Storgate LLC purchased a new stake in Citigroup Inc. (NYSE:C – Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,704 shares of the company’s stock, valued at approximately $1,016,000. Citigroup accounts for 0.8% of Storgate LLC’s investment portfolio, making the stock its 14th largest position.
A number of other hedge funds also recently bought and sold shares of C. Brighton Jones LLC lifted its holdings in Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after buying an additional 12,499 shares during the period. Sivia Capital Partners LLC lifted its holdings in Citigroup by 20.5% during the second quarter. Sivia Capital Partners LLC now owns 9,805 shares of the company’s stock worth $835,000 after buying an additional 1,669 shares during the period. United Bank purchased a new stake in Citigroup during the second quarter worth $972,000. Osterweis Capital Management Inc. lifted its holdings in Citigroup by 3,016.7% during the second quarter. Osterweis Capital Management Inc. now owns 935 shares of the company’s stock worth $80,000 after buying an additional 905 shares during the period. Finally, HUB Investment Partners LLC lifted its holdings in Citigroup by 26.9% during the second quarter. HUB Investment Partners LLC now owns 15,287 shares of the company’s stock worth $1,301,000 after buying an additional 3,238 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.
Key Stories Impacting Citigroup
Here are the key news stories impacting Citigroup this week:
- Positive Sentiment: Citigroup launched tokenized Digital Depositary Receipts, creating a new blockchain-based way for clients to gain exposure to private companies and for issuers to tap liquidity, reinforcing Citi’s push into next-generation capital markets. Citigroup Is Rolling Out Tokenized Shares of Private Companies
- Positive Sentiment: Related coverage said Citi is expanding access to private markets with tokenized private-share trading, which could open a new fee-generating business line and strengthen its innovation story with large clients. Citigroup Expands Access to Private Markets With Tokenized Depositary Receipts
- Positive Sentiment: Trump praised Citigroup and CEO Jane Fraser as a top M&A adviser, which helped fuel momentum and reinforced confidence in Citi’s investment banking comeback. Citigroup shares outperform down market after Trump endorsement
- Positive Sentiment: Citi also continued building out its consumer and retail investment banking franchise with a new managing director hire, suggesting management is still investing in growth areas. Citi hires Ryan Beaupré as MD in consumer and retail investment banking push
- Neutral Sentiment: Citi completed the sale of its Polish consumer banking business, continuing its multi-year retreat from underperforming overseas markets. This supports simplification, but it also shows ongoing shrinkage in some international operations. Citi’s overseas retreat advances with sale of Polish business
- Neutral Sentiment: Reports that regulators are probing banks’ use of AI could raise compliance scrutiny for the sector, but there was no Citi-specific issue mentioned. Bank Regulators Probe Industry Use of AI
Analyst Upgrades and Downgrades
Check Out Our Latest Stock Analysis on C
Citigroup Price Performance
NYSE C opened at $139.68 on Friday. 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 stock’s fifty day moving average price is $127.34 and its 200 day moving average price is $118.06. Citigroup Inc. has a 1 year low of $76.11 and a 1 year high of $141.12. The company has a market cap of $238.23 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 0.62 and a beta of 1.12.
Citigroup (NYSE:C – Get Free Report) last released its 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 the consensus estimate of $22.96 billion. During the same period in the prior year, the firm earned $1.96 EPS. The firm’s revenue was up 14.1% on a year-over-year basis. As a group, equities research analysts forecast that Citigroup Inc. will post 10.68 earnings per share for the current year.
Citigroup Dividend Announcement
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 $0.60 dividend. This represents a $2.40 annualized dividend 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 announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 7th that authorizes the company to buyback $30.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 13.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
Insider Buying and Selling at Citigroup
In related news, Director John Cunningham Dugan sold 2,117 shares of the company’s stock in a transaction 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 transaction, the director directly owned 12,194 shares of the company’s stock, valued at $1,527,908.20. This represents a 14.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edward Skyler sold 25,000 shares of the company’s stock in a transaction on Wednesday, April 15th. The shares were 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 directly owned 182,022 shares in the company, valued at approximately $23,919,511.02. The trade was a 12.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.11% of the stock is owned by corporate insiders.
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.
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