Steel Grove Capital Advisors LLC Sells 23,156 Shares of Citigroup Inc. $C

Steel Grove Capital Advisors LLC lessened its holdings in shares of Citigroup Inc. (NYSE:C) by 88.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,986 shares of the company’s stock after selling 23,156 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in Citigroup were worth $348,000 at the end of the most recent reporting period.

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

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Recent coverage highlights Citigroup’s ongoing turnaround under CEO Jane Fraser, with the bank posting decade-high revenue, cutting costs through layoffs and market exits, and restoring investor confidence. Citi’s 5-year comeback: How CEO Jane Fraser turned the bank’s chronic underperformance into decade-high revenue
• Positive Sentiment: Another report says Citigroup’s recent funding activity, living-will approval, and expansion in Asian wealth and private credit suggest a healthier business mix and cleaner regulatory profile. How New Funding, Living Will Approval, and Asian Wealth Push At Citigroup (C) Has Changed Its Investment Story
• Neutral Sentiment: Wall Street commentary also remained constructive, with brokers continuing to view Citigroup as a stock worth owning, though the article was more about analyst-process than a new rating change. Brokers Suggest Investing in Citigroup (C): Read This Before Placing a Bet
• Neutral Sentiment: Citigroup’s stock also moved in line with a broader macro backdrop, as Fed commentary kept rate expectations in focus; that tends to affect bank stocks because it influences net interest income outlooks. Fed’s Cook says she is prepared to raise rates if inflation doesn’t ease

Citigroup Trading Down 1.2%

Shares of Citigroup stock opened at $125.31 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. Citigroup Inc. has a 1 year low of $74.30 and a 1 year high of $135.29. The company’s fifty day simple moving average is $122.21 and its 200-day simple moving average is $115.45. The company has a market cap of $213.72 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 0.57 and a beta of 1.14.

Citigroup (NYSE:C) last posted 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. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The company had revenue of $24.63 billion for the quarter, compared to analyst estimates of $22.96 billion. During the same period last year, the business posted $1.96 EPS. The business’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, sell-side analysts expect 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. Investors of record on Monday, May 4th were given 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 1.9%. Citigroup’s dividend payout ratio (DPR) is 29.74%.

Citigroup declared that its board has approved a stock repurchase plan on Thursday, May 7th that permits the company to repurchase $30.00 billion in shares. This repurchase authorization permits the company to buy up to 13.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Morgan Stanley upped their target price on Citigroup from $140.00 to $144.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. 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 report on Wednesday, April 29th. The Goldman Sachs Group raised their target price on shares of Citigroup from $137.00 to $151.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Oppenheimer reiterated an “outperform” rating and issued a $145.00 target price on shares of Citigroup in a report on Friday, May 8th. Finally, Wall Street Zen upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and an average target price of $137.62.

Insider Activity

In related news, 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 directly owned 182,022 shares in the company, valued at $23,919,511.02. The trade was a 12.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 shares were sold at an average price of $125.30, for a total value 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. This trade represents a 14.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.11% of the company’s stock.

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.