Citigroup Inc. $C Shares Sold by First Financial Bankshares Inc

First Financial Bankshares Inc cut its stake in shares of Citigroup Inc. (NYSE:C) by 1.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 647,517 shares of the company’s stock after selling 12,508 shares during the period. Citigroup comprises about 1.5% of First Financial Bankshares Inc’s holdings, making the stock its 27th biggest holding. First Financial Bankshares Inc’s holdings in Citigroup were worth $75,559,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Verus Capital Partners LLC grew its holdings in shares of Citigroup by 3.1% during the fourth quarter. Verus Capital Partners LLC now owns 2,748 shares of the company’s stock worth $321,000 after buying an additional 82 shares in the last quarter. Elmwood Wealth Management Inc. grew its holdings in shares of Citigroup by 1.3% during the fourth quarter. Elmwood Wealth Management Inc. now owns 6,845 shares of the company’s stock worth $799,000 after buying an additional 85 shares in the last quarter. Park Place Capital Corp grew its holdings in shares of Citigroup by 16.7% during the fourth quarter. Park Place Capital Corp now owns 595 shares of the company’s stock worth $69,000 after buying an additional 85 shares in the last quarter. D.B. Root & Company LLC grew its holdings in shares of Citigroup by 2.8% during the fourth quarter. D.B. Root & Company LLC now owns 3,191 shares of the company’s stock worth $372,000 after buying an additional 87 shares in the last quarter. Finally, Cornerstone Wealth Management LLC grew its holdings in shares of Citigroup by 0.8% during the fourth quarter. Cornerstone Wealth Management LLC now owns 10,393 shares of the company’s stock worth $1,213,000 after buying an additional 87 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on C. Zacks Research lowered shares of Citigroup from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Morgan Stanley upped their price objective on shares of Citigroup from $140.00 to $144.00 and gave the company an “overweight” rating in a 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 company an “overweight” rating in a report on Wednesday, April 29th. Royal Bank Of Canada reissued an “outperform” rating and issued a $139.00 price objective on shares of Citigroup in a report on Wednesday, April 15th. Finally, Barclays upped their price objective on shares of Citigroup from $146.00 to $154.00 and gave the company an “overweight” rating in a report 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, the company currently has an average rating of “Moderate Buy” and an average target price of $137.62.

Insider Activity

In other Citigroup 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 transaction 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. This trade represents a 14.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Edward Skyler sold 25,000 shares of the 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 of the company’s stock, valued at approximately $23,919,511.02. This trade represents a 12.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.11% of the company’s stock.

Citigroup Trading Up 3.4%

Shares of C stock opened at $137.89 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 firm has a market cap of $235.18 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 0.60 and a beta of 1.12. The company has a 50-day moving average of $126.85 and a two-hundred day moving average of $117.91. Citigroup Inc. has a 1-year low of $76.11 and a 1-year high of $138.23.

Citigroup (NYSE:C) last announced its earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.43. The company had revenue of $24.63 billion during the quarter, compared to analyst estimates of $22.96 billion. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. Citigroup’s revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.96 earnings per share. On average, analysts predict that Citigroup Inc. will post 10.68 EPS for the current year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Monday, May 4th. Citigroup’s dividend payout ratio (DPR) is 29.74%.

Citigroup announced that its Board of Directors has initiated a stock buyback program on Thursday, May 7th that allows the company to buyback $30.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 13.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup is rolling out tokenized depositary receipts for private-company shares, a move that could broaden access to private markets and create a new growth avenue for the bank. Article title
• Positive Sentiment: Reuters reported that Citi hired Ryan Beaupré as a managing director in its consumer and retail investment banking group, signaling continued effort to expand the franchise and deepen client coverage. Article title
• Positive Sentiment: Citigroup’s recent earnings beat and revenue growth continue to support the stock, with Q1 EPS and revenue both topping expectations and underscoring improving operating momentum. Article title
• Neutral Sentiment: President Trump publicly praised Citigroup and CEO Jane Fraser for M&A advisory work, which helped sentiment, but some reports noted the ranking was overstated, limiting the fundamental impact. Article title
• Neutral Sentiment: Market commentary also pointed to Citigroup’s turnaround progress, solid trading conditions, and a constructive investment banking outlook, which supports the stock but is largely a continuation of existing optimism. Article title

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.