MLP3 LLC Acquires Shares of 6,915 Citigroup Inc. $C

MLP3 LLC acquired a new stake in shares of Citigroup Inc. (NYSE:C) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 6,915 shares of the company’s stock, valued at approximately $807,000. Citigroup makes up about 0.9% of MLP3 LLC’s portfolio, making the stock its 26th biggest position.

Other large investors have also bought and sold shares of the company. Richards Merrill & Peterson Inc. bought a new stake in Citigroup during the 4th quarter valued at approximately $28,000. Luken Investment Analytics LLC bought a new stake in Citigroup during the 4th quarter valued at approximately $32,000. High Note Wealth LLC boosted its position in Citigroup by 107.7% during the 4th quarter. High Note Wealth LLC now owns 270 shares of the company’s stock valued at $32,000 after acquiring an additional 140 shares in the last quarter. Entrust Financial LLC purchased a new position in shares of Citigroup during the fourth quarter valued at approximately $34,000. Finally, Cornerstone Financial Management LLC purchased a new position in shares of Citigroup during the fourth quarter valued at approximately $34,000. 71.72% of the stock is owned by institutional investors.

Citigroup Price Performance

Shares of NYSE C opened at $139.68 on Monday. Citigroup Inc. has a twelve month low of $76.11 and a twelve month high of $141.12. The firm has a market cap of $238.23 billion, a P/E ratio of 17.31, a PEG ratio of 0.62 and a beta of 1.12. The company has a 50 day moving average of $127.34 and a 200 day moving average of $118.19. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.59.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.43. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The company had revenue of $24.63 billion during the quarter, compared to analyst estimates of $22.96 billion. During the same period in the previous year, the business earned $1.96 EPS. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, research analysts expect that Citigroup Inc. will post 10.68 EPS for the current fiscal year.

Citigroup announced that its board has approved a share repurchase 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 generally an indication that the company’s management believes its stock is undervalued.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Monday, May 4th. Citigroup’s payout ratio is presently 29.74%.

Insider Buying and Selling

In related news, insider Edward Skyler sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were 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 directly owned 182,022 shares in the company, valued at $23,919,511.02. The trade was a 12.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Cunningham Dugan sold 2,117 shares of the business’s stock in a transaction that occurred 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 owned 12,194 shares of the company’s stock, valued at approximately $1,527,908.20. The trade was a 14.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.11% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on C shares. The Goldman Sachs Group lifted their target price on shares of Citigroup from $137.00 to $151.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Oppenheimer reiterated an “outperform” rating and set a $145.00 target price on shares of Citigroup in a report on Friday, May 8th. Evercore set a $139.00 target price on shares of Citigroup in a report on Wednesday, April 15th. JPMorgan Chase & Co. lifted their target price on shares of Citigroup from $131.00 to $135.50 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, Barclays lifted their target price on shares of Citigroup from $146.00 to $154.00 and gave the company 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 assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently 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 launched tokenized Digital Depositary Receipts, creating a new blockchain-based way for clients to gain exposure to private companies and for issuers to tap liquidity, reinforcing Citi’s push into next-generation capital markets. Citigroup Is Rolling Out Tokenized Shares of Private Companies
• Positive Sentiment: Related coverage said Citi is expanding access to private markets with tokenized private-share trading, which could open a new fee-generating business line and strengthen its innovation story with large clients. Citigroup Expands Access to Private Markets With Tokenized Depositary Receipts
• Positive Sentiment: Trump praised Citigroup and CEO Jane Fraser as a top M&A adviser, which helped fuel momentum and reinforced confidence in Citi’s investment banking comeback. Citigroup shares outperform down market after Trump endorsement
• Positive Sentiment: Citi also continued building out its consumer and retail investment banking franchise with a new managing director hire, suggesting management is still investing in growth areas. Citi hires Ryan Beaupré as MD in consumer and retail investment banking push
• Neutral Sentiment: Citi completed the sale of its Polish consumer banking business, continuing its multi-year retreat from underperforming overseas markets. This supports simplification, but it also shows ongoing shrinkage in some international operations. Citi’s overseas retreat advances with sale of Polish business
• Neutral Sentiment: Reports that regulators are probing banks’ use of AI could raise compliance scrutiny for the sector, but there was no Citi-specific issue mentioned. Bank Regulators Probe Industry Use of AI

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.