44 Wealth Management LLC Cuts Holdings in Citigroup Inc. $C

44 Wealth Management LLC lowered its stake in shares of Citigroup Inc. (NYSE:C) by 13.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,158 shares of the company’s stock after selling 4,543 shares during the period. Citigroup accounts for about 1.1% of 44 Wealth Management LLC’s investment portfolio, making the stock its 19th biggest holding. 44 Wealth Management LLC’s holdings in Citigroup were worth $3,193,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Citigroup by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company’s stock worth $19,048,467,000 after purchasing an additional 4,938,923 shares during the period. Geode Capital Management LLC increased its holdings in Citigroup by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 43,252,372 shares of the company’s stock worth $5,036,712,000 after buying an additional 189,548 shares during the period. Franklin Resources Inc. raised its position in Citigroup by 4.0% during the 4th quarter. Franklin Resources Inc. now owns 34,196,783 shares of the company’s stock worth $3,990,422,000 after buying an additional 1,326,224 shares during the last quarter. Fisher Asset Management LLC raised its position in Citigroup by 2.6% during the 4th quarter. Fisher Asset Management LLC now owns 33,887,285 shares of the company’s stock worth $3,954,307,000 after buying an additional 846,772 shares during the last quarter. Finally, Norges Bank acquired a new stake in Citigroup during the 4th quarter valued at approximately $2,800,944,000. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Up 0.1%

C opened at $131.95 on Friday. The company has a fifty day moving average of $135.01 and a two-hundred day moving average of $123.82. The stock has a market capitalization of $225.06 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 0.60 and a beta of 1.11. Citigroup Inc. has a fifty-two week low of $87.94 and a fifty-two week high of $147.96. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 0.99.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, July 14th. The company reported $3.15 EPS for the quarter, beating analysts’ consensus estimates of $2.74 by $0.41. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The business had revenue of $24.75 billion during the quarter, compared to analysts’ expectations of $23.74 billion. During the same period in the previous year, the business earned $1.96 earnings per share. The business’s revenue was up 14.5% compared to the same quarter last year. On average, research analysts expect that Citigroup Inc. will post 11.2 earnings per share for the current year.

Citigroup announced that its Board of Directors has initiated a share buyback program on Thursday, May 7th that permits the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 13.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 3rd will be given a dividend of $0.67 per share. This is a boost from Citigroup’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, August 3rd. This represents a $2.68 annualized dividend and a dividend yield of 2.0%. Citigroup’s payout ratio is currently 25.92%.

Insiders Place Their Bets

In related news, Director John Cunningham Dugan sold 2,117 shares of Citigroup stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $125.30, for a total value of $265,260.10. Following the sale, the director directly owned 12,194 shares in the company, valued at approximately $1,527,908.20. The trade was a 14.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Oppenheimer cut shares of Citigroup from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citigroup in a research report on Friday, July 17th. JPMorgan Chase & Co. lifted their price objective on Citigroup from $135.50 to $149.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Truist Financial decreased their price objective on Citigroup from $158.00 to $154.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. Finally, Wall Street Zen upgraded Citigroup from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $145.67.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi analysts said the recent pullback in semiconductor stocks looks like a buying opportunity, which may support broader risk appetite and help sentiment around markets that Citigroup covers through its trading and research franchises. Pullback in chip stocks is a buying opportunity, Citi says
• Positive Sentiment: Citigroup was highlighted in a new CMBS deal update, after pricing an $817 million multifamily conduit transaction, reinforcing Citi’s role as an active lender and securitization player in U.S. commercial real estate. Citigroup (C) Sets Post GFC Record With $817 Million Multifamily CMBS Deal
• Neutral Sentiment: Citigroup reportedly closed a bullish South African rand trade after the currency looked “fragile” following South Africa’s surprise rate hold. This is more of a trading update than a major earnings driver, but it shows Citi is actively adjusting macro positions. Citi Drops Rand Bet After South Africa’s Surprise Rate Hold
• Neutral Sentiment: Separately, a headline noting Citi’s bearish view on the “Magnificent Seven” may reflect the bank’s broader market outlook, but it does not directly change Citigroup’s fundamentals. Wall Street Bank Just Declared the Magnificent 7 as “Dead” — What Happens Next?

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.