Moneco Advisors LLC Has $2.82 Million Holdings in Citigroup Inc. $C

Key Points

• Moneco Advisors LLC boosted its Citigroup stake by 197.4% in the fourth quarter, ending with 24,171 shares valued at about $2.82 million.
• Citigroup reported a strong latest quarter, with EPS of $3.06 beating estimates and revenue of $24.63 billion rising 14.1% year over year.
• The company announced a $30 billion stock buyback and a quarterly dividend of $0.60 per share, underscoring management’s focus on capital returns.

Moneco Advisors LLC increased its stake in Citigroup Inc. (NYSE:C - Free Report) by 197.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,171 shares of the company's stock after purchasing an additional 16,043 shares during the period. Moneco Advisors LLC's holdings in Citigroup were worth $2,821,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in C. Wolff Wiese Magana LLC boosted its stake in Citigroup by 87.6% in the 3rd quarter. Wolff Wiese Magana LLC now owns 257 shares of the company's stock worth $26,000 after purchasing an additional 120 shares during the period. Richards Merrill & Peterson Inc. acquired a new position in Citigroup in the 4th quarter worth $28,000. Dunhill Financial LLC boosted its stake in Citigroup by 92.2% in the 3rd quarter. Dunhill Financial LLC now owns 319 shares of the company's stock worth $32,000 after purchasing an additional 153 shares during the period. Luken Investment Analytics LLC acquired a new position in Citigroup in the 4th quarter worth $32,000. Finally, Guerra Advisors Inc acquired a new position in Citigroup in the 3rd quarter worth $33,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on C shares. Wells Fargo & Company upped their target price on shares of Citigroup from $160.00 to $162.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 29th. Morgan Stanley increased their price objective on shares of Citigroup from $140.00 to $144.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 15th. Zacks Research downgraded shares of Citigroup from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 20th. Truist Financial set a $147.00 price objective on shares of Citigroup in a research note on Friday, May 1st. Finally, Oppenheimer restated an "outperform" rating and set a $145.00 price objective on shares of Citigroup in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $137.62.

Citigroup Trading Down 1.9%

Shares of NYSE:C opened at $124.10 on Thursday. Citigroup Inc. has a 52-week low of $71.65 and a 52-week high of $135.29. The company has a market capitalization of $211.66 billion, a P/E ratio of 15.38, a price-to-earnings-growth ratio of 0.57 and a beta of 1.14. The company has a 50-day simple moving average of $118.98 and a 200 day simple moving average of $113.79. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99.

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, beating 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 business had revenue of $24.63 billion during the quarter, compared to the consensus estimate of $22.96 billion. During the same period last year, the business posted $1.96 EPS. Citigroup's revenue was up 14.1% on a year-over-year basis. Sell-side analysts forecast that Citigroup Inc. will post 10.65 earnings per share for the current year.

Citigroup Announces Dividend

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

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

Insider Activity at Citigroup

In related news, insider Cantu Ernesto Torres sold 43,173 shares of the firm's stock in a transaction dated 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 trade represents a 48.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John Cunningham Dugan sold 2,117 shares of the firm's 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 completion of the sale, the director owned 12,194 shares of the company's stock, valued at $1,527,908.20. This trade represents a 14.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 94,435 shares of company stock worth $11,030,074. Insiders own 0.11% of the company's stock.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup’s recent earnings beat, stronger revenue, and higher profitability are reinforcing the case for the bank’s capital-return story, including its newly announced $30 billion share buyback, which signals management confidence and could help support the stock. What's Fueling Citigroup's Robust Capital Return Strategy?
• Positive Sentiment: Citigroup’s own market commentary and M&A-related media appearance keep the firm visible as a major Wall Street franchise, though this is more of a branding/leadership item than a direct earnings catalyst. AI Good for Media IP: Citigroup's Mohr
• Neutral Sentiment: The company also disclosed routine participation notifications and an insider transaction tied to director John Cunningham Dugan, but the sale was relatively small and does not appear to materially change the long-term outlook. SEC Director Sale Filing
• Negative Sentiment: Director John Cunningham Dugan sold 2,117 shares of Citigroup stock, which can create a slight overhang on sentiment even though the transaction was not large relative to the company’s size. Insider Selling: Citigroup NYSE: C Director Sells 2,117 Shares of Stock

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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