AlphaQuest LLC Boosts Holdings in Citigroup Inc. $C

Key Points

• AlphaQuest LLC more than doubled its Citigroup position in the fourth quarter, increasing its stake by 136.3% to 36,716 shares valued at about $4.28 million.
• Several other institutional investors also added to Citigroup, and hedge funds plus other institutions now own 71.72% of the stock, showing continued interest from large investors.
• Citigroup reported strong quarterly results with EPS of $3.06 versus $2.63 expected and revenue of $24.63 billion versus $22.96 billion expected, while also authorizing a $30 billion share buyback and paying a quarterly dividend of $0.60 per share.

AlphaQuest LLC increased its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 136.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 36,716 shares of the company's stock after buying an additional 21,180 shares during the period. AlphaQuest LLC's holdings in Citigroup were worth $4,284,000 as of its most recent SEC filing.

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

Insider Activity at Citigroup

In other Citigroup news, insider Edward Skyler sold 25,000 shares of Citigroup stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 182,022 shares in the company, valued at $23,919,511.02. The trade was a 12.08% decrease in their ownership of the stock. 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 Citigroup 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 sale, the director owned 12,194 shares of the company's stock, valued at approximately $1,527,908.20. The trade was a 14.79% 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.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Zacks Research downgraded shares of Citigroup from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 20th. Barclays lifted their target price 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. Truist Financial set a $147.00 target price on shares of Citigroup in a research note on Friday, May 1st. Wall Street Zen raised shares of Citigroup from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Finally, Piper Sandler reaffirmed 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. One research 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 stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $137.62.

Citigroup Price Performance

Shares of NYSE:C opened at $125.10 on Tuesday. The company has a 50 day moving average of $121.42 and a 200 day moving average of $115.10. The stock has a market cap of $213.36 billion, a P/E ratio of 15.50, a P/E/G 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. 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 (NYSE:C - Get Free Report) last issued 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 company 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%. Citigroup's revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.96 earnings per share. As a group, sell-side analysts forecast that Citigroup Inc. will post 10.65 EPS for the current fiscal year.

Citigroup announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 7th that authorizes the company to buyback $30.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 13.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its stock is undervalued.

Citigroup Announces Dividend

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

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup plans to expand its Asia wealth business with a major hiring push, adding nearly 100 private bankers and 400 specialists to strengthen profitability. Citigroup to Accelerate Asia Wealth Expansion With Major Hiring Push
• Positive Sentiment: Citigroup was included among major U.S. banks that cleared key Fed and FDIC review of their 2025 living wills, easing regulatory concerns and supporting investor confidence in the sector. JPM, WFC & Others Clear Key Regulatory Hurdle on Living Wills
• Neutral Sentiment: Citi also continued to make analyst-related headlines elsewhere in the market, including a new Buy initiation on Alnylam Pharmaceuticals, but that does not directly affect Citigroup’s fundamentals. Citi Initiates Alnylam (ALNY) With Buy Rating

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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