Citigroup (NYSE:C) Director Sells $265,260.10 in Stock

Citigroup Inc. (NYSE:C) Director John Cunningham Dugan sold 2,117 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $125.30, for a total value of $265,260.10. Following the completion of the sale, the director directly owned 12,194 shares of the company’s stock, valued at approximately $1,527,908.20. This trade represents a 14.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Citigroup Stock Up 0.4%

Shares of Citigroup stock traded up $0.47 during midday trading on Tuesday, hitting $126.32. The company’s stock had a trading volume of 9,934,180 shares, compared to its average volume of 14,280,994. The firm has a market capitalization of $216.63 billion, a P/E ratio of 15.65, a PEG ratio of 0.56 and a beta of 1.14. The stock has a 50-day simple moving average of $118.40 and a 200-day simple moving average of $113.39. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.59. Citigroup Inc. has a 1-year low of $71.65 and a 1-year high of $135.29.

Citigroup (NYSE:C) last released its quarterly earnings data 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 return on equity of 9.19% and a net margin of 9.35%.The firm had revenue of $24.63 billion for the quarter, compared to the consensus estimate of $22.96 billion. During the same quarter in the prior year, the company posted $1.96 earnings per share. The firm’s revenue was up 14.1% on a year-over-year basis. As a group, sell-side analysts expect that Citigroup Inc. will post 10.65 earnings per share for the current year.

Citigroup Dividend Announcement

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

Citigroup declared that its Board of Directors has approved a share buyback plan on Thursday, May 7th that authorizes the company to buyback $30.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 13.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Citigroup

Several hedge funds have recently added to or reduced their stakes in C. Whipplewood Advisors LLC bought a new stake in Citigroup during the 1st quarter valued at approximately $25,000. Mcguire Capital Advisors Inc. bought a new stake in Citigroup during the 4th quarter valued at approximately $25,000. Wolff Wiese Magana LLC boosted its stake in Citigroup by 87.6% during the 3rd quarter. Wolff Wiese Magana LLC now owns 257 shares of the company’s stock valued at $26,000 after purchasing an additional 120 shares during the period. Richards Merrill & Peterson Inc. bought a new stake in Citigroup during the 4th quarter valued at approximately $28,000. Finally, TD Capital Management LLC bought a new stake in Citigroup during the 4th quarter valued at approximately $28,000. Institutional investors own 71.72% of the company’s stock.

Analysts Set New Price Targets

C has been the topic of a number of analyst reports. Wells Fargo & Company increased their price objective on Citigroup from $160.00 to $162.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Evercore set a $139.00 price objective on Citigroup in a report on Wednesday, April 15th. Barclays increased their price objective on Citigroup from $146.00 to $154.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Royal Bank Of Canada reissued an “outperform” rating and set a $139.00 price objective on shares of Citigroup in a report on Wednesday, April 15th. Finally, Jefferies Financial Group started coverage on shares of Citigroup in a research report on Thursday, March 26th. They set a “buy” rating and a $135.00 target price for the company. One 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $137.62.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup’s capital return story looks attractive, with recent coverage highlighting strong earnings, excess capital, and ongoing buybacks that could support shareholder returns and earnings per share. What’s Fueling Citigroup’s Robust Capital Return Strategy?
• Positive Sentiment: A MarketBeat analysis noted Citigroup was in a “buy zone,” suggesting technical traders may see favorable setup after the stock’s strong run and recent consolidation. With Citigroup In A Buy Zone, This Bullish Spread Looks Attractive
• Neutral Sentiment: Citigroup also disclosed routine participation notifications and a director stock sale by John Cunningham Dugan, which can add a little overhang but is not necessarily a major fundamental concern. Participation notifications by Citigroup Inc.
• Neutral Sentiment: Citigroup’s own market outlook remains active in the news, but recent strategist commentary about U.S. stock outperformance and overseas market themes is more relevant to Citi’s research franchise than to near-term earnings. Citi’s Manthey Says US Stock Outperformance Has Further to Run
• Negative Sentiment: Director John Cunningham Dugan sold 2,117 shares at an average price of $125.30, a modest insider sale that may be read as a mild signal of caution by some investors. SEC filing

Citigroup Company 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.