Citigroup Inc. $C Shares Purchased by Algebris UK Ltd.

Key Points

• Algebris UK Ltd. increased its Citigroup stake by 13.3% in the fourth quarter, buying 31,036 more shares and bringing its total holdings to 264,738 shares worth about $30.9 million.
• Citigroup reported strong quarterly results, with EPS of $3.06 and revenue of $24.63 billion, both above analyst expectations and up sharply from a year earlier.
• The company announced a $30 billion share buyback and a quarterly dividend of $0.60 per share, signaling confidence in the stock and providing additional returns to shareholders.

Algebris UK Ltd. boosted its holdings in Citigroup Inc. (NYSE:C - Free Report) by 13.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 264,738 shares of the company's stock after purchasing an additional 31,036 shares during the quarter. Citigroup comprises approximately 1.5% of Algebris UK Ltd.'s portfolio, making the stock its 17th biggest position. Algebris UK Ltd.'s holdings in Citigroup were worth $30,907,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in C. Richards Merrill & Peterson Inc. acquired a new position in Citigroup in the fourth quarter valued at approximately $28,000. Dunhill Financial LLC boosted its holdings 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 approximately $32,000. High Note Wealth LLC boosted its holdings in Citigroup by 107.7% in the fourth quarter. High Note Wealth LLC now owns 270 shares of the company's stock valued at $32,000 after purchasing an additional 140 shares in the last quarter. Finally, Guerra Advisors Inc acquired a new stake in shares of Citigroup in the third quarter valued at approximately $33,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Price Performance

C stock opened at $124.80 on Thursday. 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 business has a 50 day simple moving average of $120.40 and a 200-day simple moving average of $114.60. Citigroup Inc. has a twelve month low of $71.65 and a twelve month high of $135.29. The company has a market capitalization of $212.85 billion, a P/E ratio of 15.46, a PEG ratio of 0.54 and a beta of 1.14.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, topping 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 firm had revenue of $24.63 billion during the quarter, compared to the consensus estimate of $22.96 billion. During the same period last year, the company earned $1.96 earnings per share. The company's revenue for the quarter was up 14.1% on a year-over-year basis. As a group, equities analysts anticipate that Citigroup Inc. will post 10.65 EPS for the current year.

Citigroup announced that its Board of Directors has authorized a stock buyback program on Thursday, May 7th that authorizes the company to buyback $30.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 13.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board of directors believes its shares are undervalued.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, May 4th. This represents a $2.40 annualized dividend and a dividend yield of 1.9%. Citigroup's dividend payout ratio (DPR) is currently 29.74%.

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup launched a €15 billion private capital program with BlackRock’s HPS to expand direct lending and capital solutions in Europe, the Middle East and Africa, a move that could support higher fee income and growth in private credit. Citigroup Taps €15b Private Capital To Grow EMEA Fee Income
• Positive Sentiment: Recent card data showed Citigroup’s April delinquencies and charge-offs improved year over year, suggesting healthier consumer credit trends in its credit-card portfolio. Citigroup's Card Delinquencies & Charge-Offs Improve Y/Y in April
• Positive Sentiment: Analysts continue to highlight Citigroup as a dividend-focused value idea, reinforcing the stock’s appeal for income-oriented investors. Why Citigroup (C) is a Top Dividend Stock for Your Portfolio

Insider Buying and Selling at Citigroup

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Barclays increased their price objective on Citigroup from $146.00 to $154.00 and gave the company an "overweight" rating in a report on Wednesday, April 15th. Truist Financial set a $147.00 price objective on Citigroup in a report on Friday, May 1st. Piper Sandler reissued an "overweight" rating and issued a $145.00 price objective (up from $125.00) on shares of Citigroup in a report on Wednesday, April 15th. Wall Street Zen raised Citigroup from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Finally, Oppenheimer reissued an "outperform" rating and issued a $145.00 price objective on shares of Citigroup in a report on Friday, May 8th. One investment 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's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $137.62.

Citigroup 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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