Themes Management Co LLC Invests $961,000 in Citigroup Inc. $C

Key Points

• Themes Management Co LLC opened a new position in Citigroup during the fourth quarter, buying 8,232 shares worth about $961,000.
• Citigroup reported strong first-quarter results, posting $3.06 EPS versus $2.63 expected and revenue of $24.63 billion, while also raising its annualized dividend to $2.40 per share for a 1.9% yield.
• The company’s board authorized a $30 billion share buyback, and analysts remain constructive with a consensus rating of Moderate Buy and an average price target of $137.62.

Themes Management Co LLC bought a new position in Citigroup Inc. (NYSE:C - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,232 shares of the company's stock, valued at approximately $961,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Donaldson Capital Management LLC purchased a new stake in shares of Citigroup in the 3rd quarter worth about $58,994,000. Kovitz Investment Group Partners LLC lifted its position in Citigroup by 17.3% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 663,416 shares of the company's stock valued at $67,337,000 after acquiring an additional 98,082 shares during the period. Gunderson Capital Management Inc. purchased a new position in Citigroup during the 4th quarter valued at about $7,165,000. Brighton Jones LLC boosted its stake 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 in the last quarter. Finally, Adell Harriman & Carpenter Inc. grew its holdings in 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 purchasing an additional 11,512 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Citigroup Trading Up 0.0%

Shares of C stock opened at $125.10 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. Citigroup Inc. has a 12-month low of $71.65 and a 12-month high of $135.29. The stock has a market capitalization of $213.36 billion, a P/E ratio of 15.50, a P/E/G ratio of 0.56 and a beta of 1.14. The firm's 50 day moving average is $121.42 and its 200 day moving average is $115.10.

Citigroup (NYSE:C - Get Free Report) last announced 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. The business had revenue of $24.63 billion during the quarter, compared to analyst estimates of $22.96 billion. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The company's quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.96 EPS. Research analysts expect that Citigroup Inc. will post 10.65 earnings per share for the current year.

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

Citigroup Dividend Announcement

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

Insider Transactions at Citigroup

In other Citigroup news, insider Edward Skyler sold 25,000 shares of the firm's 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 transaction, the insider directly owned 182,022 shares of the company's stock, valued at approximately $23,919,511.02. This trade represents a 12.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Cunningham Dugan sold 2,117 shares of the business's 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 sale, the director owned 12,194 shares of the company's stock, valued at approximately $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. 0.11% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

C has been the subject of a number of analyst reports. Wells Fargo & Company raised their target price on shares of Citigroup from $160.00 to $162.00 and gave the company an "overweight" rating in a research note on Wednesday, April 29th. Jefferies Financial Group assumed coverage on shares of Citigroup in a report on Thursday, March 26th. They set a "buy" rating and a $135.00 target price for the company. Weiss Ratings reissued a "buy (b)" rating on shares of Citigroup in a research report on Monday, April 20th. Keefe, Bruyette & Woods raised their price objective on Citigroup from $140.00 to $153.00 and gave the company an "outperform" rating in a research report on Friday, May 8th. Finally, Morgan Stanley lifted their price objective on Citigroup from $140.00 to $144.00 and gave the company an "overweight" rating in a research note on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $137.62.

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup plans to expand its Asia wealth business with a major hiring push, adding nearly 100 private bankers and 400 specialists to strengthen profitability. Citigroup to Accelerate Asia Wealth Expansion With Major Hiring Push
• Positive Sentiment: Citigroup was included among major U.S. banks that cleared key Fed and FDIC review of their 2025 living wills, easing regulatory concerns and supporting investor confidence in the sector. JPM, WFC & Others Clear Key Regulatory Hurdle on Living Wills
• Neutral Sentiment: Citi also continued to make analyst-related headlines elsewhere in the market, including a new Buy initiation on Alnylam Pharmaceuticals, but that does not directly affect Citigroup’s fundamentals. Citi Initiates Alnylam (ALNY) With Buy Rating

About Citigroup

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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