New Age Alpha Advisors LLC Sells 29,767 Shares of Citigroup Inc. $C

Key Points

• New Age Alpha Advisors LLC cut its Citigroup stake by 21.6% in the fourth quarter, selling 29,767 shares and leaving it with 108,083 shares valued at about $12.6 million.
• Citigroup has been posting solid operating results and shareholder-friendly capital returns, including Q1 earnings and revenue that beat estimates, plus a newly authorized $30 billion share buyback and a quarterly dividend of $0.60 per share.
• Wall Street sentiment remains generally positive, with several analysts raising price targets and a consensus rating of “Moderate Buy,” even as some governance concerns persist around executive compensation.

New Age Alpha Advisors LLC decreased its position in Citigroup Inc. (NYSE:C - Free Report) by 21.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,083 shares of the company's stock after selling 29,767 shares during the quarter. Citigroup makes up approximately 0.5% of New Age Alpha Advisors LLC's portfolio, making the stock its 28th largest holding. New Age Alpha Advisors LLC's holdings in Citigroup were worth $12,612,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Donaldson Capital Management LLC acquired a new stake in shares of Citigroup in the third quarter worth $58,994,000. Kovitz Investment Group Partners LLC grew its stake in shares of Citigroup by 17.3% in the third quarter. Kovitz Investment Group Partners LLC now owns 663,416 shares of the company's stock worth $67,337,000 after acquiring an additional 98,082 shares during the last quarter. Gunderson Capital Management Inc. acquired a new stake in shares of Citigroup in the fourth quarter worth $7,165,000. Brighton Jones LLC grew its stake in shares of Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock worth $1,407,000 after acquiring an additional 12,499 shares during the last quarter. Finally, Adell Harriman & Carpenter Inc. grew its stake in shares of Citigroup by 12.7% in the third quarter. Adell Harriman & Carpenter Inc. now owns 102,255 shares of the company's stock worth $10,379,000 after acquiring an additional 11,512 shares during the last quarter. Institutional investors own 71.72% of the company's stock.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup announced a private credit partnership with BlackRock’s HPS Investment Partners, a large €15 billion deal aimed at expanding direct lending across Europe, the U.K., and later the Middle East. The move could help Citi deepen its presence in private credit and generate new fee income. Citigroup (C) Forms Private Credit Partnership With BlackRock
• Positive Sentiment: Citi’s wealth business is also expanding, with management saying a significant share of new global hiring will be focused on Asia, where the private bank is growing faster and producing better productivity. That supports the bank’s restructuring story and long-term profitability goals. Citi to boost Asia wealth business with 'significant' hires, global head says
• Positive Sentiment: Citigroup shareholder approval of an expanded stock incentive plan suggests investors are backing management’s compensation and retention strategy, which can help support execution on the company’s turnaround plan. Citigroup Shareholders Approve Expanded Stock Incentive Plan
• Positive Sentiment: Citigroup also continues to benefit from a broader favorable view from analysts, including comments that Q1 results confirmed improving earnings momentum. Citigroup Upgraded As Q1 Results Confirm Earnings Improvement Direction For Banking Giant
• Neutral Sentiment: Separate commentary noted Citi expects India IPO activity to recover later this year, which is positive for capital markets activity but is more of a medium-term driver than an immediate stock catalyst. Citi sees India IPOs hitting fresh records despite challenges
• Negative Sentiment: One potential overhang is governance pressure: a separate report said more Citi shareholders voted against the bank’s say-on-pay resolution, reflecting concern about executive compensation and Jane Fraser’s pay package. More Citi shareholders vote 'no' on say-on-pay

Citigroup Stock Up 0.0%

Shares of NYSE C opened at $125.10 on Monday. The stock has a market cap of $213.36 billion, a PE ratio of 15.50, a PEG ratio of 0.56 and a beta of 1.14. The business has a fifty day moving average of $121.04 and a two-hundred day moving average of $114.93. Citigroup Inc. has a 52-week low of $71.65 and a 52-week high of $135.29. 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 quarterly earnings data on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.63 by $0.43. The company had revenue of $24.63 billion during the quarter, compared to analysts' expectations of $22.96 billion. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The business's revenue was up 14.1% on a year-over-year basis. During the same period last year, the business earned $1.96 earnings per share. As a group, equities research analysts expect that Citigroup Inc. will post 10.65 earnings per share for the current fiscal year.

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

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, May 4th. Citigroup's payout ratio is currently 29.74%.

Insider Transactions at Citigroup

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 directly owned 182,022 shares of the company's stock, valued at $23,919,511.02. The trade was a 12.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John Cunningham Dugan sold 2,117 shares of Citigroup stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $125.30, for a total value of $265,260.10. Following the completion of the transaction, 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. The SEC filing for this sale provides additional information. Insiders own 0.11% of the company's stock.

Wall Street Analysts Forecast Growth

C has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of Citigroup from $140.00 to $153.00 and gave the stock an "outperform" rating in a research note on Friday, May 8th. Wells Fargo & Company raised their price objective 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. Jefferies Financial Group initiated coverage on shares of Citigroup in a research note on Thursday, March 26th. They issued a "buy" rating and a $135.00 price objective on the stock. Zacks Research downgraded shares of Citigroup from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 20th. Finally, Truist Financial set a $147.00 price objective on shares of Citigroup in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average 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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