Sit Investment Associates Inc. lessened its position in Citigroup Inc. (NYSE:C – Free Report) by 12.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40,055 shares of the company’s stock after selling 5,570 shares during the quarter. Sit Investment Associates Inc.’s holdings in Citigroup were worth $4,674,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in C. Truist Financial Corp increased its stake in Citigroup by 4.7% during the 4th quarter. Truist Financial Corp now owns 375,977 shares of the company’s stock valued at $43,873,000 after purchasing an additional 16,744 shares in the last quarter. Kovitz Investment Group Partners LLC increased its position in shares of Citigroup by 17.3% during the third quarter. Kovitz Investment Group Partners LLC now owns 663,416 shares of the company’s stock valued at $67,337,000 after acquiring an additional 98,082 shares in the last quarter. Gunderson Capital Management Inc. purchased a new position in Citigroup in the 4th quarter worth approximately $7,165,000. Brighton Jones LLC raised its holdings in Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after acquiring an additional 12,499 shares during the last quarter. Finally, UniSuper Management Pty Ltd lifted its position in Citigroup by 38.8% in the 4th quarter. UniSuper Management Pty Ltd now owns 1,306,851 shares of the company’s stock valued at $152,496,000 after acquiring an additional 365,041 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.
Citigroup Price Performance
Shares of C opened at $143.37 on Friday. The firm has a fifty day simple moving average of $129.86 and a two-hundred day simple moving average of $119.49. The firm has a market cap of $244.52 billion, a PE ratio of 17.77, a P/E/G ratio of 0.64 and a beta of 1.12. 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 $77.50 and a 1-year high of $147.96.
Citigroup Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors 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 presently 29.74%.
Citigroup announced that its Board of Directors has initiated a stock buyback program on Thursday, May 7th that permits the company to buyback $30.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 13.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
Wall Street Analyst Weigh In
A number of analysts have commented on C shares. Wall Street Zen raised Citigroup from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. upped their price target on Citigroup from $131.00 to $135.50 and gave the company an “overweight” rating in a report on Thursday, April 30th. The Goldman Sachs Group lifted their price objective on Citigroup from $137.00 to $151.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Piper Sandler reissued an “overweight” rating and issued a $145.00 target price (up from $125.00) on shares of Citigroup in a research report on Wednesday, April 15th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $139.00 target price on shares of Citigroup in a research note on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and a consensus price target of $137.79.
View Our Latest Stock Analysis on Citigroup
Insiders Place Their Bets
In other Citigroup news, insider Edward Skyler sold 25,000 shares of the business’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 sale, the insider owned 182,022 shares in the company, valued at $23,919,511.02. The trade was a 12.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the director directly owned 12,194 shares of the company’s stock, valued at $1,527,908.20. This trade represents a 14.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.11% of the company’s stock.
More Citigroup News
Here are the key news stories impacting Citigroup this week:
- Positive Sentiment: Citi’s latest macro view suggests the Federal Reserve may keep rates higher for longer, which could boost net interest income for Citigroup (C) if short-term yields remain elevated. Citi Predicts Fed Rate Cuts Will Come Later Than Expected
- Positive Sentiment: The bank also announced a leadership move in Asia, appointing JianXun Toh to lead corporate banking in Japan, Asia North and Australia, reinforcing its push to grow institutional banking in a key region. Citigroup (C) Appoints JianXun Toh To Lead Corporate Banking In JANA
- Positive Sentiment: Analyst sentiment remains supportive, with Citigroup receiving a consensus “Moderate Buy” rating, which can help reinforce investor confidence in the stock. Citigroup Inc. (NYSE:C) Receives Consensus Recommendation of “Moderate Buy” from Analysts
- Neutral Sentiment: Citi also highlighted innovation in asset management with a new report on “operational alpha,” underscoring its broader financial-services research franchise, though the direct stock impact is limited. Citi and CREATE-Research Report: Innovation in Asset Management Pivots to ‘Operational Alpha’
- Negative Sentiment: A Reuters/Fox Business report said the Justice Department is probing transactions tied to a network linked to Iran’s supreme leader, including possible connections to Wall Street firms such as Citigroup, creating headline risk for the bank. DOJ probes JPMorgan, Citigroup transactions tied to Iran supreme leader’s business network
Citigroup 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.
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