Citigroup Inc. $C Stock Holdings Reduced by KLCM Advisors Inc.

Key Points

• KLCM Advisors Inc. cut its Citigroup stake by 4.0% in the fourth quarter, selling 10,703 shares and ending with 257,877 shares worth about $30.1 million. Citigroup remains its fifth-largest holding.
• Citigroup insiders have been selling shares, including Ernesto Torres Cantu and Edward Skyler, with about 92,318 shares sold over the last three months. Insider ownership is now very small at 0.11% of shares outstanding.
• Analysts remain mostly positive on Citigroup, with a consensus “Moderate Buy” rating and an average target price of $137.62. The company also reported strong quarterly results, beat EPS and revenue estimates, and recently authorized a $30 billion share buyback plus a $0.60 quarterly dividend.

KLCM Advisors Inc. decreased its position in Citigroup Inc. (NYSE:C - Free Report) by 4.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 257,877 shares of the company's stock after selling 10,703 shares during the quarter. Citigroup comprises 2.6% of KLCM Advisors Inc.'s investment portfolio, making the stock its 5th largest holding. KLCM Advisors Inc.'s holdings in Citigroup were worth $30,092,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Richards Merrill & Peterson Inc. acquired a new position in shares of Citigroup during the 4th quarter worth $28,000. Wolff Wiese Magana LLC lifted its stake in shares of Citigroup by 87.6% in the 3rd quarter. Wolff Wiese Magana LLC now owns 257 shares of the company's stock valued at $26,000 after purchasing an additional 120 shares during the last quarter. Luken Investment Analytics LLC bought a new stake in Citigroup in the fourth quarter worth $32,000. Maseco LLP bought a new stake in Citigroup in the fourth quarter worth $35,000. Finally, MH & Associates Securities Management Corp ADV acquired a new position in Citigroup during the fourth quarter worth $35,000. Institutional investors and hedge funds own 71.72% of the company's stock.

Insider Buying and Selling

In other news, insider Cantu Ernesto Torres sold 43,173 shares of the stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $111.09, for a total value of $4,796,088.57. Following the completion of the transaction, the insider directly owned 45,835 shares of the company's stock, valued at approximately $5,091,810.15. This represents a 48.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction, the insider 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 SEC filing for this sale provides additional information. Over the last three months, insiders sold 92,318 shares of company stock valued at $10,764,814. 0.11% of the stock is currently owned by insiders.

Analysts Set New Price Targets

C has been the subject of a number of analyst reports. Zacks Research cut Citigroup from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 20th. JPMorgan Chase & Co. raised their price objective on Citigroup from $131.00 to $135.50 and gave the company an "overweight" rating in a research note on Thursday, April 30th. The Goldman Sachs Group boosted their target price on Citigroup from $137.00 to $151.00 and gave the stock a "buy" rating in a report on Wednesday, April 15th. Morgan Stanley upped their target price on Citigroup from $140.00 to $144.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 15th. Finally, Barclays increased their price target on Citigroup from $146.00 to $154.00 and gave the company an "overweight" rating in a report on Wednesday, April 15th. One equities research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $137.62.

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup strategists said U.S. stock market outperformance, led by a narrow group of large-cap tech names, still has room to run. That view can be favorable for Citigroup’s trading and investment-banking activity if equity markets remain resilient. Citi’s Manthey Says US Stock Outperformance Has Further to Run
• Positive Sentiment: Citigroup was highlighted by Investors.com as being in a “buy zone,” with a bullish options spread described as attractive. That kind of commentary can support sentiment around the stock. With Citigroup In A Buy Zone, This Bullish Spread Looks Attractive
• Neutral Sentiment: Goldman Sachs and Bank of America pushed back expectations for Federal Reserve rate cuts after stronger jobs and inflation data. A more “higher-for-longer” rate environment is mixed for Citigroup, as it can support net interest income but also keep pressure on credit conditions and borrowing demand. Goldman, BofA Delay Fed Cut Calls After ‘Last Straw’ Jobs Data
• Neutral Sentiment: Citigroup’s recent earnings backdrop remains constructive, with the bank having beaten quarterly EPS and revenue estimates previously. That supports the stock’s broader uptrend, though it is not fresh news.

Citigroup Trading Up 0.2%

Shares of Citigroup stock opened at $125.85 on Tuesday. Citigroup Inc. has a 1 year low of $71.65 and a 1 year high of $135.29. The company's fifty day simple moving average is $118.40 and its 200-day simple moving average is $113.39. The company has a market cap of $215.81 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 0.56 and a beta of 1.14. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59.

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, beating analysts' consensus estimates of $2.63 by $0.43. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The firm had revenue of $24.63 billion during the quarter, compared to the consensus estimate of $22.96 billion. During the same period in the prior year, the firm earned $1.96 EPS. The business's revenue was up 14.1% on a year-over-year basis. As a group, sell-side analysts expect that Citigroup Inc. will post 10.65 EPS for the current year.

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

Citigroup Dividend Announcement

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

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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