio of 0.57 and a beta of 1.14. The firm’s fifty day moving average price is $118.98 and its two-hundred day moving average price is $113.79. Citigroup Inc. has a 1 year low of $71.65 and a 1 year high of $135.29.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.43. The company had revenue of $24.63 billion for the quarter, compared to the consensus estimate of $22.96 billion. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.96 EPS. As a group, analysts anticipate that Citigroup Inc. will post 10.65 earnings per share for the current fiscal year.

Citigroup announced that its Board of Directors has initiated a share buyback plan on Thursday, May 7th that permits the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 13.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, May 4th. Citigroup’s payout ratio is currently 29.74%.

Institutional Trading of Citigroup

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cora Capital Advisors LLC lifted its stake in Citigroup by 3.1% in the first quarter. Cora Capital Advisors LLC now owns 2,609 shares of the company’s stock worth $296,000 after acquiring an additional 78 shares during the period. CFS Investment Advisory Services LLC raised its holdings in Citigroup by 0.4% in the first quarter. CFS Investment Advisory Services LLC now owns 20,596 shares of the company’s stock worth $2,336,000 after purchasing an additional 79 shares in the last quarter. Verus Capital Partners LLC raised its holdings in Citigroup by 3.1% in the fourth quarter. Verus Capital Partners LLC now owns 2,748 shares of the company’s stock worth $321,000 after purchasing an additional 82 shares in the last quarter. CFO Capital Management LLC raised its holdings in Citigroup by 1.5% in the first quarter. CFO Capital Management LLC now owns 5,495 shares of the company’s stock worth $590,000 after purchasing an additional 83 shares in the last quarter. Finally, Elmwood Wealth Management Inc. raised its holdings in Citigroup by 1.3% in the fourth quarter. Elmwood Wealth Management Inc. now owns 6,845 shares of the company’s stock worth $799,000 after purchasing an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup’s recent earnings beat, stronger revenue, and higher profitability are reinforcing the case for the bank’s capital-return story, including its newly announced $30 billion share buyback, which signals management confidence and could help support the stock. What’s Fueling Citigroup’s Robust Capital Return Strategy?
• Positive Sentiment: Citigroup’s own market commentary and M&A-related media appearance keep the firm visible as a major Wall Street franchise, though this is more of a branding/leadership item than a direct earnings catalyst. AI Good for Media IP: Citigroup’s Mohr
• Neutral Sentiment: The company also disclosed routine participation notifications and an insider transaction tied to director John Cunningham Dugan, but the sale was relatively small and does not appear to materially change the long-term outlook. SEC Director Sale Filing
• Negative Sentiment: Director John Cunningham Dugan sold 2,117 shares of Citigroup stock, which can create a slight overhang on sentiment even though the transaction was not large relative to the company’s size. Insider Selling: Citigroup (NYSE:C) Director Sells 2,117 Shares of Stock

Analysts Set New Price Targets

Several brokerages have recently weighed in on C. Keefe, Bruyette & Woods upped their price target on Citigroup from $140.00 to $153.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Wells Fargo & Company upped their price objective on shares of Citigroup from $160.00 to $162.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Morgan Stanley upped their target price on Citigroup from $140.00 to $144.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Oppenheimer reaffirmed an “outperform” rating and issued a $145.00 target price on shares of Citigroup in a research note on Friday, May 8th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $139.00 target price on shares of Citigroup in a research note on Wednesday, April 15th. One 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $137.62.

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.