Heritage Investors Management Corp Has $34.56 Million Stock Position in Citigroup Inc. $C

Heritage Investors Management Corp decreased its position in shares of Citigroup Inc. (NYSE:C) by 2.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 296,197 shares of the company’s stock after selling 8,379 shares during the period. Heritage Investors Management Corp’s holdings in Citigroup were worth $34,563,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Richards Merrill & Peterson Inc. acquired a new stake in Citigroup during the fourth quarter valued at $28,000. Dunhill Financial LLC lifted its stake in shares of Citigroup by 92.2% in the 3rd quarter. Dunhill Financial LLC now owns 319 shares of the company’s stock valued at $32,000 after purchasing an additional 153 shares during the last quarter. Luken Investment Analytics LLC acquired a new stake in shares of Citigroup in the 4th quarter valued at $32,000. High Note Wealth LLC lifted its stake in shares of Citigroup by 107.7% in the 4th quarter. High Note Wealth LLC now owns 270 shares of the company’s stock valued at $32,000 after purchasing an additional 140 shares during the last quarter. Finally, Guerra Advisors Inc acquired a new stake in shares of Citigroup in the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup shareholders approved an expanded stock incentive plan at the company’s May 20 annual meeting, which should give management more flexibility to retain and motivate employees through equity compensation. Citigroup Shareholders Approve Expanded Stock Incentive Plan
• Positive Sentiment: Several commentary pieces highlighted Citigroup as undervalued or attractive for income-focused investors, reinforcing the view that the stock still has room to rerate after recent earnings improvement. 5 Most Undervalued US Stocks According to Hedge Funds Why Citigroup (C) is a Top Dividend Stock for Your Portfolio
• Neutral Sentiment: Citigroup also remained active in market commentary on India IPOs and currency controls, but these reports are more about its broader banking views than a direct business update for the company. Citi sees India IPOs hitting fresh records despite challenges Citi Sees India IPOs Hitting Fresh Records Despite Challenges
• Neutral Sentiment: There was also a report that Trump backed away from requiring banks to collect citizenship information, which slightly reduces regulatory overhang but does not materially change Citigroup’s near-term fundamentals. Trump backs down from idea of banks collecting citizenship information
• Negative Sentiment: On the other hand, Citi faced fresh governance scrutiny after a separate report said more shareholders voted against the bank’s say-on-pay proposal, signaling some dissatisfaction with executive compensation practices. More Citi shareholders vote ‘no’ on say-on-pay

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $145.00 price objective (up from $125.00) on shares of Citigroup in a research note on Wednesday, April 15th. Oppenheimer reaffirmed an “outperform” rating and issued a $145.00 price objective on shares of Citigroup in a research note on Friday, May 8th. Keefe, Bruyette & Woods lifted their price objective on shares of Citigroup from $140.00 to $153.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citigroup in a research note on Monday, April 20th. Finally, Morgan Stanley lifted their price objective on shares of Citigroup from $140.00 to $144.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.62.

Citigroup Trading Up 0.3%

Shares of NYSE:C opened at $125.19 on Friday. The company has a market cap of $213.51 billion, a P/E ratio of 15.51, a P/E/G ratio of 0.56 and a beta of 1.14. The stock’s 50-day moving average is $120.72 and its 200-day moving average is $114.77. Citigroup Inc. has a 52-week low of $71.65 and a 52-week high of $135.29. 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 issued its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.43. The company had revenue of $24.63 billion for the quarter, compared to the consensus estimate of $22.96 billion. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The firm’s revenue was up 14.1% compared to the same quarter last year. During the same period last year, the business posted $1.96 earnings per share. Equities research analysts predict that Citigroup Inc. will post 10.65 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Monday, May 4th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, May 4th. Citigroup’s dividend payout ratio (DPR) 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 shares. This buyback authorization authorizes the company to reacquire up to 13.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, insider Edward Skyler sold 25,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Cunningham Dugan sold 2,117 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $125.30, for a total transaction of $265,260.10. Following the transaction, the director directly owned 12,194 shares of the company’s stock, valued at $1,527,908.20. This represents a 14.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.11% of the company’s stock.

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.