Rayburn West Financial Services LLC Acquires Shares of 35,365 Citigroup Inc. $C

Key Points

• Rayburn West Financial Services opened a new position in Citigroup in the fourth quarter, buying 35,365 shares valued at about $4.13 million. The stake now represents roughly 2.6% of its portfolio.
• Several analysts turned more positive on Citigroup, including a buy upgrade from Wall Street Zen and higher price targets from firms like Keefe, Bruyette & Woods. The stock now has a consensus rating of Moderate Buy with an average target price of $137.62.
• Citigroup reported better-than-expected quarterly results, with EPS of $3.06 and revenue of $24.63 billion, and it also announced a $30 billion share buyback plus a quarterly dividend of $0.60 per share.

Rayburn West Financial Services LLC acquired a new stake in Citigroup Inc. (NYSE:C - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 35,365 shares of the company's stock, valued at approximately $4,127,000. Citigroup accounts for about 2.6% of Rayburn West Financial Services LLC's portfolio, making the stock its 9th largest holding.

A number of other large investors also recently modified their holdings of the stock. Grey Ledge Advisors LLC lifted its holdings in shares of Citigroup by 2.4% in the fourth quarter. Grey Ledge Advisors LLC now owns 4,178 shares of the company's stock valued at $488,000 after purchasing an additional 96 shares in the last quarter. Moneco Advisors LLC lifted its holdings in shares of Citigroup by 197.4% in the fourth quarter. Moneco Advisors LLC now owns 24,171 shares of the company's stock valued at $2,821,000 after purchasing an additional 16,043 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. lifted its holdings in shares of Citigroup by 84.5% in the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 4,582 shares of the company's stock valued at $517,000 after purchasing an additional 2,099 shares in the last quarter. Biltmore Family Office LLC bought a new position in shares of Citigroup in the fourth quarter valued at approximately $219,000. Finally, Global Wealth Management Investment Advisory Inc. bought a new position in shares of Citigroup in the fourth quarter valued at approximately $210,000. Institutional investors own 71.72% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on C. Wall Street Zen upgraded Citigroup from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Keefe, Bruyette & Woods raised their target price on Citigroup from $140.00 to $153.00 and gave the company an "outperform" rating in a report on Friday, May 8th. Oppenheimer restated an "outperform" rating and issued a $145.00 target price on shares of Citigroup in a report on Friday, May 8th. Royal Bank Of Canada restated an "outperform" rating and issued a $139.00 target price on shares of Citigroup in a report on Wednesday, April 15th. Finally, Truist Financial set a $147.00 price target on Citigroup in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $137.62.

Insider Activity

In other news, insider Edward Skyler sold 25,000 shares of Citigroup 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 completion of the transaction, the insider directly owned 182,022 shares in the company, valued at approximately $23,919,511.02. The trade was a 12.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cantu Ernesto Torres sold 43,173 shares of Citigroup stock in a transaction on 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 transaction, the insider owned 45,835 shares of the company's stock, valued at approximately $5,091,810.15. This trade represents a 48.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 94,435 shares of company stock worth $11,030,074. 0.11% of the stock is owned by corporate insiders.

Citigroup Stock Performance

NYSE:C opened at $124.10 on Thursday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.99 and a quick ratio of 0.99. The business has a fifty day simple moving average of $118.98 and a two-hundred day simple moving average of $113.79. Citigroup Inc. has a 1 year low of $71.65 and a 1 year high of $135.29. The company has a market capitalization of $211.66 billion, a P/E ratio of 15.38, a P/E/G ratio of 0.57 and a beta of 1.14.

Citigroup (NYSE:C - Get Free Report) last released 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 return on equity of 9.19% and a net margin of 9.35%.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 earnings per share. The business's revenue for the quarter was up 14.1% on a year-over-year basis. On average, analysts expect that Citigroup Inc. will post 10.65 earnings per share for the current year.

Citigroup Announces Dividend

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

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

Key Stories Impacting Citigroup

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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