Miller Howard Investments Inc. NY Sells 117,219 Shares of Citigroup Inc. $C

Key Points

• Miller Howard Investments cut its Citigroup stake by 20% in the first quarter, selling 117,219 shares and leaving it with 469,968 shares worth about $53.3 million.
• Citigroup has been attracting generally positive analyst sentiment, with multiple firms raising price targets and the stock carrying an average Moderate Buy rating and a consensus target of $137.79.
• The bank reported better-than-expected Q1 results, including EPS of $3.06 versus $2.63 expected, and also announced a $30 billion share repurchase program plus a quarterly dividend of $0.60 per share.

Miller Howard Investments Inc. NY lowered its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 20.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 469,968 shares of the company's stock after selling 117,219 shares during the quarter. Citigroup comprises approximately 1.5% of Miller Howard Investments Inc. NY's holdings, making the stock its 28th largest holding. Miller Howard Investments Inc. NY's holdings in Citigroup were worth $53,299,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Centennial Wealth Advisory LLC acquired a new position in shares of Citigroup in the 1st quarter valued at $236,000. CENTRAL TRUST Co boosted its position in shares of Citigroup by 8.3% during the 1st quarter. CENTRAL TRUST Co now owns 19,504 shares of the company's stock valued at $2,212,000 after acquiring an additional 1,495 shares in the last quarter. EdgeRock Capital LLC increased its stake in Citigroup by 7.7% in the first quarter. EdgeRock Capital LLC now owns 2,780 shares of the company's stock valued at $315,000 after acquiring an additional 199 shares during the period. Cora Capital Advisors LLC raised its position in Citigroup by 3.1% in the first quarter. Cora Capital Advisors LLC now owns 2,609 shares of the company's stock worth $296,000 after purchasing an additional 78 shares in the last quarter. Finally, Berman McAleer LLC raised its position in Citigroup by 7.4% in the first quarter. Berman McAleer LLC now owns 3,095 shares of the company's stock worth $351,000 after purchasing an additional 214 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup’s earnings outlook remains constructive, with discussion pointing to solid positioning, lower short interest in the broader market, and expectations for continued strength versus peers. Citigroup Stock (C) Opinions on Market Positioning and Earnings Outlook
• Positive Sentiment: Wells Fargo raised its price target on Citigroup to $165 and reiterated an Overweight rating, signaling continued analyst confidence in the bank’s profitability outlook. Citigroup (C) Could Surpass Long-Term Profitability Target, According to Wells Fargo
• Positive Sentiment: Citigroup has also been described as a strong momentum stock, reflecting sustained investor interest after its strong run since late 2023. Here's Why Citigroup (C) is a Strong Momentum Stock
• Neutral Sentiment: Citigroup continues expanding internationally, including naming Rajeev Garg as UAE wealth head, which supports its wealth-management strategy but is unlikely to move the shares much on its own. Citi names Rajeev Garg as UAE wealth head
• Neutral Sentiment: Citi-related filings showed entities exiting substantial holder status in Telix Pharmaceuticals and Resolute Mining, but these are portfolio-management updates rather than direct signals about Citigroup’s core business. Citigroup Entities Exit Substantial Holder Status in Telix Pharmaceuticals
• Negative Sentiment: Insider-trading data remains a mild overhang, with recent open-market activity showing only sales and no purchases over the past six months. Citigroup Stock (C) Opinions on Market Positioning and Earnings Outlook

Analyst Ratings Changes

A number of research firms have weighed in on C. Barclays lifted their price objective on Citigroup from $146.00 to $154.00 and gave the company an "overweight" rating in a report on Wednesday, April 15th. The Goldman Sachs Group raised their target price on Citigroup from $137.00 to $151.00 and gave the stock a "buy" rating in a research report on Wednesday, April 15th. Keefe, Bruyette & Woods boosted their target price on shares of Citigroup from $140.00 to $153.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. Truist Financial set a $147.00 target price on shares of Citigroup in a research report on Friday, May 1st. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $139.00 price target on shares of Citigroup in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $137.79.

Citigroup Trading Down 0.3%

C opened at $145.30 on Wednesday. Citigroup Inc. has a 1-year low of $79.88 and a 1-year high of $147.96. The stock has a market capitalization of $247.82 billion, a PE ratio of 18.00, a PEG ratio of 0.63 and a beta of 1.12. 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 firm has a 50-day moving average price of $130.70 and a two-hundred day moving average price of $120.18.

Citigroup (NYSE:C - Get Free Report) last announced its 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. 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 analyst estimates of $22.96 billion. During the same period in the prior year, the business earned $1.96 earnings per share. Citigroup's quarterly revenue was up 14.1% on a year-over-year basis. As a group, equities analysts anticipate that Citigroup Inc. will post 10.72 earnings per share for the current fiscal year.

Citigroup Announces Dividend

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

Citigroup announced that its Board of Directors has approved a share repurchase program on Thursday, May 7th that authorizes the company to buyback $30.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 13.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Insider Transactions at Citigroup

In other Citigroup news, insider Edward Skyler sold 25,000 shares of the firm'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 value of $3,285,250.00. Following the transaction, the insider directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.11% of the company's stock.

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.

Want to see what other hedge funds are holding C? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citigroup Inc. (NYSE:C - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.