Rathbones Group PLC Sells 6,111 Shares of Citigroup Inc. $C

Rathbones Group PLC lowered its holdings in Citigroup Inc. (NYSE:C) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 172,172 shares of the company’s stock after selling 6,111 shares during the quarter. Rathbones Group PLC’s holdings in Citigroup were worth $20,091,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of C. Vanguard Group Inc. raised its holdings in shares of Citigroup by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company’s stock valued at $19,048,467,000 after purchasing an additional 4,938,923 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Citigroup by 17.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 28,125,995 shares of the company’s stock valued at $2,854,788,000 after purchasing an additional 4,211,099 shares in the last quarter. Capital World Investors raised its holdings in shares of Citigroup by 6.5% in the 3rd quarter. Capital World Investors now owns 47,262,626 shares of the company’s stock valued at $4,797,292,000 after purchasing an additional 2,871,074 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Citigroup by 6,172.0% in the 3rd quarter. Bessemer Group Inc. now owns 2,904,795 shares of the company’s stock valued at $294,838,000 after buying an additional 2,858,481 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Citigroup by 291.4% in the 4th quarter. SG Americas Securities LLC now owns 1,319,549 shares of the company’s stock valued at $153,978,000 after buying an additional 2,008,946 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Insider Activity at Citigroup

In related news, Director John Cunningham Dugan sold 2,117 shares of the 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 completion of the transaction, the director directly owned 12,194 shares of the company’s stock, valued at $1,527,908.20. This trade represents a 14.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Edward Skyler sold 25,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 182,022 shares of the company’s stock, valued at $23,919,511.02. The trade was 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.

Citigroup Stock Performance

Shares of Citigroup stock opened at $125.19 on Friday. The firm has a market capitalization of $213.51 billion, a P/E ratio of 15.51, a PEG ratio of 0.56 and a beta of 1.14. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.59. The company has a 50 day moving average price of $120.72 and a 200 day moving average price of $114.77. Citigroup Inc. has a 52 week low of $71.65 and a 52 week high of $135.29.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, beating the consensus estimate of $2.63 by $0.43. The firm had revenue of $24.63 billion during the quarter, compared to analyst estimates of $22.96 billion. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. Citigroup’s revenue was up 14.1% on a year-over-year basis. During the same period last year, the firm posted $1.96 EPS. Sell-side analysts expect that Citigroup Inc. will post 10.65 EPS for the current year.

Citigroup declared that its board has initiated a share repurchase program on Thursday, May 7th that allows the company to buyback $30.00 billion in shares. This buyback authorization allows the company to purchase up to 13.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors 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 presently 29.74%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on C. Truist Financial set a $147.00 price target on shares of Citigroup in a report on Friday, May 1st. JPMorgan Chase & Co. raised their price target on shares of Citigroup from $131.00 to $135.50 and gave the company an “overweight” rating in a report on Thursday, April 30th. Evercore set a $139.00 price target on shares of Citigroup in a report on Wednesday, April 15th. Jefferies Financial Group began coverage on shares of Citigroup in a report on Thursday, March 26th. They issued a “buy” rating and a $135.00 price target on the stock. Finally, Oppenheimer restated an “outperform” rating and issued a $145.00 price target on shares of Citigroup in a report on Friday, May 8th. One 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $137.62.

Key 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

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.