Godfrey Financial Associates Inc. Makes New $496,000 Investment in Citigroup Inc. $C

Godfrey Financial Associates Inc. acquired a new position in shares of Citigroup Inc. (NYSE:C) during the fourth quarter, Holdings Channel reports. The fund acquired 4,250 shares of the company’s stock, valued at approximately $496,000.

Other hedge funds have also recently bought and sold shares of the company. Richards Merrill & Peterson Inc. purchased a new position in Citigroup during the 4th quarter worth $28,000. Dunhill Financial LLC boosted its holdings in Citigroup by 92.2% during the 3rd quarter. Dunhill Financial LLC now owns 319 shares of the company’s stock worth $32,000 after acquiring an additional 153 shares during the last quarter. Luken Investment Analytics LLC purchased a new position in shares of Citigroup in the 4th quarter worth about $32,000. High Note Wealth LLC boosted its holdings in shares of Citigroup by 107.7% in the 4th quarter. High Note Wealth LLC now owns 270 shares of the company’s stock worth $32,000 after buying an additional 140 shares during the last quarter. Finally, Guerra Advisors Inc purchased a new position in shares of Citigroup in the 3rd quarter worth about $33,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Recent coverage highlights Citigroup’s ongoing turnaround under CEO Jane Fraser, with the bank posting decade-high revenue, cutting costs through layoffs and market exits, and restoring investor confidence. Citi’s 5-year comeback: How CEO Jane Fraser turned the bank’s chronic underperformance into decade-high revenue
• Positive Sentiment: Another report says Citigroup’s recent funding activity, living-will approval, and expansion in Asian wealth and private credit suggest a healthier business mix and cleaner regulatory profile. How New Funding, Living Will Approval, and Asian Wealth Push At Citigroup (C) Has Changed Its Investment Story
• Neutral Sentiment: Wall Street commentary also remained constructive, with brokers continuing to view Citigroup as a stock worth owning, though the article was more about analyst-process than a new rating change. Brokers Suggest Investing in Citigroup (C): Read This Before Placing a Bet
• Neutral Sentiment: Citigroup’s stock also moved in line with a broader macro backdrop, as Fed commentary kept rate expectations in focus; that tends to affect bank stocks because it influences net interest income outlooks. Fed’s Cook says she is prepared to raise rates if inflation doesn’t ease

Insider Activity at Citigroup

In other news, insider Edward Skyler sold 25,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider owned 182,022 shares of the company’s stock, valued at $23,919,511.02. The trade was a 12.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $265,260.10. Following the sale, the director owned 12,194 shares in the company, valued at approximately $1,527,908.20. This represents a 14.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on C. Piper Sandler reissued an “overweight” rating and issued a $145.00 price target (up from $125.00) on shares of Citigroup in a report on Wednesday, April 15th. Wells Fargo & Company boosted their price target on shares of Citigroup from $160.00 to $162.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Wall Street Zen raised shares of Citigroup from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Truist Financial set a $147.00 price target on shares of Citigroup in a report on Friday, May 1st. Finally, Zacks Research downgraded shares of Citigroup from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. One 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $137.62.

Citigroup Stock Performance

NYSE C opened at $125.31 on Thursday. The company’s 50 day moving average is $122.21 and its 200-day moving average is $115.45. Citigroup Inc. has a 12-month low of $74.30 and a 12-month high of $135.29. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.59. The firm has a market cap of $213.72 billion, a P/E ratio of 15.53, a price-to-earnings-growth ratio of 0.57 and a beta of 1.14.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.43. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The company had revenue of $24.63 billion for the quarter, compared to analyst estimates of $22.96 billion. During the same quarter in the previous year, the firm posted $1.96 earnings per share. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. Sell-side analysts predict that Citigroup Inc. will post 10.68 earnings per share for the current year.

Citigroup announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 7th that authorizes the company to buyback $30.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 13.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were given a $0.60 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $2.40 annualized dividend and a dividend yield of 1.9%. Citigroup’s payout ratio is 29.74%.

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.