BW Gestao de Investimentos Ltda. Invests $9.14 Million in Citigroup Inc. $C

Key Points

• BW Gestao de Investimentos Ltda. opened a new position in Citigroup during the fourth quarter, buying 78,337 shares worth about $9.14 million.
• Citigroup reported stronger-than-expected quarterly results, with EPS of $3.06 versus the $2.63 estimate and revenue of $24.63 billion, up 14.1% year over year.
• The bank also highlighted shareholder returns, having paid a $0.60 quarterly dividend and authorized a $30 billion share buyback program, while analysts currently rate the stock a consensus Moderate Buy.

BW Gestao de Investimentos Ltda. bought a new position in shares of Citigroup Inc. (NYSE:C - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 78,337 shares of the company's stock, valued at approximately $9,141,000.

A number of other large investors have also modified their holdings of C. Brighton Jones LLC boosted its stake in Citigroup by 166.9% during the fourth 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 period. Sivia Capital Partners LLC raised its holdings in Citigroup by 20.5% in the second quarter. Sivia Capital Partners LLC now owns 9,805 shares of the company's stock valued at $835,000 after acquiring an additional 1,669 shares in the last quarter. United Bank acquired a new stake in Citigroup in the second quarter valued at approximately $972,000. Osterweis Capital Management Inc. raised its holdings in Citigroup by 3,016.7% in the second quarter. Osterweis Capital Management Inc. now owns 935 shares of the company's stock valued at $80,000 after acquiring an additional 905 shares in the last quarter. Finally, HUB Investment Partners LLC raised its holdings in Citigroup by 26.9% during the second quarter. HUB Investment Partners LLC now owns 15,287 shares of the company's stock worth $1,301,000 after purchasing an additional 3,238 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on C. Truist Financial set a $147.00 price objective on shares of Citigroup in a report on Friday, May 1st. Zacks Research cut shares of Citigroup from a "strong-buy" rating to a "hold" rating in a report on Friday, February 20th. Weiss Ratings reissued a "buy (b)" rating on shares of Citigroup in a research note on Monday, April 20th. Royal Bank Of Canada reissued an "outperform" rating and issued a $139.00 price objective on shares of Citigroup in a research note on Wednesday, April 15th. Finally, Morgan Stanley boosted their price objective on shares of Citigroup from $140.00 to $144.00 and gave the company an "overweight" rating in a research note on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock 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 $128.86 on Tuesday. Citigroup Inc. has a one year low of $74.30 and a one year high of $135.29. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99. The company's fifty day moving average is $123.27 and its two-hundred day moving average is $115.99. The firm has a market capitalization of $219.78 billion, a P/E ratio of 15.97, a PEG ratio of 0.56 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 EPS for the quarter, topping 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 business 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. The business's revenue for the quarter was up 14.1% compared to the same quarter last year. Analysts forecast that Citigroup Inc. will post 10.68 EPS for the current fiscal year.

Citigroup Announces Dividend

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

Citigroup declared that its board has authorized a share buyback program on Thursday, May 7th that authorizes the company to repurchase $30.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 13.7% of its stock through open market purchases. Stock repurchase programs are generally 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 could win a role in OpenAI’s IPO preparations, a marquee mandate that would support future fee income and showcase the bank’s investment banking reach. OpenAI reportedly in talks to add Citigroup and JPMorgan to its IPO underwriting team
• Positive Sentiment: Market commentary says Citigroup has outperformed the Dow over the past year, while analysts remain cautiously optimistic, reinforcing a constructive near-term view on the stock. Is Citigroup Stock Outperforming the Dow?
• Positive Sentiment: Citi turned more bullish on copper, raising its price outlook sharply; that call may be viewed as supportive for Citi’s broader markets and commodities franchise, and for sentiment around the bank’s research influence. Citi turns bullish on copper, sees price hitting $15,000 per ton within a year
• Neutral Sentiment: Citigroup forecast that the tokenized securities market could reach $5.5 trillion underscores its interest in digital assets and market infrastructure, but the near-term stock impact is unclear. Citigroup Forecasts Tokenized Securities Market Will Hit $5.5 Trillion
• Neutral Sentiment: News that Citi is working with Fannie Mae on a reperforming-loan sale is a routine capital markets-related item and does not appear to materially change the earnings outlook on its own. Is Fannie Mae’s Latest Reperforming Loan Sale With Citigroup Quietly Reshaping FNMA’s Risk Profile?

Insider Transactions at Citigroup

In other news, insider Edward Skyler sold 25,000 shares of the company's stock in a transaction dated 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Cunningham Dugan sold 2,117 shares of the stock in a transaction that occurred 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 sale, the director directly owned 12,194 shares of the company's stock, valued at approximately $1,527,908.20. This trade represents a 14.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.11% of the stock is currently owned by corporate insiders.

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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