Diversified Trust Co Sells 31,826 Shares of Citigroup Inc. $C

Key Points

• Diversified Trust Co cut its Citigroup stake by 42.3% in the first quarter, selling 31,826 shares and leaving it with 43,476 shares worth about $4.93 million.
• Citigroup has drawn mixed but generally supportive sentiment: analysts currently rate it a Moderate Buy, while recent targets from firms like Barclays and Oppenheimer have been raised as high as $154 per share.
• The bank reported strong quarterly results, beating estimates on EPS and revenue, and its board also approved a $30 billion share repurchase program alongside a recent $0.60 quarterly dividend.

Diversified Trust Co lessened its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 42.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,476 shares of the company's stock after selling 31,826 shares during the period. Diversified Trust Co's holdings in Citigroup were worth $4,931,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Verus Capital Partners LLC grew its stake in Citigroup by 3.1% during the fourth quarter. Verus Capital Partners LLC now owns 2,748 shares of the company's stock worth $321,000 after buying an additional 82 shares in the last quarter. Elmwood Wealth Management Inc. raised its position in shares of Citigroup by 1.3% in the 4th quarter. Elmwood Wealth Management Inc. now owns 6,845 shares of the company's stock valued at $799,000 after buying an additional 85 shares in the last quarter. Park Place Capital Corp lifted its holdings in shares of Citigroup by 16.7% during the 4th quarter. Park Place Capital Corp now owns 595 shares of the company's stock worth $69,000 after acquiring an additional 85 shares during the period. D.B. Root & Company LLC lifted its holdings in shares of Citigroup by 2.8% during the 4th 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 during the period. Finally, Cornerstone Wealth Management LLC boosted its position 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 acquiring an additional 87 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Key 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 at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 2,117 shares of the business's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $125.30, for a total transaction of $265,260.10. Following the sale, the director directly owned 12,194 shares of the company's stock, valued at $1,527,908.20. The trade was a 14.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Edward Skyler sold 25,000 shares of the company's stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $131.41, for a total transaction of $3,285,250.00. Following the completion of the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.11% of the company's stock.

Wall Street Analysts Forecast Growth

C has been the topic of a number of recent analyst reports. Evercore set a $139.00 price objective on shares of Citigroup in a research note on Wednesday, April 15th. Piper Sandler restated an "overweight" rating and set a $145.00 target price (up from $125.00) on shares of Citigroup in a research note on Wednesday, April 15th. Jefferies Financial Group started coverage on Citigroup in a report on Thursday, March 26th. They issued a "buy" rating and a $135.00 target price on the stock. Oppenheimer reiterated an "outperform" rating and issued a $145.00 price target on shares of Citigroup in a research note on Friday, May 8th. Finally, Barclays boosted their price target on Citigroup from $146.00 to $154.00 and gave the stock 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 given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $137.79.

Citigroup Price Performance

Shares of NYSE:C opened at $143.37 on Friday. The company has a market cap of $244.52 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 0.64 and a beta of 1.12. 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 firm has a 50 day simple moving average of $129.86 and a 200 day simple moving average of $119.49. Citigroup Inc. has a one year low of $77.50 and a one year high of $147.96.

Citigroup (NYSE:C - Get Free Report) last posted its earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, topping analysts' consensus estimates of $2.63 by $0.43. The firm had revenue of $24.63 billion for the quarter, compared to analysts' expectations of $22.96 billion. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The company's revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.96 earnings per share. Research analysts predict that Citigroup Inc. will post 10.72 earnings per share for the current fiscal year.

Citigroup announced that its board has approved a share repurchase plan on Thursday, May 7th that authorizes the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 13.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its stock is undervalued.

Citigroup Announces Dividend

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

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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