Meiji Yasuda Asset Management Co Ltd. decreased its holdings in Citigroup Inc. (NYSE:C – Free Report) by 8.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 82,946 shares of the company’s stock after selling 7,453 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Citigroup were worth $9,679,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of C. Vanguard Group Inc. lifted its stake in shares of 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 acquiring an additional 4,938,923 shares in the last quarter. Bank of New York Mellon Corp lifted its stake 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 worth $2,854,788,000 after acquiring an additional 4,211,099 shares in the last quarter. Capital World Investors lifted its stake in shares of Citigroup by 6.5% in the third quarter. Capital World Investors now owns 47,262,626 shares of the company’s stock worth $4,797,292,000 after acquiring an additional 2,871,074 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of Citigroup by 6,172.0% in the third quarter. Bessemer Group Inc. now owns 2,904,795 shares of the company’s stock worth $294,838,000 after acquiring an additional 2,858,481 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Citigroup by 291.4% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.
Citigroup Trading Up 0.3%
Shares of NYSE C opened at $125.19 on Friday. The stock’s 50 day moving average price is $120.72 and its two-hundred day moving average price is $114.77. Citigroup Inc. has a 52-week low of $71.65 and a 52-week high of $135.29. The stock has a market capitalization of $213.51 billion, a P/E ratio of 15.51, a PEG ratio of 0.56 and a beta of 1.14. 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 Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Monday, May 4th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, May 4th. Citigroup’s dividend payout ratio is 29.74%.
Citigroup announced that its Board of Directors has authorized a share repurchase program on Thursday, May 7th that authorizes the company to buyback $30.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 13.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.
More Citigroup News
Here are the key news stories impacting Citigroup this week:
- Positive Sentiment: Citigroup shareholders approved an expanded stock incentive plan at the company’s May 20 annual meeting, which should give management more flexibility to retain and motivate employees through equity compensation. Citigroup Shareholders Approve Expanded Stock Incentive Plan
- Positive Sentiment: Several commentary pieces highlighted Citigroup as undervalued or attractive for income-focused investors, reinforcing the view that the stock still has room to rerate after recent earnings improvement. 5 Most Undervalued US Stocks According to Hedge Funds Why Citigroup (C) is a Top Dividend Stock for Your Portfolio
- Neutral Sentiment: Citigroup also remained active in market commentary on India IPOs and currency controls, but these reports are more about its broader banking views than a direct business update for the company. Citi sees India IPOs hitting fresh records despite challenges Citi Sees India IPOs Hitting Fresh Records Despite Challenges
- Neutral Sentiment: There was also a report that Trump backed away from requiring banks to collect citizenship information, which slightly reduces regulatory overhang but does not materially change Citigroup’s near-term fundamentals. Trump backs down from idea of banks collecting citizenship information
- Negative Sentiment: On the other hand, Citi faced fresh governance scrutiny after a separate report said more shareholders voted against the bank’s say-on-pay proposal, signaling some dissatisfaction with executive compensation practices. More Citi shareholders vote ‘no’ on say-on-pay
Wall Street Analysts Forecast Growth
C has been the topic of several recent analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $139.00 price target on shares of Citigroup in a report on Wednesday, April 15th. JPMorgan Chase & Co. upped their price target on shares of Citigroup from $131.00 to $135.50 and gave the company an “overweight” rating in a report on Thursday, April 30th. Truist Financial set a $147.00 price target on shares of Citigroup in a report on Friday, May 1st. Barclays upped their price target on shares of Citigroup from $146.00 to $154.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Finally, The Goldman Sachs Group upped their price target on shares of Citigroup from $137.00 to $151.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and an average target price of $137.62.
Read Our Latest Report on Citigroup
Insiders Place Their Bets
In other Citigroup news, 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 transaction of $265,260.10. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 directly owned 182,022 shares in the company, valued at $23,919,511.02. This trade represents a 12.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.11% of the stock is currently 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.
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