Virtu Financial LLC Buys Shares of 19,504 Citigroup Inc. $C

Key Points

• Virtu Financial LLC opened a new position in Citigroup during the fourth quarter, buying 19,504 shares valued at about $2.28 million.
• Citigroup has seen continued institutional interest, with several other investors adding or increasing stakes, and institutions now own 71.72% of the stock.
• The bank remains supported by positive fundamentals and analyst sentiment: it beat quarterly EPS and revenue estimates, has a consensus Moderate Buy rating, and recently announced a $30 billion share repurchase program.

Virtu Financial LLC bought a new position in Citigroup Inc. (NYSE:C - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 19,504 shares of the company's stock, valued at approximately $2,276,000.

A number of other large investors have also made changes to their positions in C. Mcguire Capital Advisors Inc. bought a new position in shares of Citigroup in the 4th quarter worth approximately $25,000. Richards Merrill & Peterson Inc. bought a new stake in Citigroup during the fourth quarter valued at approximately $28,000. Dunhill Financial LLC grew its position in Citigroup by 92.2% during the third quarter. Dunhill Financial LLC now owns 319 shares of the company's stock valued at $32,000 after buying an additional 153 shares during the period. Luken Investment Analytics LLC purchased a new stake in Citigroup during the fourth quarter valued at approximately $32,000. Finally, High Note Wealth LLC increased its holdings in Citigroup by 107.7% during the fourth quarter. High Note Wealth LLC now owns 270 shares of the company's stock valued at $32,000 after buying an additional 140 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup News Roundup

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

C has been the topic of several recent research reports. Keefe, Bruyette & Woods increased 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. Oppenheimer reissued an "outperform" rating and set a $145.00 price objective on shares of Citigroup in a research report on Friday, May 8th. Wall Street Zen upgraded Citigroup from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. raised their target price on Citigroup from $131.00 to $135.50 and gave the stock an "overweight" rating in a report on Thursday, April 30th. 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 issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $137.79.

Insiders Place Their Bets

In related news, Director John Cunningham Dugan sold 2,117 shares of Citigroup stock in a transaction on 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 owned 12,194 shares in the company, valued at approximately $1,527,908.20. The trade was a 14.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edward Skyler sold 25,000 shares of the company's stock in a transaction on Wednesday, April 15th. The stock was 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 of the company's stock, valued at $23,919,511.02. This represents a 12.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.11% of the stock is currently owned by insiders.

Citigroup Price Performance

NYSE C opened at $143.37 on Friday. Citigroup Inc. has a 12 month low of $77.50 and a 12 month high of $147.96. The stock has a market cap 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's 50 day moving average is $129.86 and its two-hundred day moving average is $119.49. 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 quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.43. The business had revenue of $24.63 billion for the quarter, compared to the consensus estimate of $22.96 billion. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The company's revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.96 earnings per share. As a group, research analysts anticipate that Citigroup Inc. will post 10.72 earnings per share for the current year.

Citigroup Announces Dividend

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

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

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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