Sargent Investment Group LLC Makes New $1.46 Million Investment in Citigroup Inc. $C

Key Points

• Sargent Investment Group LLC opened a new position in Citigroup in the fourth quarter, buying 12,513 shares valued at about $1.46 million.
• Citigroup has been seeing continued institutional interest, with several other investors boosting holdings; in total, about 71.72% of the stock is owned by institutions.
• The bank reported strong quarterly results, beating expectations with $3.06 EPS on $24.63 billion in revenue, and it also authorized a $30 billion share repurchase plan.

Sargent Investment Group LLC acquired a new stake in Citigroup Inc. (NYSE:C - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 12,513 shares of the company's stock, valued at approximately $1,460,000.

Several other large investors also recently modified their holdings of the stock. Truist Financial Corp increased its position in 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 acquiring an additional 16,744 shares during the period. Kovitz Investment Group Partners LLC increased its position in Citigroup by 17.3% during 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 period. Gunderson Capital Management Inc. bought a new position in Citigroup during the fourth quarter worth about $7,165,000. Brighton Jones LLC increased its position in Citigroup by 166.9% during 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 period. Finally, PNC Financial Services Group Inc. increased its position in Citigroup by 4.5% during the third quarter. PNC Financial Services Group Inc. now owns 416,872 shares of the company's stock worth $42,313,000 after acquiring an additional 18,029 shares during the period. 71.72% of the stock is owned by institutional investors.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup launched tokenized Digital Depositary Receipts, creating a new blockchain-based way for clients to gain exposure to private companies and for issuers to tap liquidity, reinforcing Citi’s push into next-generation capital markets. Citigroup Is Rolling Out Tokenized Shares of Private Companies
• Positive Sentiment: Related coverage said Citi is expanding access to private markets with tokenized private-share trading, which could open a new fee-generating business line and strengthen its innovation story with large clients. Citigroup Expands Access to Private Markets With Tokenized Depositary Receipts
• Positive Sentiment: Trump praised Citigroup and CEO Jane Fraser as a top M&A adviser, which helped fuel momentum and reinforced confidence in Citi’s investment banking comeback. Citigroup shares outperform down market after Trump endorsement
• Positive Sentiment: Citi also continued building out its consumer and retail investment banking franchise with a new managing director hire, suggesting management is still investing in growth areas. Citi hires Ryan Beaupré as MD in consumer and retail investment banking push
• Neutral Sentiment: Citi completed the sale of its Polish consumer banking business, continuing its multi-year retreat from underperforming overseas markets. This supports simplification, but it also shows ongoing shrinkage in some international operations. Citi's overseas retreat advances with sale of Polish business
• Neutral Sentiment: Reports that regulators are probing banks’ use of AI could raise compliance scrutiny for the sector, but there was no Citi-specific issue mentioned. Bank Regulators Probe Industry Use of AI

Insider Buying and Selling at Citigroup

In other news, Director John Cunningham Dugan sold 2,117 shares of Citigroup stock in a transaction 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 transaction, the director owned 12,194 shares in the company, valued at approximately $1,527,908.20. This trade represents a 14.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Edward Skyler sold 25,000 shares of Citigroup stock in a transaction on Wednesday, April 15th. The shares were 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 owned 182,022 shares in the company, valued at approximately $23,919,511.02. The trade was a 12.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.11% of the company's stock.

Citigroup Price Performance

C stock opened at $139.68 on Monday. The company has a quick ratio of 0.99, a current 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 $141.12. The firm has a market cap of $238.23 billion, a P/E ratio of 17.31, a P/E/G ratio of 0.62 and a beta of 1.12. The company's 50-day moving average price is $127.34 and its two-hundred day moving average price is $118.19.

Citigroup (NYSE:C - Get Free Report) last issued its earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, beating 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 firm had revenue of $24.63 billion for the quarter, compared to the consensus estimate of $22.96 billion. During the same quarter last year, the business posted $1.96 EPS. The company's revenue was up 14.1% compared to the same quarter last year. On average, analysts anticipate that Citigroup Inc. will post 10.68 earnings per share for the current fiscal year.

Citigroup announced that its board has authorized 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 repurchase up to 13.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its stock is undervalued.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were paid a $0.60 dividend. The ex-dividend date was Monday, May 4th. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. Citigroup's dividend payout ratio (DPR) is presently 29.74%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on C. Barclays raised their price target on shares of Citigroup from $146.00 to $154.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 15th. Keefe, Bruyette & Woods raised their price target on shares of Citigroup from $140.00 to $153.00 and gave the stock an "outperform" rating in a research report on Friday, May 8th. Wells Fargo & Company raised their price target on shares of Citigroup from $160.00 to $162.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 29th. Wall Street Zen raised shares of Citigroup from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $139.00 price target on shares of Citigroup in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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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