ProShare Advisors LLC Purchases 6,339 Shares of Citigroup Inc. $C

ProShare Advisors LLC boosted its position in Citigroup Inc. (NYSE:C) by 1.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 399,294 shares of the company’s stock after acquiring an additional 6,339 shares during the period. ProShare Advisors LLC’s holdings in Citigroup were worth $46,594,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in C. Richards Merrill & Peterson Inc. bought a new stake in Citigroup in the 4th quarter worth $28,000. Dunhill Financial LLC grew its holdings in Citigroup by 92.2% in the 3rd quarter. Dunhill Financial LLC now owns 319 shares of the company’s stock worth $32,000 after acquiring an additional 153 shares during the last quarter. Luken Investment Analytics LLC bought a new stake in shares of Citigroup in the 4th quarter worth approximately $32,000. High Note Wealth LLC grew its position in shares of Citigroup by 107.7% in the 4th quarter. High Note Wealth LLC now owns 270 shares of the company’s stock worth $32,000 after buying an additional 140 shares during the last quarter. Finally, Guerra Advisors Inc bought a new stake in shares of Citigroup in the 3rd quarter worth approximately $33,000. Institutional investors own 71.72% of the company’s stock.

Citigroup Trading Down 2.0%

NYSE C opened at $119.96 on Wednesday. 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 Inc. has a twelve month low of $71.65 and a twelve month high of $135.29. The firm has a market capitalization of $204.60 billion, a PE ratio of 14.87, a P/E/G ratio of 0.55 and a beta of 1.14. The stock’s 50 day moving average is $120.03 and its 200 day moving average is $114.43.

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

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

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be given a dividend of $0.60 per share. The ex-dividend date is Monday, May 4th. This represents a $2.40 annualized dividend and a dividend yield of 2.0%. Citigroup’s payout ratio is currently 29.74%.

Key Headlines Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup launched a €15 billion private capital program with BlackRock’s HPS to expand direct lending across EMEA, a move that could strengthen fee-based revenue and deepen its presence in private credit. Article Title
• Positive Sentiment: Citi reported better April card delinquency and charge-off trends year over year, suggesting some improvement in consumer credit quality. Article Title
• Positive Sentiment: Citi received final approval to launch a wholly foreign-owned securities firm in mainland China, expanding its ability to offer investment banking and brokerage services directly in a major market. Article Title
• Positive Sentiment: Citigroup hired former UK lawmaker Chuka Umunna as managing director in its UK investment banking division, a small but notable talent win that may support its EMEA franchise. Article Title
• Neutral Sentiment: Citi’s call that 30-year Treasury yields may next focus on 5.5% reflects its macro view, but it is not a direct operating driver for the bank. Article Title
• Negative Sentiment: CFRA reportedly downgraded Citigroup to Hold, which may be tempering enthusiasm after a strong run in the shares. Article Title

Insider Activity at Citigroup

In related news, Director John Cunningham Dugan sold 2,117 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $125.30, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Edward Skyler sold 25,000 shares of the business’s stock in a transaction dated 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 sale, 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 disclosure for this sale is available in the SEC filing. Insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

C has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Oppenheimer reiterated an “outperform” rating and issued a $145.00 price objective on shares of Citigroup in a research report on Friday, May 8th. Zacks Research lowered Citigroup from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $139.00 price objective on shares of Citigroup in a research report on Wednesday, April 15th. Finally, 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 research note 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $137.62.

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.