Banco BTG Pactual S.A. cut its stake in Citigroup Inc. (NYSE:C – Free Report) by 77.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,472 shares of the company’s stock after selling 108,032 shares during the period. Banco BTG Pactual S.A.’s holdings in Citigroup were worth $3,672,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in C. Norges Bank bought a new stake in Citigroup in the fourth quarter valued at approximately $2,800,944,000. Vanguard Group Inc. boosted its holdings 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 boosted its holdings in Citigroup by 6.5% in the third 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 during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in Citigroup in the fourth quarter valued at approximately $298,082,000. Finally, SG Americas Securities LLC boosted its holdings in Citigroup by 291.4% in the fourth quarter. SG Americas Securities LLC now owns 1,319,549 shares of the company’s stock valued at $153,978,000 after acquiring an additional 2,008,946 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts recently commented on the company. Royal Bank Of Canada reiterated an “outperform” rating and issued a $139.00 target price on shares of Citigroup in a report on Wednesday, April 15th. Keefe, Bruyette & Woods increased their price target on Citigroup from $140.00 to $153.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Jefferies Financial Group assumed coverage on Citigroup in a report on Thursday, March 26th. They set a “buy” rating and a $135.00 price target on the stock. Wells Fargo & Company increased their price target on Citigroup from $160.00 to $162.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Finally, Evercore set a $139.00 price target on Citigroup in a report on Wednesday, April 15th. One investment 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.62.
Trending Headlines about Citigroup
Here are the key news stories impacting Citigroup this week:
- Positive Sentiment: Citigroup is rolling out tokenized depositary receipts for private-company shares, a move that could broaden access to private markets and create a new growth avenue for the bank. Article title
- Positive Sentiment: Reuters reported that Citi hired Ryan Beaupré as a managing director in its consumer and retail investment banking group, signaling continued effort to expand the franchise and deepen client coverage. Article title
- Positive Sentiment: Citigroup’s recent earnings beat and revenue growth continue to support the stock, with Q1 EPS and revenue both topping expectations and underscoring improving operating momentum. Article title
- Neutral Sentiment: President Trump publicly praised Citigroup and CEO Jane Fraser for M&A advisory work, which helped sentiment, but some reports noted the ranking was overstated, limiting the fundamental impact. Article title
- Neutral Sentiment: Market commentary also pointed to Citigroup’s turnaround progress, solid trading conditions, and a constructive investment banking outlook, which supports the stock but is largely a continuation of existing optimism. Article title
Insiders Place Their Bets
In related news, Director John Cunningham Dugan sold 2,117 shares of the 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 in the company, valued at $1,527,908.20. This trade represents a 14.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 value of $3,285,250.00. Following the completion of the transaction, the insider owned 182,022 shares in the company, valued at approximately $23,919,511.02. This represents 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 company insiders.
Citigroup Price Performance
Citigroup stock opened at $137.89 on Friday. Citigroup Inc. has a 52-week low of $76.11 and a 52-week high of $138.23. The stock’s 50 day moving average price is $126.85 and its two-hundred day moving average price is $117.91. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $235.18 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 0.60 and a beta of 1.12.
Citigroup (NYSE:C – Get Free Report) last issued its earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 last year, the business earned $1.96 EPS. Citigroup’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, equities analysts predict that Citigroup Inc. will post 10.68 earnings per share for the current year.
Citigroup Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Monday, May 4th. Citigroup’s dividend payout ratio (DPR) is currently 29.74%.
Citigroup announced that its board has approved a share repurchase plan on Thursday, May 7th that authorizes the company to repurchase $30.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 13.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.
About Citigroup
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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