Key Points
- Citigroup director John Cunningham Dugan sold 2,117 shares on May 8 at an average price of $125.30, totaling about $265,260. The sale left him with 12,194 shares, a 14.79% reduction in his position.
- Citigroup recently reported stronger-than-expected quarterly results, with EPS of $3.06 versus $2.63 expected and revenue of $24.63 billion versus $22.96 billion expected. Revenue rose 14.1% year over year.
- The company also announced shareholder-friendly capital returns, including a quarterly dividend of $0.60 per share and a new $30 billion share buyback program. Analysts remain broadly positive, with an average rating of “Moderate Buy” and an average price target of $137.62.
Citigroup Inc. (NYSE:C - Get Free Report) 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 transaction of $265,260.10. Following the completion of the transaction, the director directly owned 12,194 shares of the company's stock, valued at approximately $1,527,908.20. This represents a 14.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Citigroup Trading Up 0.4%
NYSE C opened at $126.32 on Wednesday. The company has a fifty day simple moving average of $118.72 and a two-hundred day simple moving average of $113.60. The stock has a market cap of $215.45 billion, a P/E ratio of 15.65, a P/E/G ratio of 0.56 and a beta of 1.14. Citigroup Inc. has a 12-month low of $71.65 and a 12-month high of $135.29. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59.
Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.63 by $0.43. The business had revenue of $24.63 billion during the quarter, compared to analysts' expectations of $22.96 billion. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The business's quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the company posted $1.96 earnings per share. On average, analysts forecast that Citigroup Inc. will post 10.65 earnings per share for the current year.
Citigroup Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Monday, May 4th will be issued a $0.60 dividend. 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 (DPR) is currently 29.74%.
Citigroup declared that its board has initiated a share buyback program on Thursday, May 7th that authorizes the company to repurchase $30.00 billion in shares. This repurchase authorization authorizes the company to buy up to 13.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on C shares. Barclays raised their target price on shares of Citigroup from $146.00 to $154.00 and gave the stock an "overweight" rating in a report on Wednesday, April 15th. UBS Group reissued a "neutral" rating and set a $132.00 target price on shares of Citigroup in a report on Thursday, January 15th. Jefferies Financial Group started coverage on shares of Citigroup in a report on Thursday, March 26th. They set a "buy" rating and a $135.00 target price for the company. Piper Sandler reissued an "overweight" rating and set a $145.00 target price (up from $125.00) on shares of Citigroup in a report on Wednesday, April 15th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $139.00 target price on shares of Citigroup in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $137.62.
Get Our Latest Stock Report on C
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in C. Cora Capital Advisors LLC boosted its stake in Citigroup by 3.1% during the first 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 period. CFS Investment Advisory Services LLC boosted its stake in Citigroup by 0.4% during the first quarter. CFS Investment Advisory Services LLC now owns 20,596 shares of the company's stock valued at $2,336,000 after buying an additional 79 shares during the period. Verus Capital Partners LLC boosted its stake in Citigroup by 3.1% during the fourth quarter. Verus Capital Partners LLC now owns 2,748 shares of the company's stock valued at $321,000 after buying an additional 82 shares during the period. CFO Capital Management LLC boosted its stake in Citigroup by 1.5% during the first quarter. CFO Capital Management LLC now owns 5,495 shares of the company's stock valued at $590,000 after buying an additional 83 shares during the period. Finally, Elmwood Wealth Management Inc. boosted its stake in Citigroup by 1.3% during the fourth quarter. Elmwood Wealth Management Inc. now owns 6,845 shares of the company's stock valued at $799,000 after buying an additional 85 shares during the period. Hedge funds and other institutional investors own 71.72% of the company's stock.
Trending Headlines about Citigroup
Here are the key news stories impacting Citigroup this week:
- Positive Sentiment: Analysts said Citigroup’s strong earnings, excess capital, and active buybacks are supporting a robust capital return strategy, which is positive for shareholder value. What's Fueling Citigroup's Robust Capital Return Strategy?
- Positive Sentiment: Citigroup’s recent earnings report beat expectations on both profit and revenue, helping support investor confidence in the bank’s operating momentum.
- Neutral Sentiment: Citigroup disclosed routine participation notifications and a director stock sale, but neither item appears large enough to materially change the long-term investment thesis. SEC Director Sale Filing
- Neutral Sentiment: Citi strategists’ market commentary on US equities and the Kospi index reflects the firm’s broader research activity, but it is not a direct catalyst for Citigroup shares. Citi’s Manthey Says US Stock Outperformance Has Further to Run
- Negative Sentiment: Director John Cunningham Dugan sold 2,117 shares, a modest insider sale that could slightly weigh on sentiment even though the amount is not especially large.
Citigroup Company Profile
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
