43,744 Shares in Citigroup Inc. $C Acquired by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP acquired a new position in Citigroup Inc. (NYSE:C) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 43,744 shares of the company’s stock, valued at approximately $5,104,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Verus Capital Partners LLC lifted its holdings in shares of Citigroup by 3.1% during the 4th quarter. Verus Capital Partners LLC now owns 2,748 shares of the company’s stock valued at $321,000 after purchasing an additional 82 shares during the last quarter. Elmwood Wealth Management Inc. lifted its holdings in shares of Citigroup by 1.3% during the 4th quarter. Elmwood Wealth Management Inc. now owns 6,845 shares of the company’s stock valued at $799,000 after purchasing an additional 85 shares during the last quarter. Park Place Capital Corp lifted its holdings in shares of Citigroup by 16.7% during the 4th quarter. Park Place Capital Corp now owns 595 shares of the company’s stock valued at $69,000 after purchasing an additional 85 shares during the last quarter. D.B. Root & Company LLC lifted its holdings in shares of Citigroup by 2.8% during the 4th quarter. D.B. Root & Company LLC now owns 3,191 shares of the company’s stock valued at $372,000 after purchasing an additional 87 shares during the last quarter. Finally, Cornerstone Wealth Management LLC lifted its holdings in shares of Citigroup by 0.8% during the 4th quarter. Cornerstone Wealth Management LLC now owns 10,393 shares of the company’s stock valued at $1,213,000 after purchasing an additional 87 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup reshuffled senior leadership, naming Margo Pilic head of strategy, M&A, and investor relations, a move that could improve execution and simplify decision-making as CEO Jane Fraser continues the bank’s transformation. Citigroup Reshapes Leadership As It Pushes Into Tokenized Deposits
• Positive Sentiment: The bank is joining JPMorgan Chase, Bank of America, and other large lenders on a blockchain-based tokenized deposit network, signaling that Citi wants to stay competitive in next-generation payments and possibly benefit from lower-friction transaction infrastructure. JPMorgan, Citi and Big Banks Plan New Tokenized Deposit System to Answer Crypto
• Positive Sentiment: Investors are also responding to Citi’s growing use of AI in operations, including a document-review system that cuts account-opening review time from about an hour to 15 minutes, which may point to better efficiency and cost savings over time. Citi Used AI to Shrink a 60-Minute Document Review to 15 Minutes
• Neutral Sentiment: Citi also announced redemptions of $3.15 billion of notes due in 2027, a routine balance-sheet management move that does not appear to be a major catalyst on its own. Citigroup Announces $2.75 Billion Redemption…
• Neutral Sentiment: Several headlines about Citi’s stock becoming overextended and the broader market looking “frothy” may temper enthusiasm, but they read more like caution flags than direct negatives for the company’s fundamentals. The stock market is at its frothiest…

Analyst Upgrades and Downgrades

C has been the subject of several analyst reports. The Goldman Sachs Group increased their price objective on Citigroup from $137.00 to $151.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Zacks Research lowered Citigroup from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Oppenheimer reissued an “outperform” rating and set a $145.00 target price on shares of Citigroup in a research report on Friday, May 8th. Morgan Stanley boosted their target price on shares of Citigroup from $140.00 to $144.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Finally, Wall Street Zen raised shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. 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 company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $137.62.

Insiders Place Their Bets

In related news, insider Edward Skyler sold 25,000 shares of the firm’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $131.41, for a total value of $3,285,250.00. Following the completion of the transaction, the insider owned 182,022 shares in the company, valued at $23,919,511.02. This trade represents a 12.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John Cunningham Dugan sold 2,117 shares of Citigroup stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $125.30, for a total value of $265,260.10. Following the transaction, the director owned 12,194 shares of the company’s stock, valued at $1,527,908.20. The trade was a 14.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.11% of the company’s stock.

Citigroup Stock Performance

Shares of C stock opened at $132.62 on Friday. The firm has a market capitalization of $226.19 billion, a price-to-earnings ratio of 16.43, a price-to-earnings-growth ratio of 0.60 and a beta of 1.12. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.99 and a quick ratio of 0.99. The business has a fifty day moving average of $124.87 and a 200 day moving average of $116.75. Citigroup Inc. has a 1 year low of $76.11 and a 1 year high of $135.83.

Citigroup (NYSE:C) last issued its 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 company had revenue of $24.63 billion during the quarter, compared to analyst estimates of $22.96 billion. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the business posted $1.96 EPS. As a group, research analysts expect that Citigroup Inc. will post 10.68 earnings per share for the current year.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were paid a $0.60 dividend. The ex-dividend date was Monday, May 4th. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. Citigroup’s dividend payout ratio (DPR) is 29.74%.

Citigroup declared that its board has authorized 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 buy up to 13.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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.