OP Asset Management Ltd Acquires New Holdings in Citigroup Inc. $C

OP Asset Management Ltd acquired a new position in Citigroup Inc. (NYSE:C) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 186,917 shares of the company’s stock, valued at approximately $21,198,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of C. Mcguire Capital Advisors Inc. bought a new stake in shares of Citigroup during the 4th quarter worth about $25,000. Richards Merrill & Peterson Inc. bought a new position in shares of Citigroup in the fourth quarter valued at approximately $28,000. TD Capital Management LLC acquired a new position in shares of Citigroup during the fourth quarter valued at approximately $28,000. Luken Investment Analytics LLC bought a new stake in Citigroup during the fourth quarter worth approximately $32,000. Finally, High Note Wealth LLC raised its holdings in Citigroup by 107.7% during the fourth quarter. High Note Wealth LLC now owns 270 shares of the company’s stock worth $32,000 after purchasing an additional 140 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: U.S. regulators said the biggest banks, including Citigroup, passed the Federal Reserve’s annual stress test, which should support capital returns such as share buybacks and dividends. Big Banks Pass Fed Stress Test, Paving Way for Payouts
• Positive Sentiment: The Fed also said major banks could absorb severe recession losses and keep lending, reinforcing the view that the sector remains well capitalized and resilient. Big Banks Can Weather Severe Recession, Fed Says, in Unusual Year for Stress Tests
• Neutral Sentiment: Market chatter around Citigroup continues to highlight improved sentiment on its earnings outlook, better capital-return expectations, and analyst price targets clustering around the mid-$140s, though some institutional holders have trimmed positions recently. Citigroup Stock (C) Opinions on Market Positioning and Earnings Outlook
• Neutral Sentiment: Citigroup also appeared in deal-making news as it is helping advise on the planned public listing of Egyptian digital bank MNT-Halan, which adds to its investment-banking pipeline but is not likely a major immediate stock driver. Egyptian Digital Bank MNT-Halan Plans to Go Public

Citigroup Price Performance

NYSE C opened at $143.84 on Thursday. Citigroup Inc. has a 1 year low of $81.07 and a 1 year high of $147.96. The business’s fifty day moving average is $131.05 and its two-hundred day moving average is $120.43. The stock has a market capitalization of $245.33 billion, a P/E ratio of 17.82, a P/E/G ratio of 0.63 and a beta of 1.12. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99.

Citigroup (NYSE:C) last released its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.43. The business had revenue of $24.63 billion during the quarter, compared to analyst estimates of $22.96 billion. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The company’s revenue was up 14.1% compared to the same quarter last year. During the same period last year, the company posted $1.96 EPS. On average, research analysts forecast that Citigroup Inc. will post 10.72 earnings per share for the current fiscal year.

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

Citigroup Dividend Announcement

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

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 shares were sold at an average price of $125.30, for a total value of $265,260.10. Following the completion of the transaction, the director directly owned 12,194 shares in the company, valued at $1,527,908.20. This trade represents a 14.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Edward Skyler sold 25,000 shares of Citigroup stock in a transaction that occurred 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 in the company, valued at approximately $23,919,511.02. This trade represents a 12.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Barclays increased their price target on Citigroup from $146.00 to $154.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Truist Financial set a $147.00 price objective on Citigroup in a report on Friday, May 1st. The Goldman Sachs Group raised their target price on Citigroup from $137.00 to $151.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citigroup in a report on Monday, April 20th. Finally, Jefferies Financial Group started coverage on shares of Citigroup in a research report on Thursday, March 26th. They issued a “buy” rating and a $135.00 price target on the stock. 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $137.79.

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.