Larry Mathis Financial Planning LLC Invests $860,000 in Citigroup Inc. $C

Key Points

• Larry Mathis Financial Planning LLC bought a new stake in Citigroup in the fourth quarter, purchasing 7,367 shares valued at about $860,000.
• Institutional interest in Citigroup remains broad, with several hedge funds and asset managers adding positions; overall, 71.72% of the stock is owned by institutional investors.
• Citigroup has recent operational positives, including better-than-expected quarterly earnings, a new $30 billion share repurchase program, and a quarterly dividend of $0.60 per share.

Larry Mathis Financial Planning LLC purchased a new stake in Citigroup Inc. (NYSE:C - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 7,367 shares of the company's stock, valued at approximately $860,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisortrust Partners LLC purchased a new stake in Citigroup during the 4th quarter worth about $264,000. PeakShares LLC bought a new position in Citigroup in the 4th quarter worth about $303,000. Audent Global Asset Management LLC grew its holdings in Citigroup by 16.1% during the 4th quarter. Audent Global Asset Management LLC now owns 9,519 shares of the company's stock valued at $1,111,000 after buying an additional 1,317 shares in the last quarter. Corient Private Wealth LLC grew its holdings in Citigroup by 18.7% during the 4th quarter. Corient Private Wealth LLC now owns 524,574 shares of the company's stock valued at $61,215,000 after buying an additional 82,674 shares in the last quarter. Finally, Union Savings Bank bought a new stake in shares of Citigroup during the fourth quarter valued at about $218,000. 71.72% of the stock is currently owned by institutional investors.

Trending Headlines about Citigroup

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

Insiders Place Their Bets

In other news, insider Edward Skyler sold 25,000 shares of the firm's stock in a transaction 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 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John Cunningham Dugan sold 2,117 shares of Citigroup stock in a transaction on Friday, May 8th. The stock was 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. This represents a 14.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.11% of the stock is owned by corporate insiders.

Citigroup Stock Performance

Shares of C opened at $143.37 on Friday. Citigroup Inc. has a 12-month low of $77.50 and a 12-month high of $147.96. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. The company has a market cap of $244.52 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12. The stock has a 50-day moving average price of $129.86 and a 200-day moving average price of $119.49.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.43. The company 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%. Citigroup's revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.96 earnings per share. As a group, equities analysts forecast that Citigroup Inc. will post 10.72 earnings per share for the current fiscal year.

Citigroup declared that its board has initiated a share repurchase program on Thursday, May 7th that permits the company to repurchase $30.00 billion in shares. This repurchase authorization permits the company to repurchase up to 13.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's management believes its shares are undervalued.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. Citigroup's dividend payout ratio is presently 29.74%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on C. Wells Fargo & Company raised their price objective on shares of Citigroup from $162.00 to $165.00 and gave the company an "overweight" rating in a research report on Thursday. The Goldman Sachs Group upped their target price on shares of Citigroup from $137.00 to $151.00 and gave the stock a "buy" rating in a report on Wednesday, April 15th. Piper Sandler reiterated an "overweight" rating and issued a $145.00 target price (up from $125.00) on shares of Citigroup in a research note on Wednesday, April 15th. Royal Bank Of Canada reissued an "outperform" rating and issued a $139.00 price target on shares of Citigroup in a report on Wednesday, April 15th. Finally, Jefferies Financial Group initiated coverage on shares of Citigroup in a research report on Thursday, March 26th. They set a "buy" rating and a $135.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $137.79.

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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