Los Angeles Capital Management LLC Has $118.40 Million Stock Position in Citigroup Inc. $C

Los Angeles Capital Management LLC reduced its position in shares of Citigroup Inc. (NYSE:C) by 9.8% in the 4th quarter, Holdings Channel reports. The firm owned 1,014,644 shares of the company’s stock after selling 109,754 shares during the period. Los Angeles Capital Management LLC’s holdings in Citigroup were worth $118,399,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in C. Richards Merrill & Peterson Inc. acquired a new position in Citigroup during the fourth quarter valued at approximately $28,000. Dunhill Financial LLC raised its position in Citigroup by 92.2% during the third quarter. Dunhill Financial LLC now owns 319 shares of the company’s stock valued at $32,000 after purchasing an additional 153 shares in the last quarter. Luken Investment Analytics LLC acquired a new position in Citigroup during the fourth quarter valued at approximately $32,000. High Note Wealth LLC raised its position in Citigroup by 107.7% during the fourth quarter. High Note Wealth LLC now owns 270 shares of the company’s stock valued at $32,000 after purchasing an additional 140 shares in the last quarter. Finally, Entrust Financial LLC acquired a new position in Citigroup during the fourth quarter valued at approximately $34,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Down 1.9%

Shares of NYSE:C opened at $132.62 on Friday. The company has a fifty day moving average of $124.87 and a 200-day moving average of $116.75. The company has a market capitalization of $226.19 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 0.59 and a beta of 1.12. 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 Inc. has a 52-week low of $76.11 and a 52-week high of $135.83.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.43. The company had revenue of $24.63 billion during the quarter, compared to the consensus estimate of $22.96 billion. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.96 earnings per share. On average, equities analysts predict that Citigroup Inc. will post 10.68 EPS for the current fiscal year.

Citigroup announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 7th that allows the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 13.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Citigroup Announces Dividend

The firm also recently disclosed 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 of this dividend was Monday, May 4th. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. Citigroup’s payout ratio is currently 29.74%.

Insider Buying and Selling at Citigroup

In related news, Director John Cunningham Dugan sold 2,117 shares of the business’s stock in a transaction 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Edward Skyler sold 25,000 shares of the business’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $131.41, for a total transaction of $3,285,250.00. Following the completion of the sale, the insider directly owned 182,022 shares in the company, valued at approximately $23,919,511.02. This represents a 12.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Citigroup in a research report on Monday, April 20th. Piper Sandler reiterated an “overweight” rating and set a $145.00 price target (up from $125.00) on shares of Citigroup in a report on Wednesday, April 15th. Keefe, Bruyette & Woods upped their price target on shares of Citigroup from $140.00 to $153.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. JPMorgan Chase & Co. upped their price target on shares of Citigroup from $131.00 to $135.50 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Finally, Barclays upped their price target on shares of Citigroup from $146.00 to $154.00 and gave the stock an “overweight” rating 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, Citigroup has an average rating of “Moderate Buy” and a consensus price target of $137.62.

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…

About Citigroup

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.