Havemeyer Place LP Invests $2.53 Million in Citigroup Inc. $C

Havemeyer Place LP purchased a new position in Citigroup Inc. (NYSE:C) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 21,706 shares of the company’s stock, valued at approximately $2,533,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Verus Capital Partners LLC boosted its stake in shares of Citigroup by 3.1% in the 4th quarter. Verus Capital Partners LLC now owns 2,748 shares of the company’s stock worth $321,000 after buying an additional 82 shares during the last quarter. Elmwood Wealth Management Inc. boosted its stake in shares of Citigroup by 1.3% in the 4th quarter. Elmwood Wealth Management Inc. now owns 6,845 shares of the company’s stock worth $799,000 after buying an additional 85 shares during the last quarter. Park Place Capital Corp boosted its stake in shares of Citigroup by 16.7% in the 4th quarter. Park Place Capital Corp now owns 595 shares of the company’s stock worth $69,000 after buying an additional 85 shares during the last quarter. D.B. Root & Company LLC boosted its stake in shares of Citigroup by 2.8% in the 4th quarter. D.B. Root & Company LLC now owns 3,191 shares of the company’s stock worth $372,000 after buying an additional 87 shares during the last quarter. Finally, Cornerstone Wealth Management LLC boosted its stake in shares of Citigroup by 0.8% in the 4th quarter. Cornerstone Wealth Management LLC now owns 10,393 shares of the company’s stock worth $1,213,000 after buying an additional 87 shares during the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 2,117 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $125.30, for a total transaction of $265,260.10. Following the sale, the director directly owned 12,194 shares of the company’s stock, valued at $1,527,908.20. This trade represents a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Edward Skyler sold 25,000 shares of the firm’s stock in a transaction dated 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 directly owned 182,022 shares in the company, valued at approximately $23,919,511.02. This represents a 12.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.11% of the stock is owned by company insiders.

Citigroup Price Performance

Shares of Citigroup stock opened at $132.62 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99. The stock’s fifty day moving average is $124.87 and its 200 day moving average is $116.75. The stock has a market cap of $226.19 billion, a P/E ratio of 16.43, a P/E/G ratio of 0.59 and a beta of 1.12. Citigroup Inc. has a one year low of $76.11 and a one year high of $135.83.

Citigroup (NYSE:C) last posted its quarterly 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. The business had revenue of $24.63 billion for the quarter, compared to analysts’ expectations of $22.96 billion. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the firm earned $1.96 earnings per share. Sell-side analysts anticipate that Citigroup Inc. will post 10.68 earnings per share for the current year.

Citigroup announced that its Board of Directors has initiated a stock buyback program on Thursday, May 7th that permits the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 13.7% of its shares through open market purchases. Shares repurchase programs are typically a sign 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. Shareholders of record on Monday, May 4th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. Citigroup’s dividend payout ratio (DPR) is currently 29.74%.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup reshuffled senior leadership, naming Margo Pilic head of strategy, M&A, and investor relations, a move that could improve execution and simplify decision-making as CEO Jane Fraser continues the bank’s transformation. Citigroup Reshapes Leadership As It Pushes Into Tokenized Deposits
• Positive Sentiment: The bank is joining JPMorgan Chase, Bank of America, and other large lenders on a blockchain-based tokenized deposit network, signaling that Citi wants to stay competitive in next-generation payments and possibly benefit from lower-friction transaction infrastructure. JPMorgan, Citi and Big Banks Plan New Tokenized Deposit System to Answer Crypto
• Positive Sentiment: Investors are also responding to Citi’s growing use of AI in operations, including a document-review system that cuts account-opening review time from about an hour to 15 minutes, which may point to better efficiency and cost savings over time. Citi Used AI to Shrink a 60-Minute Document Review to 15 Minutes
• Neutral Sentiment: Citi also announced redemptions of $3.15 billion of notes due in 2027, a routine balance-sheet management move that does not appear to be a major catalyst on its own. Citigroup Announces $2.75 Billion Redemption…
• Neutral Sentiment: Several headlines about Citi’s stock becoming overextended and the broader market looking “frothy” may temper enthusiasm, but they read more like caution flags than direct negatives for the company’s fundamentals. The stock market is at its frothiest…

Analyst Upgrades and Downgrades

C has been the topic of a number of research reports. Wells Fargo & Company raised their price target on Citigroup from $160.00 to $162.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Morgan Stanley raised their target price on Citigroup from $140.00 to $144.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Zacks Research cut Citigroup from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. The Goldman Sachs Group raised their target price on Citigroup from $137.00 to $151.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Finally, Truist Financial set a $147.00 target price on Citigroup in a report on Friday, May 1st. 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.62.

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.