Havemeyer Place LP bought a new position in Citigroup Inc. (NYSE:C – Free Report) during the 4th quarter, Holdings Channel reports. The fund bought 21,706 shares of the company’s stock, valued at approximately $2,533,000.
Several other large investors have also recently made changes to their positions in C. Norges Bank bought a new stake in shares of Citigroup in the fourth quarter worth about $2,800,944,000. Vanguard Group Inc. increased its holdings 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 purchasing an additional 4,938,923 shares during the last quarter. Capital World Investors increased its holdings 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 purchasing an additional 2,871,074 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in shares of Citigroup in the fourth quarter worth about $298,082,000. Finally, SG Americas Securities LLC increased its holdings 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 purchasing an additional 2,008,946 shares during the last quarter. 71.72% of the stock is owned by institutional investors.
Insider Activity at Citigroup
In other Citigroup news, insider Edward Skyler sold 25,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 182,022 shares in the company, 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 filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Cunningham Dugan sold 2,117 shares of the business’s stock in a transaction that occurred 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 transaction, the director owned 12,194 shares of the company’s stock, valued at $1,527,908.20. This trade represents 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 insiders.
Key Citigroup News
- Positive Sentiment: Citigroup reshuffled senior leadership, naming Margo Pilic head of strategy, M&A, and investor relations, a move that could improve execution and simplify decision-making as CEO Jane Fraser continues the bank’s transformation. Citigroup Reshapes Leadership As It Pushes Into Tokenized Deposits
- Positive Sentiment: The bank is joining JPMorgan Chase, Bank of America, and other large lenders on a blockchain-based tokenized deposit network, signaling that Citi wants to stay competitive in next-generation payments and possibly benefit from lower-friction transaction infrastructure. JPMorgan, Citi and Big Banks Plan New Tokenized Deposit System to Answer Crypto
- Positive Sentiment: Investors are also responding to Citi’s growing use of AI in operations, including a document-review system that cuts account-opening review time from about an hour to 15 minutes, which may point to better efficiency and cost savings over time. Citi Used AI to Shrink a 60-Minute Document Review to 15 Minutes
- Neutral Sentiment: Citi also announced redemptions of $3.15 billion of notes due in 2027, a routine balance-sheet management move that does not appear to be a major catalyst on its own. Citigroup Announces $2.75 Billion Redemption…
- Neutral Sentiment: Several headlines about Citi’s stock becoming overextended and the broader market looking “frothy” may temper enthusiasm, but they read more like caution flags than direct negatives for the company’s fundamentals. The stock market is at its frothiest…
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on C. The Goldman Sachs Group lifted their target price on Citigroup from $137.00 to $151.00 and gave the stock a “buy” rating in a 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. Royal Bank Of Canada reiterated an “outperform” rating and issued a $139.00 price target on shares of Citigroup in a research report on Wednesday, April 15th. Morgan Stanley lifted their price target on Citigroup from $140.00 to $144.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Finally, Evercore set a $139.00 price target on Citigroup in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $137.62.
Get Our Latest Report on Citigroup
Citigroup Trading Down 1.9%
C opened at $132.62 on Friday. The firm has a market cap of $226.19 billion, a P/E ratio of 16.43, a P/E/G ratio of 0.59 and a beta of 1.12. Citigroup Inc. has a 12 month low of $76.11 and a 12 month high of $135.83. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. The stock has a 50-day moving average of $124.87 and a 200 day moving average of $116.75.
Citigroup (NYSE:C – Get Free Report) last released its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 EPS 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 during the quarter, compared to analyst estimates of $22.96 billion. During the same quarter last year, the business posted $1.96 earnings per share. The firm’s revenue was up 14.1% on a year-over-year basis. As a group, research analysts forecast that Citigroup Inc. will post 10.68 EPS for the current year.
Citigroup declared that its Board of Directors has initiated a stock buyback plan on Thursday, May 7th that allows the company to buyback $30.00 billion in shares. This buyback authorization allows the company to reacquire up to 13.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
Citigroup Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Monday, May 4th. Citigroup’s payout ratio is 29.74%.
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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