Citigroup Inc. $C Shares Purchased by Ameritas Advisory Services LLC

Key Points

• Ameritas Advisory Services LLC boosted its Citigroup stake by 322.3% in the fourth quarter, ending with 15,669 shares valued at about $1.83 million.
• Citigroup reported better-than-expected quarterly results, with EPS of $3.06 and revenue of $24.63 billion, both topping analyst estimates and rising year over year.
• The board approved a $30 billion share repurchase program and the company also declared a quarterly dividend of $0.60 per share, reinforcing its capital-return strategy.

Ameritas Advisory Services LLC lifted its position in Citigroup Inc. (NYSE:C - Free Report) by 322.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,669 shares of the company's stock after purchasing an additional 11,959 shares during the period. Ameritas Advisory Services LLC's holdings in Citigroup were worth $1,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Wolff Wiese Magana LLC raised its position in Citigroup by 87.6% during the third quarter. Wolff Wiese Magana LLC now owns 257 shares of the company's stock worth $26,000 after acquiring an additional 120 shares during the period. Richards Merrill & Peterson Inc. acquired a new position in Citigroup during the fourth quarter worth $28,000. Dunhill Financial LLC raised its position in Citigroup by 92.2% during the third quarter. Dunhill Financial LLC now owns 319 shares of the company's stock worth $32,000 after acquiring an additional 153 shares during the period. Luken Investment Analytics LLC acquired a new position in Citigroup during the fourth quarter worth $32,000. Finally, Guerra Advisors Inc acquired a new position in Citigroup during the third quarter worth $33,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director John Cunningham Dugan sold 2,117 shares of Citigroup stock in a transaction 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 transaction, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Cantu Ernesto Torres sold 43,173 shares of Citigroup stock in a transaction on Friday, February 13th. The shares were sold at an average price of $111.09, for a total transaction of $4,796,088.57. Following the completion of the transaction, the insider owned 45,835 shares in the company, valued at approximately $5,091,810.15. This trade represents a 48.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 94,435 shares of company stock valued at $11,030,074 in the last ninety days. 0.11% of the stock is currently owned by company insiders.

Citigroup Trading Down 1.9%

NYSE C opened at $124.10 on Thursday. The firm's 50-day moving average is $118.98 and its two-hundred day moving average is $113.79. Citigroup Inc. has a 12 month low of $71.65 and a 12 month high of $135.29. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $211.66 billion, a P/E ratio of 15.38, a PEG ratio of 0.57 and a beta of 1.14.

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 the consensus estimate of $2.63 by $0.43. The company had revenue of $24.63 billion for the quarter, compared to analyst estimates of $22.96 billion. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The firm's revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.96 earnings per share. On average, sell-side analysts anticipate that Citigroup Inc. will post 10.65 earnings per share for the current year.

Citigroup announced that its board has approved a share repurchase plan on Thursday, May 7th that allows the company to repurchase $30.00 billion in shares. This repurchase authorization allows the company to buy up to 13.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Citigroup Announces Dividend

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

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup’s recent earnings beat, stronger revenue, and higher profitability are reinforcing the case for the bank’s capital-return story, including its newly announced $30 billion share buyback, which signals management confidence and could help support the stock. What's Fueling Citigroup's Robust Capital Return Strategy?
• Positive Sentiment: Citigroup’s own market commentary and M&A-related media appearance keep the firm visible as a major Wall Street franchise, though this is more of a branding/leadership item than a direct earnings catalyst. AI Good for Media IP: Citigroup's Mohr
• Neutral Sentiment: The company also disclosed routine participation notifications and an insider transaction tied to director John Cunningham Dugan, but the sale was relatively small and does not appear to materially change the long-term outlook. SEC Director Sale Filing
• Negative Sentiment: Director John Cunningham Dugan sold 2,117 shares of Citigroup stock, which can create a slight overhang on sentiment even though the transaction was not large relative to the company’s size. Insider Selling: Citigroup NYSE: C Director Sells 2,117 Shares of Stock

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on C shares. Jefferies Financial Group started coverage on shares of Citigroup in a report on Thursday, March 26th. They set a "buy" rating and a $135.00 target price for the company. JPMorgan Chase & Co. upped their target price on shares of Citigroup from $131.00 to $135.50 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Wells Fargo & Company upped their target price on shares of Citigroup from $160.00 to $162.00 and gave the stock an "overweight" rating in a report on Wednesday, April 29th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $139.00 target price on shares of Citigroup in a report on Wednesday, April 15th. Finally, Barclays upped their target price on shares of Citigroup from $146.00 to $154.00 and gave the stock an "overweight" rating in a report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $137.62.

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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