On February 27, 2023 at 15:36:33 (ET) an unusually large $231.28K block of Call contracts in Citigroup (C) was sold, with a strike price of $55.00 / share, expiring in 109 days (on June 16, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.03 sigmas above the mean, placing it in the 84.97 percentile of all recent large trades made in C options.

Analyst Price Forecast Suggests 18.84% Upside

As of February 27, 2023, the average one-year price target for Citigroup is $59.63. The forecasts range from a low of $41.41 to a high of $99.75. The average price target represents an increase of 18.84% from its latest reported closing price of $50.18.

The projected annual revenue for Citigroup is $78,049MM, an increase of 10.61%. The projected annual EPS is $6.58, a decrease of 10.30%.

What is the Fund Sentiment?

There are 2597 funds or institutions reporting positions in Citigroup. This is a decrease of 6 owner(s) or 0.23% in the last quarter. Average portfolio weight of all funds dedicated to C is 0.47%, a decrease of 10.09%. Total shares owned by institutions increased in the last three months by 0.10% to 1,554,671K shares. The put/call ratio of C is 1.18, indicating a bearish outlook.

What are large shareholders doing?

Berkshire Hathaway holds 55,156K shares representing 2.85% ownership of the company. No change in the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 54,852K shares representing 2.83% ownership of the company. In it’s prior filing, the firm reported owning 54,317K shares, representing an increase of 0.98%. The firm decreased its portfolio allocation in C by 4.62% over the last quarter.

VFINX – Vanguard 500 Index Fund Investor Shares holds 43,903K shares representing 2.27% ownership of the company. In it’s prior filing, the firm reported owning 42,985K shares, representing an increase of 2.09%. The firm decreased its portfolio allocation in C by 4.30% over the last quarter.

Geode Capital Management holds 34,660K shares representing 1.79% ownership of the company. In it’s prior filing, the firm reported owning 34,424K shares, representing an increase of 0.68%. The firm increased its portfolio allocation in C by 1.03% over the last quarter.

Bank of New York Mellon holds 26,685K shares representing 1.38% ownership of the company. In it’s prior filing, the firm reported owning 26,320K shares, representing an increase of 1.37%. The firm decreased its portfolio allocation in C by 81.38% over the last quarter.

Citigroup Declares $0.51 Dividend

On January 11, 2023 the company declared a regular quarterly dividend of $0.51 per share ($2.04 annualized). Shareholders of record as of February 6, 2023 received the payment on February 24, 2023. Previously, the company paid $0.51 per share.

At the current share price of $50.18 / share, the stock’s dividend yield is 4.07%. Looking back five years and taking a sample every week, the average dividend yield has been 3.25%, the lowest has been 1.65%, and the highest has been 5.76%. The standard deviation of yields is 0.82 (n=237).

The current dividend yield is 1.00 standard deviations above the historical average.

Additionally, the company’s dividend payout ratio is 0.27. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

Citigroup Background Information
(This description is provided by the company.)

Citigroup Inc. or citi is an American multinational investment bank and financial services corporation headquartered in New York City. The company was formed by the merger of banking giant Citicorp and financial conglomerate Travelers Group in 1998. Citigroup is the third largest banking institution in the United States; alongside JPMorgan Chase, Bank of America, and Wells Fargo, it is one of the Big Four banking institutions of the United States. Citigroup is ranked 30th on the Fortune 500 as of 2019. Citigroup has over 200 million customer accounts and does business in more than 160 countries. It has 204,000 employees.

This article originally appeared on Fintel

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