Corient Private Wealth LLC Has $61.22 Million Stake in Citigroup Inc. $C

Key Points

• Corient Private Wealth LLC boosted its Citigroup stake by 18.7% in the fourth quarter, buying an additional 82,674 shares and bringing its total holding to 524,574 shares worth about $61.2 million.
• Citigroup has seen broadly bullish analyst sentiment, with multiple firms raising price targets and the stock carrying a consensus “Moderate Buy” rating and average target of $137.79.
• The bank reported strong quarterly results, beating estimates with $3.06 EPS on $24.63 billion in revenue, and it recently authorized a $30 billion share buyback while continuing its quarterly dividend.

Corient Private Wealth LLC increased its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 18.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 524,574 shares of the company's stock after purchasing an additional 82,674 shares during the quarter. Corient Private Wealth LLC's holdings in Citigroup were worth $61,215,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in C. Verus Capital Partners LLC boosted its position in Citigroup by 3.1% during the fourth quarter. Verus Capital Partners LLC now owns 2,748 shares of the company's stock valued at $321,000 after purchasing an additional 82 shares during the last quarter. Elmwood Wealth Management Inc. increased its holdings in Citigroup by 1.3% in the fourth quarter. Elmwood Wealth Management Inc. now owns 6,845 shares of the company's stock worth $799,000 after buying an additional 85 shares during the last quarter. Park Place Capital Corp lifted its stake in Citigroup by 16.7% in the fourth quarter. Park Place Capital Corp now owns 595 shares of the company's stock valued at $69,000 after acquiring an additional 85 shares during the last quarter. D.B. Root & Company LLC grew its position in Citigroup by 2.8% in the fourth quarter. D.B. Root & Company LLC now owns 3,191 shares of the company's stock worth $372,000 after acquiring an additional 87 shares in the last quarter. Finally, Cornerstone Wealth Management LLC increased its stake in shares of Citigroup by 0.8% during the 4th quarter. Cornerstone Wealth Management LLC now owns 10,393 shares of the company's stock worth $1,213,000 after purchasing an additional 87 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

C has been the subject of several recent analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Citigroup in a research note on Monday, April 20th. Barclays boosted their target price on Citigroup from $146.00 to $154.00 and gave the stock an "overweight" rating in a report on Wednesday, April 15th. Piper Sandler reaffirmed an "overweight" rating and set a $145.00 target price (up from $125.00) on shares of Citigroup in a research report on Wednesday, April 15th. Keefe, Bruyette & Woods increased their price target on Citigroup from $140.00 to $153.00 and gave the company an "outperform" rating in a report on Friday, May 8th. Finally, Wall Street Zen raised shares of Citigroup from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $137.79.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi’s latest macro view suggests the Federal Reserve may keep rates higher for longer, which could boost net interest income for Citigroup (C) if short-term yields remain elevated. Citi Predicts Fed Rate Cuts Will Come Later Than Expected
• Positive Sentiment: The bank also announced a leadership move in Asia, appointing JianXun Toh to lead corporate banking in Japan, Asia North and Australia, reinforcing its push to grow institutional banking in a key region. Citigroup (C) Appoints JianXun Toh To Lead Corporate Banking In JANA
• Positive Sentiment: Analyst sentiment remains supportive, with Citigroup receiving a consensus “Moderate Buy” rating, which can help reinforce investor confidence in the stock. Citigroup Inc. NYSE: C Receives Consensus Recommendation of "Moderate Buy" from Analysts
• Neutral Sentiment: Citi also highlighted innovation in asset management with a new report on “operational alpha,” underscoring its broader financial-services research franchise, though the direct stock impact is limited. Citi and CREATE-Research Report: Innovation in Asset Management Pivots to ‘Operational Alpha’
• Negative Sentiment: A Reuters/Fox Business report said the Justice Department is probing transactions tied to a network linked to Iran’s supreme leader, including possible connections to Wall Street firms such as Citigroup, creating headline risk for the bank. DOJ probes JPMorgan, Citigroup transactions tied to Iran supreme leader's business network

Insider Activity

In other news, insider Edward Skyler sold 25,000 shares of Citigroup stock in a transaction that occurred on Wednesday, April 15th. The stock was 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 trade represents a 12.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Cunningham Dugan sold 2,117 shares of the company's 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 completion of the transaction, the director owned 12,194 shares of the company's stock, valued at $1,527,908.20. The trade was a 14.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.11% of the company's stock.

Citigroup Price Performance

NYSE C opened at $143.37 on Friday. The stock has a 50-day simple moving average of $129.86 and a 200 day simple moving average of $119.49. Citigroup Inc. has a twelve month low of $77.50 and a twelve month high of $147.96. The stock has a market capitalization of $244.52 billion, a PE ratio of 17.77, a P/E/G ratio of 0.64 and a beta of 1.12. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 EPS 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 company had revenue of $24.63 billion for the quarter, compared to the consensus estimate of $22.96 billion. During the same period in the previous year, the business posted $1.96 EPS. The company's revenue for the quarter was up 14.1% on a year-over-year basis. Research analysts anticipate that Citigroup Inc. will post 10.72 EPS for the current year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. Citigroup's dividend payout ratio (DPR) is 29.74%.

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

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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