KLCM Advisors Inc. Has $30.09 Million Stock Holdings in Citigroup Inc. $C

KLCM Advisors Inc. cut its holdings in shares of Citigroup Inc. (NYSE:C) by 4.0% during the fourth quarter, Holdings Channel reports. The fund owned 257,877 shares of the company’s stock after selling 10,703 shares during the period. Citigroup makes up about 2.6% of KLCM Advisors Inc.’s portfolio, making the stock its 5th biggest position. KLCM Advisors Inc.’s holdings in Citigroup were worth $30,092,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Citigroup by 3.1% in 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 in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Citigroup by 17.6% in the third quarter. Bank of New York Mellon Corp now owns 28,125,995 shares of the company’s stock valued at $2,854,788,000 after buying an additional 4,211,099 shares during the last quarter. Capital World Investors lifted its position in Citigroup by 6.5% during the 3rd quarter. Capital World Investors now owns 47,262,626 shares of the company’s stock worth $4,797,292,000 after buying an additional 2,871,074 shares in the last quarter. Bessemer Group Inc. lifted its position in Citigroup by 6,172.0% during the 3rd quarter. Bessemer Group Inc. now owns 2,904,795 shares of the company’s stock worth $294,838,000 after buying an additional 2,858,481 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Citigroup by 291.4% during the 4th quarter. SG Americas Securities LLC now owns 1,319,549 shares of the company’s stock worth $153,978,000 after acquiring an additional 2,008,946 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Price Performance

Shares of C stock opened at $125.85 on Tuesday. The firm’s 50 day moving average price is $118.40 and its two-hundred day moving average price is $113.39. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99. Citigroup Inc. has a 52-week low of $71.65 and a 52-week high of $135.29. The stock has a market cap of $215.81 billion, a PE ratio of 15.59, a PEG ratio of 0.56 and a beta of 1.14.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, beating the consensus estimate of $2.63 by $0.43. The company had revenue of $24.63 billion during the quarter, compared to analysts’ expectations of $22.96 billion. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.96 EPS. As a group, analysts forecast that Citigroup Inc. will post 10.65 EPS for the current year.

Citigroup announced that its board has approved a share buyback plan on Thursday, May 7th that permits the company to repurchase $30.00 billion in shares. This repurchase authorization permits the company to buy up to 13.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be paid 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 payout ratio is 29.74%.

Insider Transactions at Citigroup

In related news, insider Cantu Ernesto Torres sold 43,173 shares of the company’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $111.09, for a total value of $4,796,088.57. Following the completion of the sale, the insider owned 45,835 shares in the company, valued at approximately $5,091,810.15. This represents a 48.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Edward Skyler sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $131.41, for a total value of $3,285,250.00. Following 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 disclosure for this sale is available in the SEC filing. Insiders sold 92,318 shares of company stock valued at $10,764,814 in the last quarter. 0.11% of the stock is currently owned by corporate insiders.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup strategists said U.S. stock market outperformance, led by a narrow group of large-cap tech names, still has room to run. That view can be favorable for Citigroup’s trading and investment-banking activity if equity markets remain resilient. Citi’s Manthey Says US Stock Outperformance Has Further to Run
• Positive Sentiment: Citigroup was highlighted by Investors.com as being in a “buy zone,” with a bullish options spread described as attractive. That kind of commentary can support sentiment around the stock. With Citigroup In A Buy Zone, This Bullish Spread Looks Attractive
• Neutral Sentiment: Goldman Sachs and Bank of America pushed back expectations for Federal Reserve rate cuts after stronger jobs and inflation data. A more “higher-for-longer” rate environment is mixed for Citigroup, as it can support net interest income but also keep pressure on credit conditions and borrowing demand. Goldman, BofA Delay Fed Cut Calls After ‘Last Straw’ Jobs Data
• Neutral Sentiment: Citigroup’s recent earnings backdrop remains constructive, with the bank having beaten quarterly EPS and revenue estimates previously. That supports the stock’s broader uptrend, though it is not fresh news.

Analysts Set New Price Targets

A number of brokerages have weighed in on C. UBS Group reaffirmed a “neutral” rating and issued a $132.00 target price on shares of Citigroup in a research note on Thursday, January 15th. Royal Bank Of Canada reissued an “outperform” rating and set a $139.00 price target on shares of Citigroup in a research note on Wednesday, April 15th. Wells Fargo & Company raised their price target on shares of Citigroup from $160.00 to $162.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Keefe, Bruyette & Woods boosted their price objective on shares of Citigroup from $140.00 to $153.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Morgan Stanley upped their price objective on Citigroup from $140.00 to $144.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $137.62.

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.