Algebris UK Ltd. Grows Position in Citigroup Inc. $C

Algebris UK Ltd. boosted its holdings in Citigroup Inc. (NYSE:C) by 13.3% in the 4th quarter, HoldingsChannel reports. The fund owned 264,738 shares of the company’s stock after acquiring an additional 31,036 shares during the quarter. Citigroup comprises about 1.5% of Algebris UK Ltd.’s investment portfolio, making the stock its 17th biggest holding. Algebris UK Ltd.’s holdings in Citigroup were worth $30,907,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Richards Merrill & Peterson Inc. purchased a new position in Citigroup in the fourth quarter worth $28,000. Luken Investment Analytics LLC purchased a new position in Citigroup in the fourth quarter worth $32,000. High Note Wealth LLC raised its position in Citigroup by 107.7% in the fourth quarter. High Note Wealth LLC now owns 270 shares of the company’s stock worth $32,000 after acquiring an additional 140 shares in the last quarter. Entrust Financial LLC purchased a new position in Citigroup in the fourth quarter worth $34,000. Finally, Maseco LLP purchased a new position in Citigroup in the fourth quarter worth $35,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Trading Up 4.0%

Shares of C stock opened at $124.80 on Thursday. Citigroup Inc. has a fifty-two week low of $71.65 and a fifty-two week high of $135.29. The stock has a market cap of $212.85 billion, a P/E ratio of 15.46, a P/E/G ratio of 0.54 and a beta of 1.14. The business has a fifty day simple moving average of $120.40 and a 200-day simple moving average of $114.60. 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 (NYSE:C) last announced its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.63 by $0.43. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The business had revenue of $24.63 billion during the quarter, compared to analysts’ expectations of $22.96 billion. During the same quarter last year, the business posted $1.96 earnings per share. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, analysts forecast that Citigroup Inc. will post 10.65 earnings per share for the current fiscal year.

Citigroup Announces Dividend

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 dividend payout ratio (DPR) is presently 29.74%.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on C shares. JPMorgan Chase & Co. increased their price objective on Citigroup from $131.00 to $135.50 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Citigroup in a research report on Monday, April 20th. Royal Bank Of Canada restated an “outperform” rating and issued a $139.00 price target on shares of Citigroup in a research report on Wednesday, April 15th. Wall Street Zen upgraded Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Jefferies Financial Group began coverage on Citigroup in a research report on Thursday, March 26th. They issued a “buy” rating and a $135.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $137.62.

Insiders Place Their Bets

In related news, 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 owned 182,022 shares of the company’s stock, valued at $23,919,511.02. This trade represents a 12.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Cunningham Dugan sold 2,117 shares of the stock in a transaction on Friday, May 8th. The shares were 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 disclosure for this sale is available in the SEC filing. 0.11% of the stock is owned by company insiders.

Citigroup News Summary

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 and capital solutions in Europe, the Middle East and Africa, a move that could support higher fee income and growth in private credit. Citigroup Taps €15b Private Capital To Grow EMEA Fee Income
• Positive Sentiment: Recent card data showed Citigroup’s April delinquencies and charge-offs improved year over year, suggesting healthier consumer credit trends in its credit-card portfolio. Citigroup’s Card Delinquencies & Charge-Offs Improve Y/Y in April
• Positive Sentiment: Analysts continue to highlight Citigroup as a dividend-focused value idea, reinforcing the stock’s appeal for income-oriented investors. Why Citigroup (C) is a Top Dividend Stock for Your Portfolio

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.