Castleark Management LLC Buys 39,520 Shares of Citigroup Inc. $C

Key Points

• Castleark Management LLC increased its Citigroup stake by 50.7% in the fourth quarter, buying 39,520 additional shares and bringing its total holdings to 117,464 shares worth about $13.7 million.
• Other institutional investors also boosted exposure to Citigroup, including major players like Vanguard and Norges Bank, while hedge funds and institutions now own 71.72% of the stock.
• Citigroup reported strong quarterly results, with EPS of $3.06 topping estimates and revenue of $24.63 billion exceeding expectations, and it also authorized a $30 billion share buyback and continued paying a quarterly dividend.

Castleark Management LLC grew its stake in Citigroup Inc. (NYSE:C - Free Report) by 50.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 117,464 shares of the company's stock after acquiring an additional 39,520 shares during the quarter. Castleark Management LLC's holdings in Citigroup were worth $13,707,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of C. Norges Bank purchased a new position in shares of Citigroup in the fourth quarter worth $2,800,944,000. Vanguard Group Inc. raised its stake in shares of Citigroup by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company's stock worth $19,048,467,000 after purchasing an additional 4,938,923 shares during the last quarter. Capital World Investors raised its stake in shares of Citigroup by 6.5% in the third quarter. Capital World Investors now owns 47,262,626 shares of the company's stock worth $4,797,292,000 after purchasing an additional 2,871,074 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in shares of Citigroup in the fourth quarter worth $298,082,000. Finally, SG Americas Securities LLC raised its stake in shares of Citigroup by 291.4% in the fourth quarter. SG Americas Securities LLC now owns 1,319,549 shares of the company's stock worth $153,978,000 after purchasing an additional 2,008,946 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Insider Activity at Citigroup

In other news, insider Edward Skyler sold 25,000 shares of the firm'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 sale, the insider directly owned 182,022 shares of the company's stock, valued at $23,919,511.02. This trade represents a 12.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Cunningham Dugan sold 2,117 shares of the firm'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 sale, the director directly owned 12,194 shares of the company's stock, valued at $1,527,908.20. The trade was a 14.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.11% of the stock is owned by company insiders.

Citigroup Stock Performance

NYSE C opened at $139.68 on Friday. The firm has a market cap of $238.23 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 0.62 and a beta of 1.12. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.59. The business has a 50-day moving average price of $127.34 and a 200-day moving average price of $118.06. 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 released its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, topping analysts' consensus estimates of $2.63 by $0.43. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The firm had revenue of $24.63 billion during the quarter, compared to analyst estimates of $22.96 billion. During the same quarter in the prior year, the company posted $1.96 earnings per share. The business's quarterly revenue was up 14.1% compared to the same quarter last year. As a group, equities research analysts predict that Citigroup Inc. will post 10.68 EPS for the current fiscal year.

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

Citigroup Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently commented on C. Jefferies Financial Group began coverage on Citigroup in a research report on Thursday, March 26th. They set a "buy" rating and a $135.00 price objective for the company. Piper Sandler reiterated an "overweight" rating and set a $145.00 price objective (up from $125.00) on shares of Citigroup in a research report on Wednesday, April 15th. Evercore set a $139.00 price objective on Citigroup in a research report on Wednesday, April 15th. Weiss Ratings reiterated a "buy (b)" rating on shares of Citigroup in a research report on Monday, April 20th. Finally, Oppenheimer reiterated an "outperform" rating and set a $145.00 price objective on shares of Citigroup in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $137.62.

Citigroup News Summary

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

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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