Cibc World Market Inc. Sells 24,980 Shares of Citigroup Inc. $C

Key Points

• Cibc World Market Inc. reduced its Citigroup stake by 4.1% in the fourth quarter, selling 24,980 shares and leaving it with 589,150 shares worth about $68.7 million.
• Citigroup is drawing attention for its digital-assets and tokenization strategy, with commentary highlighting a potential $5.5 trillion tokenized securities market by 2030 and broader industry moves into stablecoins and related banking services.
• The bank has also seen buyback and earnings strength, including a new $30 billion share repurchase program and quarterly results that beat expectations with $3.06 EPS on $24.63 billion in revenue.

Cibc World Market Inc. cut its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 4.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 589,150 shares of the company's stock after selling 24,980 shares during the period. Cibc World Market Inc.'s holdings in Citigroup were worth $68,748,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Richards Merrill & Peterson Inc. bought a new stake in Citigroup in the 4th quarter worth about $28,000. Luken Investment Analytics LLC bought a new stake in Citigroup in the 4th quarter worth about $32,000. High Note Wealth LLC grew its position in Citigroup by 107.7% in the 4th quarter. High Note Wealth LLC now owns 270 shares of the company's stock worth $32,000 after purchasing an additional 140 shares in the last quarter. Entrust Financial LLC bought a new stake in Citigroup in the 4th quarter worth about $34,000. Finally, Maseco LLP bought a new stake in Citigroup in the 4th quarter worth about $35,000. 71.72% of the stock is owned by institutional investors.

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup is drawing investor attention after outlining a major tokenization opportunity, projecting the tokenized securities market could reach $5.5 trillion by 2030, which strengthens the bank’s long-term growth narrative around digital assets and capital markets modernization. Citigroup’s Tokenization Push And Valuation Gap Draw Investor Attention
• Positive Sentiment: Reuters reported that Revolut plans to offer stablecoins, FDIC-insured accounts, stock trading and crypto services through its future U.S. bank, underscoring how mainstream financial firms are moving toward banking products that sit in Citi’s competitive lane and helping validate Citi’s own digital-asset focus. Revolut US bank plans stablecoins alongside FDIC-insured accounts: Report
• Neutral Sentiment: Separately, Citigroup was cited in a note saying U.S. tech stocks may be vulnerable because of crowded positioning. That’s more of a broader market signal than a direct Citi-specific driver, but it could add to investor caution if risk assets cool off. Citi’s Chew Sees US Tech Stocks at Risk From Bullish Positioning

Analyst Ratings Changes

C has been the topic of a number of research analyst reports. Truist Financial set a $147.00 target price on shares of Citigroup in a research note on Friday, May 1st. The Goldman Sachs Group boosted their target price on shares of Citigroup from $137.00 to $151.00 and gave the company a "buy" rating in a research note on Wednesday, April 15th. Oppenheimer reiterated an "outperform" rating and issued a $145.00 target price on shares of Citigroup in a research note on Friday, May 8th. JPMorgan Chase & Co. boosted their target price on shares of Citigroup from $131.00 to $135.50 and gave the company an "overweight" rating in a research note on Thursday, April 30th. Finally, Wells Fargo & Company boosted their target price on shares of Citigroup from $160.00 to $162.00 and gave the company an "overweight" rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, Citigroup presently has an average rating of "Moderate Buy" and a consensus target price of $137.62.

Insider Buying and Selling

In related news, insider Edward Skyler sold 25,000 shares of the company's stock in a transaction that occurred on 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 sale, the insider owned 182,022 shares of the company's stock, valued at approximately $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 accessible 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 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 in the company, valued at $1,527,908.20. This trade represents a 14.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.11% of the company's stock.

Citigroup Stock Performance

Shares of C stock opened at $130.09 on Thursday. The stock has a market capitalization of $221.87 billion, a P/E ratio of 16.12, a PEG ratio of 0.59 and a beta of 1.12. 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 firm's 50 day moving average is $124.08 and its 200 day moving average is $116.40. Citigroup Inc. has a 12 month low of $75.66 and a 12 month high of $135.29.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, beating analysts' consensus estimates of $2.63 by $0.43. The company had revenue of $24.63 billion for the quarter, compared to analysts' expectations of $22.96 billion. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. Citigroup's revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.96 EPS. On average, sell-side analysts anticipate that Citigroup Inc. will post 10.68 earnings per share for the current year.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Monday, May 4th. Citigroup's dividend payout ratio is 29.74%.

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

Citigroup Company Profile

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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