Rockefeller Capital Management L.P. Buys 128,108 Shares of Citigroup Inc. $C

Key Points

• Rockefeller Capital Management increased its Citigroup stake by 16.1% in Q4, buying 128,108 more shares and bringing its total holdings to 923,984 shares valued at about $107.8 million.
• Citigroup reported stronger-than-expected earnings for the quarter, with EPS of $3.06 versus the $2.63 consensus and revenue of $24.63 billion, up 14.1% year over year.
• The company also authorized a $30 billion share buyback and paid a quarterly dividend of $0.60 per share, reflecting continued shareholder returns amid generally positive analyst sentiment.

Rockefeller Capital Management L.P. lifted its stake in Citigroup Inc. (NYSE:C - Free Report) by 16.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 923,984 shares of the company's stock after buying an additional 128,108 shares during the period. Rockefeller Capital Management L.P. owned about 0.05% of Citigroup worth $107,820,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors 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 worth $43,873,000 after buying an additional 16,744 shares in the last quarter. Gunderson Capital Management Inc. acquired a new position in shares of Citigroup in the 4th quarter worth approximately $7,165,000. Kovitz Investment Group Partners LLC boosted its holdings in shares of Citigroup by 17.3% in the 3rd 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 in the last quarter. Brighton Jones LLC grew its position in Citigroup by 166.9% during the 4th 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, UniSuper Management Pty Ltd increased its holdings in Citigroup by 38.8% during the 4th quarter. UniSuper Management Pty Ltd now owns 1,306,851 shares of the company's stock valued at $152,496,000 after purchasing an additional 365,041 shares in the last quarter. Institutional investors own 71.72% of the company's stock.

Citigroup Stock Up 0.2%

Shares of C opened at $143.37 on Friday. The firm has a market capitalization of $244.52 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 0.64 and a beta of 1.12. 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 fifty day moving average price is $129.86 and its two-hundred day moving average price is $119.49. Citigroup Inc. has a 52 week low of $77.50 and a 52 week high of $147.96.

Citigroup (NYSE:C - Get Free Report) last released its earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share 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 company had revenue of $24.63 billion during the quarter, compared to the consensus estimate of $22.96 billion. During the same quarter in the previous year, the company posted $1.96 earnings per share. The firm's quarterly revenue was up 14.1% on a year-over-year basis. On average, analysts predict that Citigroup Inc. will post 10.72 earnings per share for the current year.

Citigroup declared that its board has initiated a stock buyback program 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Citigroup Dividend Announcement

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

Insider Activity

In other Citigroup news, Director John Cunningham Dugan sold 2,117 shares of the company'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 transaction, the director directly owned 12,194 shares in the company, valued at approximately $1,527,908.20. This represents a 14.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Edward Skyler sold 25,000 shares of the firm's stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $131.41, for a total transaction of $3,285,250.00. Following the completion of the transaction, the insider directly owned 182,022 shares in the company, valued at $23,919,511.02. This trade represents a 12.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.11% of the company's stock.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi’s latest macro view suggests the Federal Reserve may keep rates higher for longer, which could boost net interest income for Citigroup (C) if short-term yields remain elevated. Citi Predicts Fed Rate Cuts Will Come Later Than Expected
• Positive Sentiment: The bank also announced a leadership move in Asia, appointing JianXun Toh to lead corporate banking in Japan, Asia North and Australia, reinforcing its push to grow institutional banking in a key region. Citigroup (C) Appoints JianXun Toh To Lead Corporate Banking In JANA
• Positive Sentiment: Analyst sentiment remains supportive, with Citigroup receiving a consensus “Moderate Buy” rating, which can help reinforce investor confidence in the stock. Citigroup Inc. NYSE: C Receives Consensus Recommendation of "Moderate Buy" from Analysts
• Neutral Sentiment: Citi also highlighted innovation in asset management with a new report on “operational alpha,” underscoring its broader financial-services research franchise, though the direct stock impact is limited. Citi and CREATE-Research Report: Innovation in Asset Management Pivots to ‘Operational Alpha’
• Negative Sentiment: A Reuters/Fox Business report said the Justice Department is probing transactions tied to a network linked to Iran’s supreme leader, including possible connections to Wall Street firms such as Citigroup, creating headline risk for the bank. DOJ probes JPMorgan, Citigroup transactions tied to Iran supreme leader's business network

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on C shares. JPMorgan Chase & Co. boosted their price objective on Citigroup from $131.00 to $135.50 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Piper Sandler restated an "overweight" rating and issued a $145.00 target price (up from $125.00) on shares of Citigroup in a research note on Wednesday, April 15th. Jefferies Financial Group initiated coverage on Citigroup in a report on Thursday, March 26th. They issued a "buy" rating and a $135.00 price target for the company. Royal Bank Of Canada reiterated an "outperform" rating and set a $139.00 price target on shares of Citigroup in a research report on Wednesday, April 15th. Finally, Barclays increased their price objective on shares of Citigroup from $146.00 to $154.00 and gave the stock an "overweight" rating in a report on Wednesday, April 15th. One equities 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. Based on data from MarketBeat, Citigroup presently has an average rating of "Moderate Buy" and an average target price of $137.79.

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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