Cobalt Capital Management Inc. Purchases Shares of 20,000 Citigroup Inc. $C

Cobalt Capital Management Inc. purchased a new stake in Citigroup Inc. (NYSE:C) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 20,000 shares of the company’s stock, valued at approximately $2,334,000. Citigroup accounts for about 1.0% of Cobalt Capital Management Inc.’s investment portfolio, making the stock its 20th largest position.

A number of other hedge funds also recently made changes to their positions in the stock. Truist Financial Corp boosted its stake in Citigroup by 4.7% during the 4th quarter. Truist Financial Corp now owns 375,977 shares of the company’s stock valued at $43,873,000 after purchasing an additional 16,744 shares during the period. Kovitz Investment Group Partners LLC boosted its stake 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 purchasing an additional 98,082 shares during the period. Gunderson Capital Management Inc. acquired 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 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 during the period. Finally, UniSuper Management Pty Ltd boosted its stake in Citigroup by 38.8% during the 4th quarter. UniSuper Management Pty Ltd now owns 1,306,851 shares of the company’s stock valued at $152,496,000 after purchasing an additional 365,041 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Trading activity showed unusually strong demand for Citigroup call options, suggesting investors are positioning for further upside in the stock.
• Positive Sentiment: Citigroup’s May consumer credit data was mixed but not alarming overall: card delinquencies declined, which may support the view that credit quality remains manageable. Article: Citigroup’s Card Delinquencies Decline, Charge-Offs Rise in May
• Positive Sentiment: The stock is still benefiting from recent momentum tied to strong earnings, restructuring progress, AI-related initiatives and share buybacks, which have helped push shares toward multi-year highs. Article: Citigroup Stock at Multi-Year High: Why Investors Should Stay Invested
• Neutral Sentiment: There was also a report that Citigroup had recently gone long on a more constructive market view via an economist’s call for Fed rate cuts, but this is more macro commentary than a direct company catalyst. Article: Citi chief US economist defends unpopular Fed rate-cut call
• Negative Sentiment: Two lawsuits tied to a former executive’s allegations over Trump-related client concerns and retaliation could create legal and reputational risk for Citigroup if the claims gain traction. Article: Citigroup faces lawsuit over alleged Trump-linked account issues

Wall Street Analysts Forecast Growth

C has been the subject of a number of analyst reports. Royal Bank Of Canada reissued an “outperform” rating and set a $139.00 target price on shares of Citigroup in a research note on Wednesday, April 15th. The Goldman Sachs Group boosted their target price on shares of Citigroup from $137.00 to $151.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Piper Sandler reissued an “overweight” rating and set a $145.00 target price (up from $125.00) on shares of Citigroup in a research note on Wednesday, April 15th. JPMorgan Chase & Co. boosted their price target on shares of Citigroup from $131.00 to $135.50 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, Wells Fargo & Company set a $165.00 price target on shares of Citigroup and gave the stock an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and a consensus target price of $137.79.

Citigroup Stock Up 0.5%

C stock opened at $143.74 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. The firm’s 50-day moving average is $128.94 and its two-hundred day moving average is $119.04. Citigroup Inc. has a 52 week low of $77.26 and a 52 week high of $146.54. The company has a market capitalization of $245.16 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12.

Citigroup (NYSE:C) last released its earnings results on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.63 by $0.43. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The business had revenue of $24.63 billion for the quarter, compared to the consensus estimate of $22.96 billion. During the same period in the previous year, the firm earned $1.96 EPS. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, analysts forecast that Citigroup Inc. will post 10.68 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Monday, May 4th. Citigroup’s payout ratio is presently 29.74%.

Citigroup declared that its board has authorized a stock repurchase program on Thursday, May 7th that permits the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 13.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related 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 directly owned 182,022 shares in the company, valued at $23,919,511.02. The trade was a 12.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Cunningham Dugan sold 2,117 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $125.30, for a total transaction of $265,260.10. Following the completion of the sale, the director owned 12,194 shares in the company, valued at $1,527,908.20. The trade was a 14.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.11% of the stock is owned by insiders.

Citigroup 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.