Citigroup (NYSE:C) Director Sells $265,260.10 in Stock

Key Points

• Citigroup director John Cunningham Dugan sold 2,117 shares on May 8 for about $265,260, reducing his direct stake by 14.79%. The sale was disclosed in an SEC filing.
• The stock was trading near $126.32, above its 50-day and 200-day moving averages, with a market cap of about $216.63 billion. Citigroup’s valuation metrics include a P/E ratio of 15.65 and a PEG ratio of 0.56.
• Citigroup posted strong quarterly results and shareholder returns, beating earnings and revenue expectations, while also announcing a $30 billion share buyback and a quarterly dividend of $0.60 per share. Analysts remain mostly bullish, with a consensus rating of “Moderate Buy.”

Citigroup Inc. (NYSE:C - Get Free Report) Director John Cunningham Dugan sold 2,117 shares of the firm's stock in a transaction on 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. The trade was a 14.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Citigroup Price Performance

Citigroup stock traded up $0.47 during mid-day trading on Tuesday, hitting $126.32. 9,934,180 shares of the company were exchanged, compared to its average volume of 14,280,994. 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 business's 50 day simple moving average is $118.40 and its two-hundred day simple moving average is $113.39. The company has a market capitalization of $216.63 billion, a P/E ratio of 15.65, a PEG ratio of 0.56 and a beta of 1.14. Citigroup Inc. has a 12-month low of $71.65 and a 12-month high of $135.29.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.43. The company had revenue of $24.63 billion during the quarter, compared to the consensus estimate of $22.96 billion. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.Citigroup's revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.96 earnings per share. Analysts forecast that Citigroup Inc. will post 10.65 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Monday, May 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, May 4th. This represents a $2.40 annualized dividend and a yield of 1.9%. Citigroup's dividend payout ratio (DPR) is presently 29.74%.

Citigroup announced that its Board of Directors has approved a share buyback 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 shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup’s capital return story looks attractive, with recent coverage highlighting strong earnings, excess capital, and ongoing buybacks that could support shareholder returns and earnings per share. What's Fueling Citigroup's Robust Capital Return Strategy?
• Positive Sentiment: A MarketBeat analysis noted Citigroup was in a “buy zone,” suggesting technical traders may see favorable setup after the stock’s strong run and recent consolidation. With Citigroup In A Buy Zone, This Bullish Spread Looks Attractive
• Neutral Sentiment: Citigroup also disclosed routine participation notifications and a director stock sale by John Cunningham Dugan, which can add a little overhang but is not necessarily a major fundamental concern. Participation notifications by Citigroup Inc.
• Neutral Sentiment: Citigroup’s own market outlook remains active in the news, but recent strategist commentary about U.S. stock outperformance and overseas market themes is more relevant to Citi’s research franchise than to near-term earnings. Citi’s Manthey Says US Stock Outperformance Has Further to Run
• Negative Sentiment: Director John Cunningham Dugan sold 2,117 shares at an average price of $125.30, a modest insider sale that may be read as a mild signal of caution by some investors. SEC filing

Institutional Investors Weigh In On Citigroup

Institutional investors have recently added to or reduced their stakes in the company. Donaldson Capital Management LLC bought a new position in Citigroup in the 3rd quarter valued at about $58,994,000. Kovitz Investment Group Partners LLC boosted its stake in Citigroup by 17.3% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 663,416 shares of the company's stock valued at $67,337,000 after purchasing an additional 98,082 shares in the last quarter. Gunderson Capital Management Inc. acquired a new position in shares of Citigroup during the 4th quarter valued at $7,165,000. Brighton Jones LLC increased its position in shares of Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after purchasing an additional 12,499 shares during the period. Finally, Adell Harriman & Carpenter Inc. increased its position in shares of Citigroup by 12.7% during the 3rd quarter. Adell Harriman & Carpenter Inc. now owns 102,255 shares of the company's stock valued at $10,379,000 after purchasing an additional 11,512 shares during the period. Hedge funds and other institutional investors own 71.72% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on C shares. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $139.00 price objective on shares of Citigroup in a research report on Wednesday, April 15th. Wells Fargo & Company lifted their price objective on Citigroup from $160.00 to $162.00 and gave the company an "overweight" rating in a research report on Wednesday, April 29th. Evercore set a $139.00 price objective on Citigroup in a research report on Wednesday, April 15th. Jefferies Financial Group started coverage on Citigroup in a research report on Thursday, March 26th. They issued a "buy" rating and a $135.00 price objective for the company. Finally, Keefe, Bruyette & Woods lifted their price objective on Citigroup from $140.00 to $153.00 and gave the company an "outperform" rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $137.62.

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.

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