Citigroup Inc. $C Stock Position Lessened by Steel Grove Capital Advisors LLC

Key Points

• Steel Grove Capital Advisors cut its Citigroup position by 88.6% in the fourth quarter, selling 23,156 shares and leaving it with 2,986 shares worth about $348,000.
• Institutional interest remains broad, with several other funds increasing holdings and institutional investors collectively owning 71.72% of Citigroup’s stock.
• Citigroup reported strong fundamentals, including quarterly EPS of $3.06 versus $2.63 expected and revenue of $24.63 billion, while also authorizing a $30 billion stock buyback and paying a $0.60 quarterly dividend.

Steel Grove Capital Advisors LLC decreased its position in Citigroup Inc. (NYSE:C - Free Report) by 88.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,986 shares of the company's stock after selling 23,156 shares during the quarter. Steel Grove Capital Advisors LLC's holdings in Citigroup were worth $348,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of C. Brighton Jones LLC lifted its holdings in shares of Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after buying an additional 12,499 shares during the period. Sivia Capital Partners LLC lifted its holdings in shares of Citigroup by 20.5% in the second quarter. Sivia Capital Partners LLC now owns 9,805 shares of the company's stock valued at $835,000 after buying an additional 1,669 shares during the period. United Bank acquired a new stake in shares of Citigroup in the second quarter valued at $972,000. Osterweis Capital Management Inc. lifted its holdings in shares of Citigroup by 3,016.7% in the second quarter. Osterweis Capital Management Inc. now owns 935 shares of the company's stock valued at $80,000 after buying an additional 905 shares during the period. Finally, HUB Investment Partners LLC lifted its holdings in shares of Citigroup by 26.9% in the second quarter. HUB Investment Partners LLC now owns 15,287 shares of the company's stock valued at $1,301,000 after buying an additional 3,238 shares during the period. Institutional investors and hedge funds own 71.72% of the company's stock.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Recent coverage highlights Citigroup’s ongoing turnaround under CEO Jane Fraser, with the bank posting decade-high revenue, cutting costs through layoffs and market exits, and restoring investor confidence. Citi’s 5-year comeback: How CEO Jane Fraser turned the bank’s chronic underperformance into decade-high revenue
• Positive Sentiment: Another report says Citigroup’s recent funding activity, living-will approval, and expansion in Asian wealth and private credit suggest a healthier business mix and cleaner regulatory profile. How New Funding, Living Will Approval, and Asian Wealth Push At Citigroup (C) Has Changed Its Investment Story
• Neutral Sentiment: Wall Street commentary also remained constructive, with brokers continuing to view Citigroup as a stock worth owning, though the article was more about analyst-process than a new rating change. Brokers Suggest Investing in Citigroup (C): Read This Before Placing a Bet
• Neutral Sentiment: Citigroup’s stock also moved in line with a broader macro backdrop, as Fed commentary kept rate expectations in focus; that tends to affect bank stocks because it influences net interest income outlooks. Fed's Cook says she is prepared to raise rates if inflation doesn't ease

Wall Street Analyst Weigh In

C has been the subject of several research analyst reports. Truist Financial set a $147.00 price objective on Citigroup in a report on Friday, May 1st. Royal Bank Of Canada restated an "outperform" rating and issued a $139.00 price objective on shares of Citigroup in a report on Wednesday, April 15th. Evercore set a $139.00 target price on Citigroup in a report on Wednesday, April 15th. The Goldman Sachs Group upped their target price on Citigroup from $137.00 to $151.00 and gave the company a "buy" rating in a report on Wednesday, April 15th. Finally, Jefferies Financial Group began coverage on Citigroup in a report on Thursday, March 26th. They set a "buy" rating and a $135.00 target price for the company. One equities research 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 company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $137.62.

Citigroup Trading Down 1.2%

Shares of NYSE C opened at $125.31 on Thursday. Citigroup Inc. has a 12 month low of $74.30 and a 12 month high of $135.29. The company has a market cap of $213.72 billion, a price-to-earnings ratio of 15.53, a P/E/G ratio of 0.57 and a beta of 1.14. 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 fifty day simple moving average of $122.21 and a 200-day simple moving average of $115.45.

Citigroup (NYSE:C - Get Free Report) last announced its 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. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The business 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 business posted $1.96 earnings per share. Citigroup's revenue was up 14.1% compared to the same quarter last year. Sell-side analysts predict that Citigroup Inc. will post 10.68 EPS for the current year.

Citigroup Announces Dividend

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

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

Insider Activity

In related news, Director John Cunningham Dugan sold 2,117 shares of the stock in a transaction dated Friday, May 8th. The stock was 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 approximately $1,527,908.20. This represents a 14.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Edward Skyler sold 25,000 shares of the stock in a transaction dated 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 approximately $23,919,511.02. This represents a 12.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.11% of the stock is currently owned by corporate insiders.

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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