Mosley Wealth Management Purchases Shares of 18,913 Citigroup Inc. $C

Key Points

• Mosley Wealth Management opened a new position in Citigroup, buying 18,913 shares valued at about $2.2 million. The stake makes up roughly 1.0% of its portfolio.
• Citigroup has seen continued interest from other institutions, with hedge funds and other investors holding 71.72% of the stock. Several firms increased their positions in recent quarters.
• The article highlights several bullish signals for Citi, including a recent earnings beat, a $30 billion share repurchase plan, and analyst sentiment that remains Moderate Buy with a consensus target of $137.62.

Mosley Wealth Management purchased a new stake in shares of Citigroup Inc. (NYSE:C - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,913 shares of the company's stock, valued at approximately $2,207,000. Citigroup comprises about 1.0% of Mosley Wealth Management's holdings, making the stock its 24th biggest position.

Other hedge funds have also modified their holdings of the company. Truist Financial Corp increased its holdings in shares of Citigroup by 4.7% during the fourth quarter. Truist Financial Corp now owns 375,977 shares of the company's stock valued at $43,873,000 after acquiring an additional 16,744 shares in the last quarter. Kovitz Investment Group Partners LLC increased its holdings in shares of Citigroup by 17.3% during the third quarter. Kovitz Investment Group Partners LLC now owns 663,416 shares of the company's stock valued at $67,337,000 after acquiring an additional 98,082 shares in the last quarter. Gunderson Capital Management Inc. acquired a new position in shares of Citigroup during the fourth quarter valued at about $7,165,000. Brighton Jones LLC increased its holdings in shares of Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after acquiring an additional 12,499 shares in the last quarter. Finally, Varma Mutual Pension Insurance Co increased its holdings in shares of Citigroup by 21.9% during the third quarter. Varma Mutual Pension Insurance Co now owns 341,876 shares of the company's stock valued at $34,700,000 after acquiring an additional 61,500 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on C shares. Wall Street Zen upgraded shares of Citigroup from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Truist Financial set a $147.00 price target on shares of Citigroup in a report on Friday, May 1st. Evercore set a $139.00 price target on shares of Citigroup in a report on Wednesday, April 15th. Keefe, Bruyette & Woods increased their price target on shares of Citigroup from $140.00 to $153.00 and gave the stock an "outperform" rating in a report on Friday, May 8th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $145.00 price target (up from $125.00) on shares of Citigroup in a report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $137.62.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup is rolling out tokenized depositary receipts for private-company shares, a move that could broaden access to private markets and create a new growth avenue for the bank. Article title
• Positive Sentiment: Reuters reported that Citi hired Ryan Beaupré as a managing director in its consumer and retail investment banking group, signaling continued effort to expand the franchise and deepen client coverage. Article title
• Positive Sentiment: Citigroup’s recent earnings beat and revenue growth continue to support the stock, with Q1 EPS and revenue both topping expectations and underscoring improving operating momentum. Article title
• Neutral Sentiment: President Trump publicly praised Citigroup and CEO Jane Fraser for M&A advisory work, which helped sentiment, but some reports noted the ranking was overstated, limiting the fundamental impact. Article title
• Neutral Sentiment: Market commentary also pointed to Citigroup’s turnaround progress, solid trading conditions, and a constructive investment banking outlook, which supports the stock but is largely a continuation of existing optimism. Article title

Citigroup Trading Up 3.4%

Citigroup stock opened at $137.89 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. Citigroup Inc. has a 12 month low of $76.11 and a 12 month high of $138.23. The stock's 50 day simple moving average is $126.85 and its two-hundred day simple moving average is $117.91. The firm has a market cap of $235.18 billion, a PE ratio of 17.09, a P/E/G ratio of 0.60 and a beta of 1.12.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 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 business had revenue of $24.63 billion for the quarter, compared to analyst estimates of $22.96 billion. During the same quarter in the prior year, the firm posted $1.96 EPS. The business's quarterly revenue was up 14.1% compared to the same quarter last year. Analysts anticipate that Citigroup Inc. will post 10.68 earnings per share for the current year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.7%. The ex-dividend date was Monday, May 4th. Citigroup's dividend payout ratio is currently 29.74%.

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

Insider Activity at Citigroup

In other Citigroup news, insider Edward Skyler sold 25,000 shares of the company's stock in a transaction that occurred on 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 sale, the insider owned 182,022 shares in the company, valued at approximately $23,919,511.02. This represents a 12.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John Cunningham Dugan sold 2,117 shares of the company's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $125.30, for a total value of $265,260.10. Following the completion of the sale, the director owned 12,194 shares in the company, valued at approximately $1,527,908.20. This represents a 14.79% decrease in their position. The disclosure for this sale is available in the SEC filing. 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.

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