Great Lakes Advisors LLC Sells 6,143 Shares of Citigroup Inc. $C

Great Lakes Advisors LLC trimmed its holdings in shares of Citigroup Inc. (NYSE:C) by 0.8% during the 4th quarter, Holdings Channel reports. The fund owned 765,411 shares of the company’s stock after selling 6,143 shares during the period. Great Lakes Advisors LLC’s holdings in Citigroup were worth $89,316,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Richards Merrill & Peterson Inc. bought a new position in Citigroup during the 4th quarter worth about $28,000. Luken Investment Analytics LLC bought a new position in Citigroup during the 4th quarter worth about $32,000. High Note Wealth LLC grew its holdings in Citigroup by 107.7% during the 4th quarter. High Note Wealth LLC now owns 270 shares of the company’s stock worth $32,000 after acquiring an additional 140 shares in the last quarter. Entrust Financial LLC bought a new position in Citigroup during the 4th quarter worth about $34,000. Finally, Maseco LLP bought a new position in Citigroup during the 4th quarter worth about $35,000. 71.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on C shares. The Goldman Sachs Group increased their target price on shares of Citigroup from $137.00 to $151.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Weiss Ratings restated a “buy (b)” rating on shares of Citigroup in a report on Monday, April 20th. Wall Street Zen upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Piper Sandler restated an “overweight” rating and issued a $145.00 price target (up from $125.00) on shares of Citigroup in a report on Wednesday, April 15th. Finally, Jefferies Financial Group started coverage on shares of Citigroup in a report on Thursday, March 26th. They issued a “buy” rating and a $135.00 price target on the stock. 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 data from MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and an average price target of $137.62.

Citigroup Stock Up 3.4%

NYSE:C opened at $137.89 on Friday. Citigroup Inc. has a fifty-two week low of $76.11 and a fifty-two week high of $138.23. The stock has a market capitalization of $235.18 billion, a P/E ratio of 17.09, a P/E/G ratio of 0.60 and a beta of 1.12. 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 company’s 50-day simple moving average is $126.85 and its 200-day simple moving average is $117.91.

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

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend 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 declared that its Board of Directors has approved a stock buyback plan on Thursday, May 7th that authorizes the company to repurchase $30.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 13.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup is rolling out tokenized depositary receipts for private-company shares, a move that could broaden access to private markets and create a new growth avenue for the bank. Article title
• Positive Sentiment: Reuters reported that Citi hired Ryan Beaupré as a managing director in its consumer and retail investment banking group, signaling continued effort to expand the franchise and deepen client coverage. Article title
• Positive Sentiment: Citigroup’s recent earnings beat and revenue growth continue to support the stock, with Q1 EPS and revenue both topping expectations and underscoring improving operating momentum. Article title
• Neutral Sentiment: President Trump publicly praised Citigroup and CEO Jane Fraser for M&A advisory work, which helped sentiment, but some reports noted the ranking was overstated, limiting the fundamental impact. Article title
• Neutral Sentiment: Market commentary also pointed to Citigroup’s turnaround progress, solid trading conditions, and a constructive investment banking outlook, which supports the stock but is largely a continuation of existing optimism. Article title

Insider Activity at Citigroup

In related news, insider Edward Skyler sold 25,000 shares of the stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John Cunningham Dugan sold 2,117 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $125.30, for a total transaction of $265,260.10. Following the completion of the transaction, the director directly owned 12,194 shares of the company’s stock, valued at $1,527,908.20. The trade was a 14.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.11% of the company’s stock.

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.