Northwestern Mutual Wealth Management Co. Purchases 19,842 Shares of Citigroup Inc. $C

Key Points

• Northwestern Mutual Wealth Management increased its Citigroup stake by 3.0% in the fourth quarter, buying 19,842 more shares and bringing its total holding to 689,775 shares worth about $81.2 million.
• Citigroup reported strong quarterly results, with EPS of $3.06 beating estimates and revenue of $24.63 billion topping expectations; revenue also rose 14.1% year over year.
• The bank announced a $30 billion share buyback program and a quarterly dividend of $0.60 per share, while analysts remain broadly positive with a consensus Moderate Buy rating and an average target price of $137.62.

Northwestern Mutual Wealth Management Co. boosted its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 689,775 shares of the company's stock after buying an additional 19,842 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Citigroup were worth $81,155,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Elmwood Wealth Management Inc. boosted its stake in Citigroup by 1.3% during the fourth quarter. Elmwood Wealth Management Inc. now owns 6,845 shares of the company's stock valued at $799,000 after buying an additional 85 shares during the last quarter. Park Place Capital Corp boosted its stake in Citigroup by 16.7% during the fourth quarter. Park Place Capital Corp now owns 595 shares of the company's stock valued at $69,000 after buying an additional 85 shares during the last quarter. D.B. Root & Company LLC boosted its stake in Citigroup by 2.8% during the fourth quarter. D.B. Root & Company LLC now owns 3,191 shares of the company's stock valued at $372,000 after buying an additional 87 shares during the last quarter. Cornerstone Wealth Management LLC boosted its stake in Citigroup by 0.8% during the fourth quarter. Cornerstone Wealth Management LLC now owns 10,393 shares of the company's stock valued at $1,213,000 after buying an additional 87 shares during the last quarter. Finally, N.E.W. Advisory Services LLC boosted its stake in Citigroup by 14.9% during the fourth quarter. N.E.W. Advisory Services LLC now owns 703 shares of the company's stock valued at $82,000 after buying an additional 91 shares during the last quarter. 71.72% of the stock is owned by institutional investors.

Citigroup Trading Down 0.0%

Shares of NYSE C opened at $123.39 on Monday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99. The business's 50 day moving average price is $119.50 and its 200-day moving average price is $114.13. Citigroup Inc. has a fifty-two week low of $71.65 and a fifty-two week high of $135.29. The company has a market cap of $210.46 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 0.55 and a beta of 1.14.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share 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 the consensus estimate of $22.96 billion. During the same period in the prior year, the business posted $1.96 earnings per share. The company's revenue for the quarter was up 14.1% on a year-over-year basis. On average, sell-side analysts expect that Citigroup Inc. will post 10.65 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Monday, May 4th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Monday, May 4th. Citigroup's dividend payout ratio is presently 29.74%.

Citigroup declared that its board has approved a stock repurchase program on Thursday, May 7th that permits the company to buyback $30.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 13.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

C has been the subject of a number of research reports. Oppenheimer reissued an "outperform" rating and set a $145.00 price target on shares of Citigroup in a research note on Friday, May 8th. Wall Street Zen upgraded Citigroup from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Royal Bank Of Canada restated an "outperform" rating and set a $139.00 price objective on shares of Citigroup in a research report on Wednesday, April 15th. The Goldman Sachs Group upped their price objective on Citigroup from $137.00 to $151.00 and gave the company a "buy" rating in a research report on Wednesday, April 15th. Finally, Barclays upped their price objective on Citigroup from $146.00 to $154.00 and gave the company an "overweight" rating in a research report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $137.62.

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup plans to increase headcount in its Asia-Pacific prime brokerage business by about 10%, signaling confidence in rising hedge fund activity and an opportunity to capture more trading and financing revenue. Article: C to Expand Asia Prime Brokerage Team by 10%, Eyes Hedge Fund Growth
• Positive Sentiment: Separate reports suggest Citigroup is continuing to push its Asia expansion strategy, including potential licensing progress in China and a broader push to strengthen its regional investment-banking and markets presence. Article: Citigroup to Get License for Wholly Owned China Securities Firm as CEO Joins Trump Visit
• Positive Sentiment: Citigroup has also been highlighted in analysis for adopting AI in ways that may generate returns, reinforcing the view that the bank’s technology investments could help support efficiency and profitability. Article: Citigroup: Not Only Adopting AI But Also Generating Returns
• Neutral Sentiment: Bloomberg reported that Citi said African borrowers are becoming more creative in debt sales, which is informative on market conditions but does not clearly change the near-term earnings picture. Article: Citi Says African Borrowers Are Turning Creative on Debt Sales
• Negative Sentiment: Some investors remain focused on whether Citigroup can sustain its post-earnings momentum, with recent commentary noting the stock has already pulled back from the strong rally seen after its latest quarterly results. Article: After a 63.3% Surge in a Year, Is C Stock Worth Holding on to Now?

Insider Activity at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 2,117 shares of the firm's 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 transaction, the director directly owned 12,194 shares in the company, valued at $1,527,908.20. This trade represents a 14.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Edward Skyler sold 25,000 shares of the firm's stock in a transaction 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 transaction, the insider owned 182,022 shares in the company, valued at $23,919,511.02. The trade was a 12.08% decrease in their ownership of the stock. 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.

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