Requisite Capital Management LLC Sells 5,264 Shares of Citigroup Inc. $C

Requisite Capital Management LLC cut its stake in shares of Citigroup Inc. (NYSE:C) by 73.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,950 shares of the company’s stock after selling 5,264 shares during the quarter. Requisite Capital Management LLC’s holdings in Citigroup were worth $228,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Citigroup by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company’s stock valued at $19,048,467,000 after purchasing an additional 4,938,923 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Citigroup by 17.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 28,125,995 shares of the company’s stock valued at $2,854,788,000 after buying an additional 4,211,099 shares during the period. Capital World Investors grew its stake in shares of Citigroup by 6.5% in the 3rd quarter. Capital World Investors now owns 47,262,626 shares of the company’s stock valued at $4,797,292,000 after buying an additional 2,871,074 shares during the period. Bessemer Group Inc. increased its position in Citigroup by 6,172.0% in the 3rd quarter. Bessemer Group Inc. now owns 2,904,795 shares of the company’s stock valued at $294,838,000 after buying an additional 2,858,481 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in Citigroup by 291.4% during the 4th quarter. SG Americas Securities LLC now owns 1,319,549 shares of the company’s stock worth $153,978,000 after buying an additional 2,008,946 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Citigroup

In other news, Director John Cunningham Dugan sold 2,117 shares of the 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 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Edward Skyler sold 25,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $23,919,511.02. This trade represents a 12.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on C shares. Piper Sandler reiterated an “overweight” rating and issued a $145.00 price target (up from $125.00) on shares of Citigroup in a report on Wednesday, April 15th. The Goldman Sachs Group upped their target price on Citigroup from $137.00 to $151.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. Jefferies Financial Group started coverage on Citigroup in a report on Thursday, March 26th. They issued a “buy” rating and a $135.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on shares of Citigroup from $131.00 to $135.50 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $139.00 price objective on shares of Citigroup in a report on Wednesday, April 15th. One 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.62.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup plans to increase headcount in its Asia-Pacific prime brokerage business by about 10%, signaling confidence in rising hedge fund activity and an opportunity to capture more trading and financing revenue. Article: C to Expand Asia Prime Brokerage Team by 10%, Eyes Hedge Fund Growth
• Positive Sentiment: Separate reports suggest Citigroup is continuing to push its Asia expansion strategy, including potential licensing progress in China and a broader push to strengthen its regional investment-banking and markets presence. Article: Citigroup to Get License for Wholly Owned China Securities Firm as CEO Joins Trump Visit
• Positive Sentiment: Citigroup has also been highlighted in analysis for adopting AI in ways that may generate returns, reinforcing the view that the bank’s technology investments could help support efficiency and profitability. Article: Citigroup: Not Only Adopting AI But Also Generating Returns
• Neutral Sentiment: Bloomberg reported that Citi said African borrowers are becoming more creative in debt sales, which is informative on market conditions but does not clearly change the near-term earnings picture. Article: Citi Says African Borrowers Are Turning Creative on Debt Sales
• Negative Sentiment: Some investors remain focused on whether Citigroup can sustain its post-earnings momentum, with recent commentary noting the stock has already pulled back from the strong rally seen after its latest quarterly results. Article: After a 63.3% Surge in a Year, Is C Stock Worth Holding on to Now?

Citigroup Stock Down 0.0%

C stock opened at $123.39 on Monday. Citigroup Inc. has a twelve month low of $71.65 and a twelve month high of $135.29. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.59. The stock’s 50 day moving average is $119.50 and its 200-day moving average is $114.13. The firm has a market capitalization of $210.46 billion, a PE ratio of 15.29, a P/E/G ratio of 0.55 and a beta of 1.14.

Citigroup (NYSE:C) last announced its quarterly 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. The business had revenue of $24.63 billion during the quarter, compared to the consensus estimate of $22.96 billion. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.Citigroup’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.96 earnings per share. Sell-side analysts expect that Citigroup Inc. will post 10.65 EPS for the current fiscal year.

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

Citigroup Announces Dividend

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

About Citigroup

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.