Banco BTG Pactual S.A. Has $3.67 Million Holdings in Citigroup Inc. $C

Key Points

• Banco BTG Pactual S.A. cut its Citigroup stake by 77.4% in the fourth quarter, selling 108,032 shares and ending with 31,472 shares worth about $3.67 million.
• Citigroup recently posted a strong quarter, with EPS of $3.06 versus $2.63 expected and revenue of $24.63 billion, both beating estimates and showing 14.1% year-over-year revenue growth.
• The bank also approved a $30 billion share repurchase program and paid a quarterly dividend of $0.60 per share, while analysts remain broadly positive with a consensus rating of Moderate Buy.

Banco BTG Pactual S.A. lessened its stake in Citigroup Inc. (NYSE:C - Free Report) by 77.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,472 shares of the company's stock after selling 108,032 shares during the quarter. Banco BTG Pactual S.A.'s holdings in Citigroup were worth $3,672,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Richards Merrill & Peterson Inc. acquired a new position in Citigroup in the fourth quarter valued at about $28,000. Dunhill Financial LLC raised its stake in Citigroup by 92.2% in the third quarter. Dunhill Financial LLC now owns 319 shares of the company's stock valued at $32,000 after purchasing an additional 153 shares in the last quarter. Luken Investment Analytics LLC acquired a new position in Citigroup in the fourth quarter valued at about $32,000. High Note Wealth LLC raised its stake in Citigroup by 107.7% during the fourth quarter. High Note Wealth LLC now owns 270 shares of the company's stock worth $32,000 after acquiring an additional 140 shares in the last quarter. Finally, Entrust Financial LLC acquired a new position in Citigroup during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 71.72% of the company's stock.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup is rolling out tokenized depositary receipts for private-company shares, a move that could broaden access to private markets and create a new growth avenue for the bank. Article title
• Positive Sentiment: Reuters reported that Citi hired Ryan Beaupré as a managing director in its consumer and retail investment banking group, signaling continued effort to expand the franchise and deepen client coverage. Article title
• Positive Sentiment: Citigroup’s recent earnings beat and revenue growth continue to support the stock, with Q1 EPS and revenue both topping expectations and underscoring improving operating momentum. Article title
• Neutral Sentiment: President Trump publicly praised Citigroup and CEO Jane Fraser for M&A advisory work, which helped sentiment, but some reports noted the ranking was overstated, limiting the fundamental impact. Article title
• Neutral Sentiment: Market commentary also pointed to Citigroup’s turnaround progress, solid trading conditions, and a constructive investment banking outlook, which supports the stock but is largely a continuation of existing optimism. Article title

Insider Activity at Citigroup

In other news, insider Edward Skyler sold 25,000 shares of the company's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $131.41, for a total value of $3,285,250.00. Following the completion of the transaction, the insider owned 182,022 shares of the company's stock, valued at $23,919,511.02. This represents a 12.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John Cunningham Dugan sold 2,117 shares of the company's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $125.30, for a total value of $265,260.10. Following the completion of 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 SEC filing for this sale provides additional information. Corporate insiders own 0.11% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on C. Piper Sandler reissued an "overweight" rating and set a $145.00 target price (up from $125.00) on shares of Citigroup in a research note on Wednesday, April 15th. Royal Bank Of Canada reissued an "outperform" rating and set a $139.00 target price on shares of Citigroup in a research note on Wednesday, April 15th. JPMorgan Chase & Co. boosted their target price on Citigroup from $131.00 to $135.50 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Oppenheimer reissued an "outperform" rating and set a $145.00 target price on shares of Citigroup in a research note on Friday, May 8th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Citigroup in a research note on Monday, April 20th. One 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $137.62.

Citigroup Stock Performance

NYSE:C opened at $137.89 on Friday. The stock's 50-day moving average is $126.85 and its 200-day moving average is $117.91. Citigroup Inc. has a 1-year low of $76.11 and a 1-year high of $138.23. 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 $235.18 billion, a P/E ratio of 17.09, a price-to-earnings-growth ratio of 0.60 and a beta of 1.12.

Citigroup (NYSE:C - Get Free Report) last released 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 return on equity of 9.19% and a net margin of 9.35%.The company had revenue of $24.63 billion during the quarter, compared to the consensus estimate of $22.96 billion. During the same quarter in the prior year, the firm posted $1.96 earnings per share. The firm's revenue was up 14.1% compared to the same quarter last year. Equities research analysts anticipate that Citigroup Inc. will post 10.68 earnings per share for the current year.

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

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were paid a $0.60 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. Citigroup's dividend payout ratio is currently 29.74%.

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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