AMJ Financial Wealth Management Purchases New Position in Citigroup Inc. $C

Key Points

• AMJ Financial Wealth Management opened a new position in Citigroup during the fourth quarter, buying 35,133 shares valued at about $4.1 million.
• Citigroup continues to attract institutional interest, with several hedge funds adding or increasing stakes, and institutions now own 71.72% of the stock.
• The bank reported strong quarterly results, beating earnings and revenue estimates, and also announced a $30 billion share buyback along with a quarterly dividend of $0.60 per share.

AMJ Financial Wealth Management bought a new position in shares of Citigroup Inc. (NYSE:C - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 35,133 shares of the company's stock, valued at approximately $4,100,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Donaldson Capital Management LLC purchased a new stake in shares of Citigroup in the 3rd quarter worth approximately $58,994,000. Gunderson Capital Management Inc. purchased a new stake in shares of Citigroup in the 4th quarter worth approximately $7,165,000. Kovitz Investment Group Partners LLC grew its stake in shares of Citigroup by 17.3% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 663,416 shares of the company's stock worth $67,337,000 after buying an additional 98,082 shares during the last quarter. Brighton Jones LLC grew its stake in shares of Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock worth $1,407,000 after buying an additional 12,499 shares during the last quarter. Finally, Adell Harriman & Carpenter Inc. grew its stake in shares of Citigroup by 12.7% in the 3rd quarter. Adell Harriman & Carpenter Inc. now owns 102,255 shares of the company's stock worth $10,379,000 after buying an additional 11,512 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Insider Buying and Selling at Citigroup

In other news, Director John Cunningham Dugan sold 2,117 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $125.30, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Edward Skyler sold 25,000 shares of the stock in a transaction 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 transaction, 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 SEC filing for this sale provides additional information. 0.11% of the stock is owned by corporate insiders.

Citigroup Price Performance

NYSE C opened at $123.39 on Friday. The business's fifty day moving average price is $119.50 and its 200-day moving average price is $114.04. The stock has a market capitalization of $210.46 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 0.56 and a beta of 1.14. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.99 and a quick ratio of 0.99. Citigroup Inc. has a 1-year low of $71.65 and a 1-year 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, beating the consensus estimate of $2.63 by $0.43. The firm had revenue of $24.63 billion for the quarter, compared to analysts' expectations of $22.96 billion. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The company's revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.96 EPS. On average, equities analysts predict that Citigroup Inc. will post 10.65 earnings per share for the current year.

Citigroup announced that its Board of Directors has initiated a share buyback program 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 stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its stock is undervalued.

Citigroup Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Zacks Research downgraded Citigroup from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 20th. Barclays upped their price target on Citigroup from $146.00 to $154.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 15th. Wells Fargo & Company upped their price target on Citigroup from $160.00 to $162.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 29th. Piper Sandler reaffirmed an "overweight" rating and issued a $145.00 price objective (up from $125.00) on shares of Citigroup in a research report on Wednesday, April 15th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $145.00 price objective on shares of Citigroup in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $137.62.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup plans to increase headcount in its Asia-Pacific prime brokerage business by about 10%, signaling confidence in rising hedge fund activity and an opportunity to capture more trading and financing revenue. Article: C to Expand Asia Prime Brokerage Team by 10%, Eyes Hedge Fund Growth
• Positive Sentiment: Separate reports suggest Citigroup is continuing to push its Asia expansion strategy, including potential licensing progress in China and a broader push to strengthen its regional investment-banking and markets presence. Article: Citigroup to Get License for Wholly Owned China Securities Firm as CEO Joins Trump Visit
• Positive Sentiment: Citigroup has also been highlighted in analysis for adopting AI in ways that may generate returns, reinforcing the view that the bank’s technology investments could help support efficiency and profitability. Article: Citigroup: Not Only Adopting AI But Also Generating Returns
• Neutral Sentiment: Bloomberg reported that Citi said African borrowers are becoming more creative in debt sales, which is informative on market conditions but does not clearly change the near-term earnings picture. Article: Citi Says African Borrowers Are Turning Creative on Debt Sales
• Negative Sentiment: Some investors remain focused on whether Citigroup can sustain its post-earnings momentum, with recent commentary noting the stock has already pulled back from the strong rally seen after its latest quarterly results. Article: After a 63.3% Surge in a Year, Is C Stock Worth Holding on to Now?

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.

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