WCG Wealth Advisors LLC Boosts Position in Citigroup Inc. $C

WCG Wealth Advisors LLC grew its stake in Citigroup Inc. (NYSE:C) by 74.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,880 shares of the company’s stock after acquiring an additional 7,608 shares during the quarter. WCG Wealth Advisors LLC’s holdings in Citigroup were worth $2,086,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Richards Merrill & Peterson Inc. purchased a new position in Citigroup during the fourth quarter worth about $28,000. Luken Investment Analytics LLC purchased a new position in shares of Citigroup in the 4th quarter worth about $32,000. High Note Wealth LLC grew its stake in shares of Citigroup by 107.7% in the fourth quarter. High Note Wealth LLC now owns 270 shares of the company’s stock valued at $32,000 after buying an additional 140 shares in the last quarter. Entrust Financial LLC purchased a new stake in shares of Citigroup during the 4th quarter valued at about $34,000. Finally, Maseco LLP purchased a new stake in shares of Citigroup during the 4th quarter valued at about $35,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup reshuffled senior leadership, naming Margo Pilic head of strategy, M&A, and investor relations, a move that could improve execution and simplify decision-making as CEO Jane Fraser continues the bank’s transformation. Citigroup Reshapes Leadership As It Pushes Into Tokenized Deposits
• Positive Sentiment: The bank is joining JPMorgan Chase, Bank of America, and other large lenders on a blockchain-based tokenized deposit network, signaling that Citi wants to stay competitive in next-generation payments and possibly benefit from lower-friction transaction infrastructure. JPMorgan, Citi and Big Banks Plan New Tokenized Deposit System to Answer Crypto
• Positive Sentiment: Investors are also responding to Citi’s growing use of AI in operations, including a document-review system that cuts account-opening review time from about an hour to 15 minutes, which may point to better efficiency and cost savings over time. Citi Used AI to Shrink a 60-Minute Document Review to 15 Minutes
• Neutral Sentiment: Citi also announced redemptions of $3.15 billion of notes due in 2027, a routine balance-sheet management move that does not appear to be a major catalyst on its own. Citigroup Announces $2.75 Billion Redemption…
• Neutral Sentiment: Several headlines about Citi’s stock becoming overextended and the broader market looking “frothy” may temper enthusiasm, but they read more like caution flags than direct negatives for the company’s fundamentals. The stock market is at its frothiest…

Citigroup Trading Down 1.9%

Shares of NYSE C opened at $132.62 on Friday. The company has a market cap of $226.19 billion, a price-to-earnings ratio of 16.43, a P/E/G ratio of 0.60 and a beta of 1.12. Citigroup Inc. has a 12 month low of $76.11 and a 12 month high of $135.83. 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 business has a fifty day simple moving average of $124.87 and a 200-day simple moving average of $116.75.

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

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

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Monday, May 4th. Citigroup’s dividend payout ratio is presently 29.74%.

Insider Activity

In other Citigroup news, Director John Cunningham Dugan sold 2,117 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $125.30, for a total value 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 represents a 14.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Edward Skyler sold 25,000 shares of the company’s stock in a transaction dated 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 completion of 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.

Analysts Set New Price Targets

C has been the subject of a number of recent analyst reports. Piper Sandler restated an “overweight” rating and set a $145.00 price objective (up from $125.00) on shares of Citigroup in a research note on Wednesday, April 15th. Jefferies Financial Group started coverage on Citigroup in a report on Thursday, March 26th. They issued a “buy” rating and a $135.00 price target on the stock. Morgan Stanley boosted their price target on shares of Citigroup from $140.00 to $144.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Truist Financial set a $147.00 target price on shares of Citigroup in a research report on Friday, May 1st. Finally, Barclays upped their price target on shares of Citigroup from $146.00 to $154.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. One research 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 has an average rating of “Moderate Buy” and a consensus price target of $137.62.

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.