Sargent Investment Group LLC Takes Position in Citigroup Inc. $C

Sargent Investment Group LLC purchased a new stake in Citigroup Inc. (NYSE:C) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 12,513 shares of the company’s stock, valued at approximately $1,460,000.

A number of other hedge funds also recently made changes to their positions in the stock. Verus Capital Partners LLC boosted its stake in shares of Citigroup by 3.1% in 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 in the last quarter. Elmwood Wealth Management Inc. boosted its stake in shares of Citigroup by 1.3% in 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 in the last quarter. Park Place Capital Corp boosted its stake in shares of Citigroup by 16.7% in 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 in the last quarter. D.B. Root & Company LLC boosted its stake in shares of Citigroup by 2.8% in 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 in the last quarter. Finally, Cornerstone Wealth Management LLC boosted its stake in shares of Citigroup by 0.8% in 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 in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Down 0.1%

NYSE:C opened at $139.68 on Monday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.99 and a quick ratio of 0.99. Citigroup Inc. has a one year low of $76.11 and a one year high of $141.12. The firm’s 50 day simple moving average is $127.34 and its 200 day simple moving average is $118.19. The company has a market cap of $238.23 billion, a PE ratio of 17.31, a P/E/G ratio of 0.62 and a beta of 1.12.

Citigroup (NYSE:C) last released 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. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The firm had revenue of $24.63 billion during the quarter, compared to analyst estimates of $22.96 billion. During the same quarter last year, the business earned $1.96 EPS. The company’s revenue was up 14.1% compared to the same quarter last year. On average, research analysts anticipate that Citigroup Inc. will post 10.68 earnings per share for the current year.

Citigroup declared that its board has initiated a stock repurchase program on Thursday, May 7th that permits the company to buyback $30.00 billion in shares. This buyback authorization permits the company to reacquire up to 13.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Citigroup Announces Dividend

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

Insider Activity at Citigroup

In other Citigroup news, insider Edward Skyler sold 25,000 shares of the firm’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 transaction of $3,285,250.00. Following the completion of the transaction, the insider owned 182,022 shares in the company, valued at approximately $23,919,511.02. This trade represents a 12.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Cunningham Dugan sold 2,117 shares of the firm’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 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 position. The SEC filing for this sale provides additional information. 0.11% of the stock is currently owned by company insiders.

Key Headlines Impacting Citigroup

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

Analysts Set New Price Targets

Several equities research analysts recently commented on C shares. Keefe, Bruyette & Woods lifted their target price on shares of Citigroup from $140.00 to $153.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Royal Bank Of Canada reiterated an “outperform” rating and set a $139.00 target price on shares of Citigroup in a research report on Wednesday, April 15th. The Goldman Sachs Group lifted their target price on shares of Citigroup from $137.00 to $151.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. Wells Fargo & Company lifted their target price on shares of Citigroup from $160.00 to $162.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Finally, Jefferies Financial Group started coverage on shares of Citigroup in a research report on Thursday, March 26th. They set a “buy” rating and a $135.00 target price on the stock. One equities 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.