Pinkerton Wealth LLC Sells 7,291 Shares of Citigroup Inc. $C

Pinkerton Wealth LLC lessened its holdings in Citigroup Inc. (NYSE:C) by 10.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,480 shares of the company’s stock after selling 7,291 shares during the quarter. Citigroup accounts for approximately 0.7% of Pinkerton Wealth LLC’s investment portfolio, making the stock its 28th biggest holding. Pinkerton Wealth LLC’s holdings in Citigroup were worth $6,941,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. ABN Amro Investment Solutions lifted its position in shares of Citigroup by 1,039.7% in the fourth quarter. ABN Amro Investment Solutions now owns 87,286 shares of the company’s stock worth $10,185,000 after purchasing an additional 79,627 shares in the last quarter. Kennedy Investment Group increased its holdings in Citigroup by 78.2% during the fourth quarter. Kennedy Investment Group now owns 8,267 shares of the company’s stock worth $965,000 after buying an additional 3,627 shares during the last quarter. IFP Advisors Inc increased its holdings in Citigroup by 134.6% during the fourth quarter. IFP Advisors Inc now owns 27,902 shares of the company’s stock worth $3,256,000 after buying an additional 16,010 shares during the last quarter. TPG Financial Advisors LLC acquired a new position in Citigroup during the fourth quarter worth $204,000. Finally, Adell Harriman & Carpenter Inc. increased its holdings in Citigroup by 12.4% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 114,925 shares of the company’s stock worth $13,411,000 after buying an additional 12,670 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup launched a €15 billion private capital program with BlackRock’s HPS to expand direct lending and capital solutions in Europe, the Middle East and Africa, a move that could support higher fee income and growth in private credit. Citigroup Taps €15b Private Capital To Grow EMEA Fee Income
• Positive Sentiment: Recent card data showed Citigroup’s April delinquencies and charge-offs improved year over year, suggesting healthier consumer credit trends in its credit-card portfolio. Citigroup’s Card Delinquencies & Charge-Offs Improve Y/Y in April
• Positive Sentiment: Analysts continue to highlight Citigroup as a dividend-focused value idea, reinforcing the stock’s appeal for income-oriented investors. Why Citigroup (C) is a Top Dividend Stock for Your Portfolio

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on C. JPMorgan Chase & Co. boosted their target price on shares of Citigroup from $131.00 to $135.50 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Piper Sandler reiterated an “overweight” rating and issued a $145.00 price objective (up from $125.00) on shares of Citigroup in a report on Wednesday, April 15th. Wall Street Zen upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Citigroup in a research report on Monday, April 20th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set 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 assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $137.62.

Insider Transactions at Citigroup

In other 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 value of $265,260.10. Following the completion of the transaction, the director 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 completion of the transaction, the insider directly owned 182,022 shares of the company’s stock, valued at $23,919,511.02. This trade represents a 12.08% decrease in their position. The SEC filing for this sale provides additional information. 0.11% of the stock is currently owned by corporate insiders.

Citigroup Stock Up 4.0%

C stock opened at $124.80 on Thursday. The stock has a market capitalization of $212.85 billion, a P/E ratio of 15.46, a price-to-earnings-growth ratio of 0.54 and a beta of 1.14. 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 12 month low of $71.65 and a 12 month high of $135.29. The firm has a 50-day moving average price of $120.40 and a 200-day moving average price of $114.60.

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

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Monday, May 4th will be issued a $0.60 dividend. 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 29.74%.

Citigroup declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 7th that allows the company to repurchase $30.00 billion in shares. This repurchase authorization allows the company to buy up to 13.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

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.