Trek Financial LLC Has $578,000 Stake in Citigroup Inc. $C

Key Points

• Trek Financial LLC cut its Citigroup stake by 89.5% in the fourth quarter, leaving it with 4,952 shares valued at about $578,000.
• Citigroup has seen mixed but generally positive institutional and analyst activity, including several major investors adding positions and analysts maintaining a Moderate Buy consensus with a target price of $137.62.
• The bank reported better-than-expected quarterly results and recently authorized a $30 billion share buyback, while also declaring a quarterly dividend of $0.60 per share.

Trek Financial LLC trimmed its holdings in Citigroup Inc. (NYSE:C - Free Report) by 89.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,952 shares of the company's stock after selling 42,343 shares during the period. Trek Financial LLC's holdings in Citigroup were worth $578,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Donaldson Capital Management LLC acquired a new stake in shares of Citigroup in the 3rd quarter valued at $58,994,000. 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 valued at $67,337,000 after purchasing an additional 98,082 shares in the last quarter. Gunderson Capital Management Inc. acquired a new stake in shares of Citigroup in the 4th quarter valued at $7,165,000. Brighton Jones LLC boosted its holdings in shares of Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after purchasing an additional 12,499 shares in the last quarter. Finally, Adell Harriman & Carpenter Inc. boosted its holdings in shares of Citigroup by 12.7% during the 3rd quarter. Adell Harriman & Carpenter Inc. now owns 102,255 shares of the company's stock valued at $10,379,000 after acquiring an additional 11,512 shares in the last quarter. Institutional investors own 71.72% of the company's stock.

Insider Activity at Citigroup

In related news, Director John Cunningham Dugan sold 2,117 shares of the business's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $125.30, for a total value of $265,260.10. Following the completion of the sale, the director directly owned 12,194 shares of the company's stock, valued at $1,527,908.20. The trade was a 14.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Cantu Ernesto Torres sold 43,173 shares of the business's stock in a transaction dated 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 sale, the insider directly owned 45,835 shares of the company's stock, valued at $5,091,810.15. The trade was a 48.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 94,435 shares of company stock valued at $11,030,074 in the last three months. Corporate insiders own 0.11% of the company's stock.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on C shares. The Goldman Sachs Group raised their price objective on Citigroup from $137.00 to $151.00 and gave the company a "buy" rating in a report on Wednesday, April 15th. Wells Fargo & Company lifted their target price on Citigroup from $160.00 to $162.00 and gave the stock an "overweight" rating in a report on Wednesday, April 29th. Truist Financial set a $147.00 target price on Citigroup in a report on Friday, May 1st. Evercore set a $139.00 price objective on Citigroup in a research report on Wednesday, April 15th. Finally, Barclays lifted their price objective on Citigroup from $146.00 to $154.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 15th. One equities 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 stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $137.62.

Citigroup Stock Performance

C stock opened at $124.10 on Thursday. Citigroup Inc. has a 1-year low of $71.65 and a 1-year high of $135.29. The firm has a market cap of $211.66 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 0.57 and a beta of 1.14. The stock has a 50-day moving average price of $118.98 and a 200-day moving average price of $113.79. 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 (NYSE:C - Get Free Report) last issued its earnings results on Tuesday, April 14th. The company reported $3.06 EPS 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 business had revenue of $24.63 billion during the quarter, compared to analyst estimates of $22.96 billion. During the same period in the previous year, the company posted $1.96 EPS. The firm's revenue was up 14.1% compared to the same quarter last year. As a group, equities research analysts expect that Citigroup Inc. will post 10.65 earnings per share for the current year.

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

Citigroup Dividend Announcement

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

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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