Atalanta Sosnoff Capital LLC Purchases Shares of 20,100 Citigroup Inc. $C

Atalanta Sosnoff Capital LLC acquired a new stake in shares of Citigroup Inc. (NYSE:C - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 20,100 shares of the company's stock, valued at approximately $2,345,000.

A number of other large investors have also added to or reduced their stakes in the company. Richards Merrill & Peterson Inc. purchased a new position in Citigroup during the 4th quarter valued at about $28,000. Luken Investment Analytics LLC bought a new stake in Citigroup during the fourth quarter valued at approximately $32,000. High Note Wealth LLC grew its position in Citigroup by 107.7% during the fourth quarter. High Note Wealth LLC now owns 270 shares of the company's stock valued at $32,000 after buying an additional 140 shares during the period. Entrust Financial LLC bought a new stake in Citigroup during the fourth quarter valued at approximately $34,000. Finally, Litman Gregory Wealth Management LLC bought a new position in shares of Citigroup in the fourth quarter worth approximately $34,000. Institutional investors own 71.72% of the company's stock.

Citigroup Trading Up 1.2%

Shares of C stock opened at $139.68 on Friday. The company's 50-day moving average price is $127.34 and its 200-day moving average price is $118.06. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. The stock has a market cap of $238.23 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 0.62 and a beta of 1.12. Citigroup Inc. has a twelve month low of $76.11 and a twelve month high of $141.12.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $22.96 billion. During the same period in the previous year, the firm earned $1.96 EPS. Citigroup's revenue was up 14.1% on a year-over-year basis. As a group, equities analysts predict that Citigroup Inc. will post 10.68 earnings per share for the current year.

Citigroup announced that its board has initiated a stock repurchase program on Thursday, May 7th that allows the company to buyback $30.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 13.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its shares are undervalued.

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 given a $0.60 dividend. The ex-dividend date was Monday, May 4th. This represents a $2.40 annualized dividend and a yield of 1.7%. Citigroup's dividend payout ratio is presently 29.74%.

Insider Buying and Selling at Citigroup

In related news, insider Edward Skyler sold 25,000 shares of the firm's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $131.41, for a total transaction of $3,285,250.00. Following the sale, the insider directly owned 182,022 shares in the company, valued at approximately $23,919,511.02. This trade represents a 12.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John Cunningham Dugan sold 2,117 shares of the firm'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 owned 12,194 shares in the company, valued at approximately $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. Corporate insiders own 0.11% of the company's stock.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup launched tokenized Digital Depositary Receipts, creating a new blockchain-based way for clients to gain exposure to private companies and for issuers to tap liquidity, reinforcing Citi’s push into next-generation capital markets. Citigroup Is Rolling Out Tokenized Shares of Private Companies
• Positive Sentiment: Related coverage said Citi is expanding access to private markets with tokenized private-share trading, which could open a new fee-generating business line and strengthen its innovation story with large clients. Citigroup Expands Access to Private Markets With Tokenized Depositary Receipts
• Positive Sentiment: Trump praised Citigroup and CEO Jane Fraser as a top M&A adviser, which helped fuel momentum and reinforced confidence in Citi’s investment banking comeback. Citigroup shares outperform down market after Trump endorsement
• Positive Sentiment: Citi also continued building out its consumer and retail investment banking franchise with a new managing director hire, suggesting management is still investing in growth areas. Citi hires Ryan Beaupré as MD in consumer and retail investment banking push
• Neutral Sentiment: Citi completed the sale of its Polish consumer banking business, continuing its multi-year retreat from underperforming overseas markets. This supports simplification, but it also shows ongoing shrinkage in some international operations. Citi's overseas retreat advances with sale of Polish business
• Neutral Sentiment: Reports that regulators are probing banks’ use of AI could raise compliance scrutiny for the sector, but there was no Citi-specific issue mentioned. Bank Regulators Probe Industry Use of AI

Analyst Ratings Changes

C has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Citigroup in a research note on Monday, April 20th. Keefe, Bruyette & Woods increased their target price on shares of Citigroup from $140.00 to $153.00 and gave the stock an "outperform" rating in a report on Friday, May 8th. Morgan Stanley increased their target price on shares of Citigroup from $140.00 to $144.00 and gave the stock an "overweight" rating in a report on Wednesday, April 15th. Piper Sandler reiterated an "overweight" rating and set a $145.00 target price (up from $125.00) on shares of Citigroup in a report on Wednesday, April 15th. Finally, JPMorgan Chase & Co. increased their target price on shares of Citigroup from $131.00 to $135.50 and gave the stock an "overweight" rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $137.62.

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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