Sapient Capital LLC Acquires 4,264 Shares of Citigroup Inc. $C

Sapient Capital LLC raised its holdings in Citigroup Inc. (NYSE:C) by 214.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,256 shares of the company’s stock after acquiring an additional 4,264 shares during the period. Sapient Capital LLC’s holdings in Citigroup were worth $709,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Cora Capital Advisors LLC raised its position in Citigroup by 3.1% in the 1st quarter. Cora Capital Advisors LLC now owns 2,609 shares of the company’s stock valued at $296,000 after buying an additional 78 shares during the last quarter. CFS Investment Advisory Services LLC boosted its holdings in Citigroup by 0.4% during the first quarter. CFS Investment Advisory Services LLC now owns 20,596 shares of the company’s stock worth $2,336,000 after purchasing an additional 79 shares during the last quarter. Verus Capital Partners LLC grew its position in Citigroup by 3.1% in the fourth quarter. Verus Capital Partners LLC now owns 2,748 shares of the company’s stock valued at $321,000 after purchasing an additional 82 shares in the last quarter. CFO Capital Management LLC grew its holdings in shares of Citigroup by 1.5% in the 1st quarter. CFO Capital Management LLC now owns 5,495 shares of the company’s stock valued at $590,000 after acquiring an additional 83 shares in the last quarter. Finally, D.B. Root & Company LLC grew its holdings 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 valued at $372,000 after acquiring an additional 87 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Citigroup

In other news, Director John Cunningham Dugan sold 2,117 shares of the firm’s stock in a transaction that occurred on 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 directly owned 12,194 shares in the company, valued at approximately $1,527,908.20. This trade represents a 14.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.11% of the company’s stock.

Citigroup Stock Up 0.8%

Shares of NYSE C opened at $133.51 on Tuesday. Citigroup Inc. has a 52 week low of $89.68 and a 52 week high of $147.96. The stock’s fifty day moving average is $135.99 and its 200 day moving average is $124.33. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $227.72 billion, a P/E ratio of 14.42, a PEG ratio of 0.60 and a beta of 1.12.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.74 by $0.41. The company had revenue of $24.75 billion during the quarter, compared to the consensus estimate of $23.74 billion. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.96 EPS. Sell-side analysts forecast that Citigroup Inc. will post 11.2 earnings per share for the current fiscal year.

Citigroup announced that its Board of Directors has approved a share buyback plan 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 shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, August 3rd will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.0%. This is an increase from Citigroup’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, August 3rd. Citigroup’s dividend payout ratio (DPR) is currently 25.92%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on C shares. UBS Group cut their price objective on Citigroup from $150.00 to $142.00 and set a “neutral” rating for the company in a report on Monday. Bank of America boosted their price objective on shares of Citigroup from $170.00 to $176.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citigroup in a report on Friday, July 17th. Truist Financial decreased their target price on Citigroup from $158.00 to $154.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. Finally, Wall Street Zen raised shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $145.22.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup hired Bank of America veteran Rohan Sen to lead technology-services coverage in its investment-banking division. The appointment supports Citi’s broader investment-banking hiring push and could help expand fee-generating advisory and capital-markets activity. Citi Recruits Bank of America Vet Rohan Sen Amid Investment Banking Hiring Spree
• Positive Sentiment: Citi, American Airlines and Mastercard unveiled enhanced benefits for the Citi/AAdvantage Executive World Elite Mastercard, including Admirals Club access and a faster path to airline status. The refresh may improve card acquisition, customer retention and credit-card revenue. American Airlines and Citi Elevate Premium Travel With Enhanced Citi / AAdvantage Executive World Legend Mastercard
• Neutral Sentiment: Citi strategists said a stronger yen could lift other Asian currencies, highlighting the bank’s ongoing influence in global foreign-exchange research. The commentary is unlikely to materially change Citi’s earnings outlook but reinforces its market presence. Yen Surge Will Drive Up Other Asian Currencies, Strategists Say
• Neutral Sentiment: Citi is reportedly playing a larger role in hedging risks associated with leveraged ETFs and discussions surrounding Treasury participation in the repo market. The developments could create trading opportunities, but they also place greater attention on the bank’s funding, derivatives and financial-stability exposures. Citigroup Takes On A Bigger Role In Leveraged ETF Risk
• Negative Sentiment: Citi’s $0.67-per-share dividend went ex-dividend on August 3. While the payment supports the shareholder-return story, the ex-dividend adjustment can temporarily weigh on the stock and reduces near-term trading support. Citigroup Inc’s Dividend Analysis

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.