IFP Advisors Inc Purchases 16,010 Shares of Citigroup Inc. $C

IFP Advisors Inc grew its position in shares of Citigroup Inc. (NYSE:C) by 134.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,902 shares of the company’s stock after buying an additional 16,010 shares during the quarter. IFP Advisors Inc’s holdings in Citigroup were worth $3,256,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Richards Merrill & Peterson Inc. bought a new stake in Citigroup during the fourth quarter worth about $28,000. Luken Investment Analytics LLC bought a new stake in Citigroup during the fourth quarter worth about $32,000. High Note Wealth LLC grew its stake in Citigroup by 107.7% during the fourth 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. Entrust Financial LLC bought a new stake in Citigroup during the fourth quarter worth about $34,000. Finally, Maseco LLP bought a new stake in Citigroup during the fourth quarter worth about $35,000. 71.72% of the stock is owned by institutional investors.

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup shareholders approved an expanded stock incentive plan at the company’s May 20 annual meeting, which should give management more flexibility to retain and motivate employees through equity compensation. Citigroup Shareholders Approve Expanded Stock Incentive Plan
• Positive Sentiment: Several commentary pieces highlighted Citigroup as undervalued or attractive for income-focused investors, reinforcing the view that the stock still has room to rerate after recent earnings improvement. 5 Most Undervalued US Stocks According to Hedge Funds Why Citigroup (C) is a Top Dividend Stock for Your Portfolio
• Neutral Sentiment: Citigroup also remained active in market commentary on India IPOs and currency controls, but these reports are more about its broader banking views than a direct business update for the company. Citi sees India IPOs hitting fresh records despite challenges Citi Sees India IPOs Hitting Fresh Records Despite Challenges
• Neutral Sentiment: There was also a report that Trump backed away from requiring banks to collect citizenship information, which slightly reduces regulatory overhang but does not materially change Citigroup’s near-term fundamentals. Trump backs down from idea of banks collecting citizenship information
• Negative Sentiment: On the other hand, Citi faced fresh governance scrutiny after a separate report said more shareholders voted against the bank’s say-on-pay proposal, signaling some dissatisfaction with executive compensation practices. More Citi shareholders vote ‘no’ on say-on-pay

Insider Activity at Citigroup

In related news, 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 value of $265,260.10. Following the completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edward Skyler sold 25,000 shares of the 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 sale, the insider directly owned 182,022 shares of the company’s stock, valued at $23,919,511.02. This represents a 12.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.11% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

C has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Citigroup from $131.00 to $135.50 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citigroup in a research note on Monday, April 20th. Evercore set a $139.00 price objective on shares of Citigroup in a research note on Wednesday, April 15th. 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. Finally, Morgan Stanley upped their target price on shares of Citigroup from $140.00 to $144.00 and gave the stock an “overweight” rating in a research 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 given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.62.

Citigroup Price Performance

Shares of C stock opened at $125.19 on Friday. Citigroup Inc. has a 1 year low of $71.65 and a 1 year high of $135.29. The firm’s 50 day moving average is $120.72 and its 200-day moving average is $114.77. The firm has a market capitalization of $213.51 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 0.56 and a beta of 1.14. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59.

Citigroup (NYSE:C) last posted its quarterly earnings results 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. The business 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%. Citigroup’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.96 earnings per share. Sell-side analysts forecast that Citigroup Inc. will post 10.65 EPS for the current fiscal year.

Citigroup declared that its board has authorized a share repurchase plan on Thursday, May 7th that allows the company to repurchase $30.00 billion in shares. This repurchase authorization allows the company to reacquire up to 13.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Monday, May 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, May 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.9%. Citigroup’s dividend payout ratio (DPR) is currently 29.74%.

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.