AMJ Financial Wealth Management Takes $4.10 Million Position in Citigroup Inc. $C

AMJ Financial Wealth Management purchased a new position in Citigroup Inc. (NYSE:C) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 35,133 shares of the company’s stock, valued at approximately $4,100,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Convergence Investment Partners LLC grew its position in Citigroup by 25.8% in the fourth quarter. Convergence Investment Partners LLC now owns 24,620 shares of the company’s stock worth $2,873,000 after acquiring an additional 5,049 shares in the last quarter. Kapstone Financial Advisors LLC bought a new stake in Citigroup in the fourth quarter worth about $292,000. Northwestern Mutual Wealth Management Co. lifted its stake in Citigroup by 3.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 689,775 shares of the company’s stock worth $81,155,000 after purchasing an additional 19,842 shares during the last quarter. SkyOak Wealth LLC bought a new stake in Citigroup in the fourth quarter worth about $208,000. Finally, Thrivent Financial for Lutherans grew its stake in shares of Citigroup by 0.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 169,966 shares of the company’s stock valued at $19,844,000 after buying an additional 972 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on C. Zacks Research cut Citigroup from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Wall Street Zen upgraded Citigroup from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. boosted their price objective on Citigroup from $131.00 to $135.50 and gave the company an “overweight” rating in a report on Thursday, April 30th. Weiss Ratings restated a “buy (b)” rating on shares of Citigroup in a report on Monday, April 20th. 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 investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and an average target price of $137.62.

Citigroup Stock Performance

Shares of NYSE:C opened at $123.39 on Friday. The company has a market capitalization of $210.46 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 0.56 and a beta of 1.14. Citigroup Inc. has a 52 week low of $71.65 and a 52 week 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 firm has a 50 day moving average of $119.50 and a 200 day moving average of $114.04.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.63 by $0.43. The business had revenue of $24.63 billion for 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%.The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.96 earnings per share. On average, sell-side analysts predict that Citigroup Inc. will post 10.65 earnings per share for the current fiscal year.

Citigroup Announces Dividend

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

Citigroup announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 7th that authorizes the company to buyback $30.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 13.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other 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 transaction of $265,260.10. Following the transaction, the director directly owned 12,194 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Also, insider Edward Skyler sold 25,000 shares of the company’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $131.41, for a total value of $3,285,250.00. Following 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. Corporate insiders own 0.11% of the company’s stock.

Key Headlines Impacting Citigroup

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?

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.