Income Insurance Ltd Makes New Investment in Citigroup Inc. $C

Income Insurance Ltd bought a new stake in shares of Citigroup Inc. (NYSE:C) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 5,512 shares of the company’s stock, valued at approximately $643,000.

A number of other hedge funds have also recently made changes to their positions in C. Wolff Wiese Magana LLC boosted its position in shares of Citigroup by 87.6% in the 3rd quarter. Wolff Wiese Magana LLC now owns 257 shares of the company’s stock worth $26,000 after purchasing an additional 120 shares in the last quarter. Richards Merrill & Peterson Inc. bought a new stake in shares of Citigroup in the 4th quarter worth approximately $28,000. Dunhill Financial LLC boosted its position in shares of Citigroup by 92.2% in the 3rd quarter. Dunhill Financial LLC now owns 319 shares of the company’s stock worth $32,000 after purchasing an additional 153 shares in the last quarter. Luken Investment Analytics LLC bought a new stake in shares of Citigroup in the 4th quarter worth approximately $32,000. Finally, Guerra Advisors Inc bought a new stake in shares of Citigroup in the 3rd quarter worth approximately $33,000. 71.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on C shares. Wall Street Zen raised Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Research cut Citigroup from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Barclays boosted their price target on Citigroup from $146.00 to $154.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Evercore set a $139.00 price target on Citigroup in a research report on Wednesday, April 15th. Finally, Keefe, Bruyette & Woods boosted their price target on Citigroup from $140.00 to $153.00 and gave the stock an “outperform” rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and a consensus price target of $137.62.

Citigroup Price Performance

Shares of NYSE C opened at $125.52 on Friday. Citigroup Inc. has a twelve month low of $71.29 and a twelve month high of $135.29. The firm has a market cap of $215.26 billion, a P/E ratio of 15.55, a PEG ratio of 0.56 and a beta of 1.14. The company has a 50 day moving average of $117.98 and a 200 day moving average of $113.01. The company has a quick ratio of 1.00, a current ratio of 0.99 and a debt-to-equity ratio of 1.59.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 earnings per share 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 company had revenue of $24.63 billion during the quarter, compared to analyst estimates of $22.96 billion. During the same period in the previous year, the business earned $1.96 EPS. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, research analysts expect that Citigroup Inc. will post 10.65 EPS for the current fiscal year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, May 4th. Citigroup’s payout ratio is presently 29.74%.

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

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup unveiled a new $30 billion share buyback plan, a strong signal that management sees the stock as undervalued and has confidence in its capital position. RTT News
• Positive Sentiment: The company set a profitability target of 11% to 13% adjusted return on tangible common equity for 2027-2028, with further improvement expected by 2031, reinforcing the turnaround story. Reuters
• Positive Sentiment: Keefe, Bruyette & Woods raised its price target on Citigroup to $153 from $140 and kept an outperform rating, showing Wall Street still sees meaningful upside. Benzinga
• Neutral Sentiment: CEO Jane Fraser said the global economy remains resilient, but warned that the market may not yet fully understand the second- and third-order effects of the Iran war and ongoing inflation pressures. YouTube/CNBC
• Negative Sentiment: Some investors viewed the new profit targets as too modest, suggesting Citigroup may still trail peers longer than hoped despite the overhaul. Quartz

Insider Buying and Selling

In related news, insider Cantu Ernesto Torres sold 43,173 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $111.09, for a total value of $4,796,088.57. Following the completion of the transaction, the insider directly owned 45,835 shares in the company, valued at $5,091,810.15. The trade was a 48.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edward Skyler sold 25,000 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $131.41, for a total transaction of $3,285,250.00. Following the sale, the insider owned 182,022 shares of the company’s stock, valued at approximately $23,919,511.02. This represents a 12.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 92,318 shares of company stock valued at $10,764,814. 0.11% of the stock is owned by company insiders.

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.