Engle Capital Management L.P. Buys Shares of 42,000 Citigroup Inc. $C

Engle Capital Management L.P. bought a new stake in Citigroup Inc. (NYSE:C) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 42,000 shares of the company’s stock, valued at approximately $4,901,000. Citigroup comprises about 1.9% of Engle Capital Management L.P.’s portfolio, making the stock its 19th biggest position.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted 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 valued at $19,048,467,000 after acquiring an additional 4,938,923 shares during the last quarter. Capital World Investors raised its stake in shares of Citigroup by 6.5% in the 3rd quarter. Capital World Investors now owns 47,262,626 shares of the company’s stock valued at $4,797,292,000 after acquiring an additional 2,871,074 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Citigroup by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 43,252,372 shares of the company’s stock valued at $5,036,712,000 after acquiring an additional 189,548 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Citigroup by 4.0% in the 4th quarter. Franklin Resources Inc. now owns 34,196,783 shares of the company’s stock valued at $3,990,422,000 after acquiring an additional 1,326,224 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Citigroup by 2.6% in the 4th quarter. Fisher Asset Management LLC now owns 33,887,285 shares of the company’s stock valued at $3,954,307,000 after acquiring an additional 846,772 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Trading activity showed unusually strong demand for Citigroup call options, suggesting investors are positioning for further upside in the stock.
• Positive Sentiment: Citigroup’s May consumer credit data was mixed but not alarming overall: card delinquencies declined, which may support the view that credit quality remains manageable. Article: Citigroup’s Card Delinquencies Decline, Charge-Offs Rise in May
• Positive Sentiment: The stock is still benefiting from recent momentum tied to strong earnings, restructuring progress, AI-related initiatives and share buybacks, which have helped push shares toward multi-year highs. Article: Citigroup Stock at Multi-Year High: Why Investors Should Stay Invested
• Neutral Sentiment: There was also a report that Citigroup had recently gone long on a more constructive market view via an economist’s call for Fed rate cuts, but this is more macro commentary than a direct company catalyst. Article: Citi chief US economist defends unpopular Fed rate-cut call
• Negative Sentiment: Two lawsuits tied to a former executive’s allegations over Trump-related client concerns and retaliation could create legal and reputational risk for Citigroup if the claims gain traction. Article: Citigroup faces lawsuit over alleged Trump-linked account issues

Citigroup Trading Up 0.5%

Shares of NYSE:C opened at $143.74 on Thursday. 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 $77.26 and a 52-week high of $146.54. The stock’s 50-day moving average is $128.94 and its 200-day moving average is $119.04. The company has a market cap of $245.16 billion, a P/E ratio of 17.81, a P/E/G ratio of 0.64 and a beta of 1.12.

Citigroup (NYSE:C) last issued 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 net margin of 9.35% and a return on equity of 9.19%. The firm had revenue of $24.63 billion during the quarter, compared to the consensus estimate of $22.96 billion. During the same period in the prior year, the firm earned $1.96 EPS. The business’s revenue was up 14.1% on a year-over-year basis. Equities research analysts predict that Citigroup Inc. will post 10.68 earnings per share for the current year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. Citigroup’s dividend payout ratio is 29.74%.

Citigroup declared that its Board of Directors has approved a share repurchase plan on Thursday, May 7th that permits the company to repurchase $30.00 billion in shares. This repurchase authorization permits 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 management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on C shares. Royal Bank Of Canada reissued an “outperform” rating and issued a $139.00 price objective on shares of Citigroup in a research note on Wednesday, April 15th. The Goldman Sachs Group raised their price objective on Citigroup from $137.00 to $151.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Barclays raised their price objective on Citigroup from $146.00 to $154.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Morgan Stanley raised their price objective on Citigroup from $140.00 to $144.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Finally, Wells Fargo & Company set a $165.00 price objective on Citigroup and gave the company an “overweight” rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.79.

Insiders Place Their Bets

In related news, Director John Cunningham Dugan sold 2,117 shares of the company’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 completion of the transaction, the director directly owned 12,194 shares in the company, valued at approximately $1,527,908.20. This represents a 14.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Edward Skyler sold 25,000 shares of the company’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 completion of the transaction, 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 disclosure for this sale is available in the SEC filing. 0.11% of the stock is owned by corporate insiders.

Citigroup Company 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.