North Dakota State Investment Board Makes New $7.31 Million Investment in Citigroup Inc. $C

North Dakota State Investment Board bought a new position in Citigroup Inc. (NYSE:C) during the 4th quarter, Holdings Channel.com reports. The fund bought 62,606 shares of the company’s stock, valued at approximately $7,305,000.

Several other institutional investors and hedge funds have also bought and sold shares of C. Richards Merrill & Peterson Inc. purchased a new position in Citigroup in the fourth quarter worth about $28,000. Dunhill Financial LLC boosted its position in Citigroup by 92.2% in the third quarter. Dunhill Financial LLC now owns 319 shares of the company’s stock worth $32,000 after purchasing an additional 153 shares during the last quarter. Luken Investment Analytics LLC purchased a new position in Citigroup in the fourth quarter worth about $32,000. Guerra Advisors Inc bought a new position in shares of Citigroup in the third quarter worth about $33,000. Finally, MH & Associates Securities Management Corp ADV bought a new position in shares of Citigroup in the fourth quarter worth about $35,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Price Performance

Shares of Citigroup stock opened at $123.39 on Monday. The stock has a market cap of $210.46 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 0.55 and a beta of 1.14. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a 50 day moving average price of $119.50 and a 200-day moving average price of $114.13. Citigroup Inc. has a one year low of $71.65 and a one year high of $135.29.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.63 by $0.43. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The company had revenue of $24.63 billion during the quarter, compared to analysts’ expectations of $22.96 billion. During the same quarter in the previous year, the business earned $1.96 EPS. Citigroup’s revenue was up 14.1% compared to the same quarter last year. Equities analysts expect that Citigroup Inc. will post 10.65 EPS for the current year.

Citigroup Dividend Announcement

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

Citigroup announced that its Board of Directors has authorized a share buyback plan on Thursday, May 7th that permits the company to buyback $30.00 billion in shares. This buyback authorization permits the company to purchase up to 13.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Citigroup News Roundup

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?

Wall Street Analysts Forecast Growth

Several research firms have recently commented on C. Piper Sandler reaffirmed an “overweight” rating and issued a $145.00 price objective (up from $125.00) on shares of Citigroup in a research note on Wednesday, April 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citigroup in a research note on Monday, April 20th. Wells Fargo & Company raised their price objective on Citigroup from $160.00 to $162.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Keefe, Bruyette & Woods raised their price objective on Citigroup from $140.00 to $153.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $139.00 price objective on shares of Citigroup in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $137.62.

Insiders Place Their Bets

In other Citigroup news, insider Edward Skyler sold 25,000 shares of Citigroup stock in a transaction on 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 completion of the sale, the insider directly owned 182,022 shares of the company’s stock, 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 SEC, which is available at this hyperlink. Also, Director John Cunningham Dugan sold 2,117 shares of Citigroup stock in a transaction 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 sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.11% of the stock is owned by 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.