IFP Advisors Inc Acquires 16,010 Shares of Citigroup Inc. $C

Key Points

• IFP Advisors Inc boosted its Citigroup stake by 134.6% in the fourth quarter, buying 16,010 more shares and bringing its total holdings to 27,902 shares worth about $3.26 million.
• Citigroup reported a strong quarter, with EPS of $3.06 topping estimates and revenue of $24.63 billion also above expectations. Revenue rose 14.1% year over year, and analysts now expect $10.65 EPS for the full year.
• The bank authorized a $30 billion stock buyback and declared a quarterly dividend of $0.60 per share, equal to a 1.9% annualized yield. Meanwhile, analysts remain mostly positive, with a consensus rating of Moderate Buy and an average price target of $137.62.

IFP Advisors Inc grew its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 134.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,902 shares of the company's stock after purchasing an additional 16,010 shares during the quarter. IFP Advisors Inc's holdings in Citigroup were worth $3,256,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Richards Merrill & Peterson Inc. bought a new position in shares of Citigroup during the 4th quarter valued at $28,000. Dunhill Financial LLC raised its holdings in shares of Citigroup by 92.2% during the 3rd quarter. Dunhill Financial LLC now owns 319 shares of the company's stock valued at $32,000 after purchasing an additional 153 shares in the last quarter. Luken Investment Analytics LLC bought a new position in shares of Citigroup during the 4th quarter valued at $32,000. High Note Wealth LLC raised its holdings in shares of Citigroup by 107.7% during the 4th quarter. High Note Wealth LLC now owns 270 shares of the company's stock valued at $32,000 after purchasing an additional 140 shares in the last quarter. Finally, Guerra Advisors Inc bought a new position in shares of Citigroup during the 3rd quarter valued at $33,000. Institutional investors own 71.72% of the company's stock.

Citigroup Stock Performance

NYSE:C opened at $125.19 on Friday. The firm's 50-day moving average is $120.72 and its 200-day moving average is $114.77. Citigroup Inc. has a 52-week low of $71.65 and a 52-week high of $135.29. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $213.51 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 0.56 and a beta of 1.14.

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

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

Citigroup Announces Dividend

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

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup shareholders approved an expanded stock incentive plan at the company’s May 20 annual meeting, which should give management more flexibility to retain and motivate employees through equity compensation. Citigroup Shareholders Approve Expanded Stock Incentive Plan
• Positive Sentiment: Several commentary pieces highlighted Citigroup as undervalued or attractive for income-focused investors, reinforcing the view that the stock still has room to rerate after recent earnings improvement. 5 Most Undervalued US Stocks According to Hedge Funds Why Citigroup (C) is a Top Dividend Stock for Your Portfolio
• Neutral Sentiment: Citigroup also remained active in market commentary on India IPOs and currency controls, but these reports are more about its broader banking views than a direct business update for the company. Citi sees India IPOs hitting fresh records despite challenges Citi Sees India IPOs Hitting Fresh Records Despite Challenges
• Neutral Sentiment: There was also a report that Trump backed away from requiring banks to collect citizenship information, which slightly reduces regulatory overhang but does not materially change Citigroup’s near-term fundamentals. Trump backs down from idea of banks collecting citizenship information
• Negative Sentiment: On the other hand, Citi faced fresh governance scrutiny after a separate report said more shareholders voted against the bank’s say-on-pay proposal, signaling some dissatisfaction with executive compensation practices. More Citi shareholders vote 'no' on say-on-pay

Insider Activity

In other news, Director John Cunningham Dugan sold 2,117 shares of Citigroup stock in a transaction dated 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 in the company, valued at approximately $1,527,908.20. The trade was a 14.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edward Skyler sold 25,000 shares of Citigroup stock in a transaction dated 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 sale, the insider owned 182,022 shares in the company, valued at approximately $23,919,511.02. This trade 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 insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of Citigroup from $137.00 to $151.00 and gave the company a "buy" rating in a report on Wednesday, April 15th. JPMorgan Chase & Co. boosted their target price on shares of Citigroup from $131.00 to $135.50 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Piper Sandler reissued 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. Morgan Stanley boosted their target price on shares of Citigroup from $140.00 to $144.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 15th. Finally, Evercore set a $139.00 target price on shares of Citigroup in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $137.62.

Citigroup Company 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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