Marvin & Palmer Associates Inc. Raises Holdings in Citigroup Inc. $C

Key Points

• Marvin & Palmer Associates Inc. increased its Citigroup stake by 10.1% in the fourth quarter, buying 7,686 more shares and bringing its total to 83,966 shares valued at about $9.8 million.
• Citigroup’s stock was trading up about 1% at $134.63, near its 52-week high of $135.93, after posting strong quarterly results with EPS of $3.06 versus $2.63 expected and revenue of $24.63 billion, well above estimates.
• The bank also boosted shareholder returns and capital actions, authorizing a $30 billion share buyback and recently paying a quarterly dividend of $0.60 per share, or $2.40 annualized.

Marvin & Palmer Associates Inc. lifted its stake in Citigroup Inc. (NYSE:C - Free Report) by 10.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,966 shares of the company's stock after purchasing an additional 7,686 shares during the quarter. Citigroup comprises approximately 6.9% of Marvin & Palmer Associates Inc.'s holdings, making the stock its 2nd largest position. Marvin & Palmer Associates Inc.'s holdings in Citigroup were worth $9,798,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Richards Merrill & Peterson Inc. bought a new position in Citigroup in the 4th quarter valued at approximately $28,000. Dunhill Financial LLC lifted 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 buying an additional 153 shares during the period. Luken Investment Analytics LLC bought a new position in shares of Citigroup during the 4th quarter valued at $32,000. High Note Wealth LLC lifted 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 buying an additional 140 shares during the period. Finally, Entrust Financial LLC bought a new position in shares of Citigroup during the 4th quarter valued at $34,000. 71.72% of the stock is owned by institutional investors.

Key Headlines Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup’s equity strategists turned more bullish on the market, raising their year-end S&P 500 target and arguing that strong earnings growth and AI spending are still outweighing macro risks. The Stock Market Just Got Crushed. Why Citi Is Raising Its S&P 500 Target.
• Positive Sentiment: Citigroup said it expects 5% to 6% year-over-year net interest income growth in 2026, helped by rising loan demand, stabilizing deposit costs, and restructuring benefits. Citigroup's Path to 5-6% NII Rise in 2026: What's Driving the Upside?
• Positive Sentiment: Citi hired Andrew Conway as global chair of consumer and retail investment banking, a move aimed at expanding the firm’s banking franchise in that sector. Citi hires Andrew Conway as global chair of consumer and retail investment banking
• Positive Sentiment: Citi announced the full redemption of $3.15 billion in notes due 2027, a routine balance-sheet action that can modestly support capital management. Citigroup (C) Announces Full Redemption of $3.15B in Notes Due 2027
• Neutral Sentiment: Citi also warned that traders are building aggressive short positions in U.S. stocks, underscoring elevated market risk even as positioning has improved after last week’s selloff. Citi’s Chew Sees Aggressive Short-Selling Positions in US Stocks
• Neutral Sentiment: Citi trimmed its 3-month gold target to $4,000 on softer demand, which is more of a commodity call than a direct stock driver. Citi trims 3-month gold target to $4,000 on softer demand

Citigroup Trading Up 1.0%

Shares of C stock opened at $134.63 on Wednesday. Citigroup Inc. has a 12-month low of $76.11 and a 12-month high of $135.93. 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 stock's 50-day moving average price is $125.83 and its 200-day moving average price is $117.38. The stock has a market capitalization of $229.63 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 0.60 and a beta of 1.12.

Citigroup (NYSE:C - Get Free Report) last issued its earnings results 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 return on equity of 9.19% and a net margin of 9.35%.The firm had revenue of $24.63 billion for the quarter, compared to analysts' expectations of $22.96 billion. During the same period in the previous year, the firm posted $1.96 earnings per share. The business's revenue was up 14.1% compared to the same quarter last year. Equities research analysts predict that Citigroup Inc. will post 10.68 EPS for the current fiscal year.

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

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, May 4th. Citigroup's payout ratio is 29.74%.

Insider Activity

In related news, insider Edward Skyler sold 25,000 shares of Citigroup stock in a transaction dated 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 completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John Cunningham Dugan sold 2,117 shares of the firm's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $125.30, for a total transaction of $265,260.10. Following the completion of the sale, the director directly owned 12,194 shares of the company's stock, valued at approximately $1,527,908.20. The trade was a 14.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.11% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on C. Wall Street Zen raised Citigroup from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Oppenheimer reissued an "outperform" rating and set a $145.00 price target on shares of Citigroup in a report on Friday, May 8th. Keefe, Bruyette & Woods raised their target price on Citigroup from $140.00 to $153.00 and gave the stock an "outperform" rating in a report on Friday, May 8th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Citigroup in a report on Monday, April 20th. Finally, Wells Fargo & Company raised their target price on Citigroup from $160.00 to $162.00 and gave the stock an "overweight" rating in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price 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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