F m Investments LLC Has $7 Million Stake in Citigroup Inc. $C

Key Points

• F m Investments LLC cut its Citigroup stake by 28.6% in the fourth quarter, leaving it with 59,961 shares valued at about $7.0 million.
• Citigroup is drawing mixed but generally positive Wall Street attention after unveiling a $30 billion share buyback plan and setting a 2027-2028 profitability target of 11% to 13% adjusted return on tangible common equity.
• The company beat earnings expectations in its latest quarter, reporting $3.06 EPS on $24.63 billion in revenue, while analysts now have a consensus “Moderate Buy” rating and a target price of $137.62.

F m Investments LLC decreased its position in Citigroup Inc. (NYSE:C - Free Report) by 28.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,961 shares of the company's stock after selling 23,962 shares during the quarter. F m Investments LLC's holdings in Citigroup were worth $6,997,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Donaldson Capital Management LLC acquired a new position in shares of Citigroup in the third quarter valued at approximately $58,994,000. Kovitz Investment Group Partners LLC grew its position in shares of Citigroup by 17.3% in the third quarter. Kovitz Investment Group Partners LLC now owns 663,416 shares of the company's stock valued at $67,337,000 after purchasing an additional 98,082 shares during the last quarter. Brighton Jones LLC grew its position 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 purchasing an additional 12,499 shares during the last quarter. Gunderson Capital Management Inc. acquired a new position in shares of Citigroup in the fourth quarter valued at approximately $7,165,000. Finally, Adell Harriman & Carpenter Inc. grew its position in shares of Citigroup by 12.7% in the third quarter. Adell Harriman & Carpenter Inc. now owns 102,255 shares of the company's stock valued at $10,379,000 after purchasing an additional 11,512 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company's stock.

Key Headlines Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup unveiled a new $30 billion share buyback plan, a strong signal that management sees the stock as undervalued and has confidence in its capital position. RTT News
• Positive Sentiment: The company set a profitability target of 11% to 13% adjusted return on tangible common equity for 2027-2028, with further improvement expected by 2031, reinforcing the turnaround story. Reuters
• Positive Sentiment: Keefe, Bruyette & Woods raised its price target on Citigroup to $153 from $140 and kept an outperform rating, showing Wall Street still sees meaningful upside. Benzinga
• Neutral Sentiment: CEO Jane Fraser said the global economy remains resilient, but warned that the market may not yet fully understand the second- and third-order effects of the Iran war and ongoing inflation pressures. YouTube/CNBC
• Negative Sentiment: Some investors viewed the new profit targets as too modest, suggesting Citigroup may still trail peers longer than hoped despite the overhaul. Quartz

Analyst Ratings Changes

Several equities analysts have recently commented on C shares. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $139.00 target price on shares of Citigroup in a research report on Wednesday, April 15th. Jefferies Financial Group started coverage on Citigroup in a research report on Thursday, March 26th. They set a "buy" rating and a $135.00 price target on the stock. Truist Financial set a $147.00 price target on Citigroup in a research report on Friday, May 1st. Wells Fargo & Company increased their price target on Citigroup from $160.00 to $162.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 29th. Finally, Barclays increased their price target on Citigroup from $146.00 to $154.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 15th. 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $137.62.

Insiders Place Their Bets

In other Citigroup news, insider Edward Skyler sold 25,000 shares of the firm's stock in a transaction 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 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 SEC, which can be accessed through the SEC website. Also, insider Cantu Ernesto Torres sold 43,173 shares of the firm's stock in a transaction on Friday, February 13th. The shares were sold at an average price of $111.09, for a total value of $4,796,088.57. Following the completion of the sale, the insider directly owned 45,835 shares in the company, valued at approximately $5,091,810.15. This represents a 48.50% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 92,318 shares of company stock worth $10,764,814. Company insiders own 0.11% of the company's stock.

Citigroup Trading Down 2.8%

Shares of NYSE:C opened at $125.52 on Friday. The company has a market capitalization of $215.26 billion, a P/E ratio of 15.55, a P/E/G ratio of 0.58 and a beta of 1.14. Citigroup Inc. has a 1 year low of $71.29 and a 1 year 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 1.00. The business's 50 day simple moving average is $117.98 and its 200 day simple moving average is $113.01.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.63 by $0.43. The business had revenue of $24.63 billion for the quarter, compared to the consensus estimate of $22.96 billion. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The firm's quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.96 earnings per share. On average, research analysts anticipate that Citigroup Inc. will post 10.65 EPS for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders 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 dividend payout ratio (DPR) is currently 29.74%.

Citigroup announced that its Board of Directors 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 generally an indication that the company's board 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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