Rakuten Investment Management Inc. Buys 208,713 Shares of Citigroup Inc. $C

Rakuten Investment Management Inc. lifted its stake in shares of Citigroup Inc. (NYSE:C) by 723.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 237,567 shares of the company’s stock after buying an additional 208,713 shares during the period. Rakuten Investment Management Inc.’s holdings in Citigroup were worth $28,064,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC lifted its position in Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after purchasing an additional 12,499 shares during the period. Sivia Capital Partners LLC lifted its holdings in shares of Citigroup by 20.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 9,805 shares of the company’s stock worth $835,000 after acquiring an additional 1,669 shares during the period. United Bank acquired a new stake in shares of Citigroup during the 2nd quarter worth approximately $972,000. Osterweis Capital Management Inc. increased its stake in Citigroup by 3,016.7% in the second quarter. Osterweis Capital Management Inc. now owns 935 shares of the company’s stock valued at $80,000 after acquiring an additional 905 shares during the last quarter. Finally, HUB Investment Partners LLC raised its position in Citigroup by 26.9% during the second quarter. HUB Investment Partners LLC now owns 15,287 shares of the company’s stock valued at $1,301,000 after purchasing an additional 3,238 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup completed the sale of its Polish consumer banking business, marking another step in exiting non-core international consumer operations and simplifying the firm’s structure. C Sheds Polish Arm, Marks Final Exit From Nore-Core Consumer Business
• Positive Sentiment: News that Citi’s CFO sees revenue growth ahead of analyst expectations, along with expansion into blockchain-based trading for private equity clients, has added to investor interest in the stock. Citigroup (C) Stock Valuation After CFO Growth Outlook And Blockchain Trading Expansion
• Positive Sentiment: Jim Cramer said he is “very bullish” on Citigroup, which can help strengthen sentiment around the bank and its management team. Jim Cramer on Citigroup: “Very Bullish”
• Positive Sentiment: Citi-linked commentary also highlighted bullish options positioning on Citigroup, suggesting traders are still betting on continued momentum with limited downside risk. Bullish Spread Targets Citigroup Stock Momentum With Limited Risk
• Neutral Sentiment: Citi also appeared in broader market coverage about bank-stock strength and analyst comparisons, but these were more sector-focused than direct catalysts for Citigroup. Nifty Bank rallies 1000 points
• Neutral Sentiment: Citi’s decision to cut Brent oil forecasts reflects the firm’s broader research views on energy markets, but it is not a major direct driver of Citigroup’s shares. Citi cuts Brent forecasts as U.S.-Iran MoU points to Strait of Hormuz flow normalization

Insider Activity at Citigroup

In related news, insider Edward Skyler sold 25,000 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $131.41, for a total value 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. The trade was a 12.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John Cunningham Dugan sold 2,117 shares of the firm’s stock in a transaction 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 transaction, the director directly owned 12,194 shares of the company’s stock, valued at approximately $1,527,908.20. This represents a 14.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

C has been the topic of a number of research analyst reports. Morgan Stanley raised their target price on Citigroup from $140.00 to $144.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Truist Financial set a $147.00 price objective on Citigroup in a research note on Friday, May 1st. Royal Bank Of Canada reiterated an “outperform” rating and issued a $139.00 target price on shares of Citigroup in a research report on Wednesday, April 15th. Wells Fargo & Company increased their target price on shares of Citigroup from $160.00 to $162.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Finally, Piper Sandler restated an “overweight” rating and issued a $145.00 price target (up from $125.00) on shares of Citigroup in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $137.62.

Citigroup Price Performance

Shares of C opened at $141.18 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.59. The stock has a market cap of $240.80 billion, a PE ratio of 17.49, a PEG ratio of 0.62 and a beta of 1.12. Citigroup Inc. has a 12-month low of $76.95 and a 12-month high of $143.56. The business has a 50-day simple moving average of $127.86 and a two-hundred day simple moving average of $118.47.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.43. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The company had revenue of $24.63 billion for the quarter, compared to analysts’ expectations of $22.96 billion. During the same period in the previous year, the business posted $1.96 earnings per share. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. Analysts anticipate that Citigroup Inc. will post 10.68 earnings per share for the current fiscal year.

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

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.7%. The ex-dividend date was Monday, May 4th. Citigroup’s dividend payout ratio is 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.