SG Trading Solutions LLC Buys New Shares in Citigroup Inc. $C

SG Trading Solutions LLC purchased a new position in Citigroup Inc. (NYSE:C) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 17,058 shares of the company’s stock, valued at approximately $1,990,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Mcguire Capital Advisors Inc. purchased a new stake in shares of Citigroup during the fourth quarter worth about $25,000. Richards Merrill & Peterson Inc. purchased a new position in Citigroup in the 4th quarter worth approximately $28,000. Dunhill Financial LLC boosted its stake in Citigroup by 92.2% in the 3rd quarter. Dunhill Financial LLC now owns 319 shares of the company’s stock worth $32,000 after purchasing an additional 153 shares during the period. Luken Investment Analytics LLC purchased a new stake in Citigroup during the 4th quarter valued at approximately $32,000. Finally, 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 valued at $32,000 after buying an additional 140 shares in the last quarter. 71.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on C. Wall Street Zen upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $139.00 target price on shares of Citigroup in a research note on Wednesday, April 15th. Keefe, Bruyette & Woods lifted their price target on shares of Citigroup from $140.00 to $153.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Wells Fargo & Company boosted their price target on shares of Citigroup from $162.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Citigroup from $131.00 to $135.50 and gave the company an “overweight” rating in a report on Thursday, April 30th. One 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. According to data from MarketBeat, Citigroup has a consensus rating of “Moderate Buy” and an average price target of $137.79.

Citigroup Stock Down 0.3%

Shares of C opened at $143.37 on Friday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $244.52 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12. Citigroup Inc. has a 1 year low of $77.50 and a 1 year high of $147.96. The business’s 50 day simple moving average is $129.47 and its 200-day simple moving average is $119.32.

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

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis 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 share buyback program on Thursday, May 7th that authorizes the company to repurchase $30.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 13.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Key Headlines Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi’s own research still expects the U.S. Federal Reserve to cut interest rates later this year, which could eventually support loan demand and market activity if inflation and employment soften in the second half. Citigroup (C) Still Expects the U.S. Federal Reserve to Cut Interest Rates This Year
• Positive Sentiment: Citigroup announced a senior hiring in its EMEA investment banking franchise, bringing in William Mansfield from Deutsche Bank to lead M&A in the region, a sign it is investing in fee-generating advisory growth. Citi hires Deutsche’s Mansfield to lead EMEA M&A -memo
• Positive Sentiment: Citigroup also launched new research with CREATE-Research on innovation in asset management, reinforcing its positioning in institutional services and client solutions. Citi and CREATE-Research Report: Innovation in Asset Management Pivots to ‘Operational Alpha’
• Neutral Sentiment: Citi’s outlook for Fed cuts was pushed back, with the bank now expecting 25-basis-point reductions in October and December rather than earlier in the year. That change is more a timing shift than a thesis break, but it suggests a less favorable near-term rate backdrop for banks. Citi Predicts Fed Rate Cuts Will Come Later Than Expected
• Neutral Sentiment: Trading activity showed unusually heavy call-option buying in Citigroup, which can indicate bullish speculation or hedging ahead of catalysts. Citigroup options activity
• Negative Sentiment: Higher-for-longer rate commentary from the Fed is a headwind for bank stocks in the near term because it can pressure funding costs and credit quality, even if it helps net interest income initially. Fed Holds Rates But Signals Hike: Key Takeaways for Bank Investors
• Negative Sentiment: Media reports about lawsuits and former-executive allegations tied to Trump-related account handling add a legal and reputational overhang for Citigroup. Citigroup faces lawsuit over alleged Trump-linked account issues

Insider Transactions at Citigroup

In other news, Director John Cunningham Dugan sold 2,117 shares of the business’s 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 sale, the director directly owned 12,194 shares in the company, valued at $1,527,908.20. The trade was a 14.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Edward Skyler sold 25,000 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $131.41, for a total transaction of $3,285,250.00. Following the sale, the insider owned 182,022 shares in the company, valued at $23,919,511.02. This represents a 12.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.11% of the company’s stock.

Citigroup Company 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.