KBC Group NV Has $397.79 Million Holdings in Citigroup Inc. $C

KBC Group NV cut its position in shares of Citigroup Inc. (NYSE:CFree Report) by 8.7% in the first quarter, Holdings Channel reports. The firm owned 3,507,535 shares of the company’s stock after selling 332,345 shares during the period. Citigroup accounts for 1.0% of KBC Group NV’s investment portfolio, making the stock its 12th largest holding. KBC Group NV’s holdings in Citigroup were worth $397,789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in shares of Citigroup in the 4th quarter valued at approximately $2,800,944,000. Vanguard Group Inc. raised its position in Citigroup by 3.1% during 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 in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in Citigroup in the fourth quarter valued at approximately $298,082,000. SEB Asset Management AB acquired a new stake in Citigroup in the first quarter valued at approximately $252,972,000. Finally, SG Americas Securities LLC grew its position in 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. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on C. The Goldman Sachs Group increased their price target on shares of Citigroup from $137.00 to $151.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. Argus set a $150.00 price objective on shares of Citigroup in a research note on Wednesday. Keefe, Bruyette & Woods upped their price objective on shares of Citigroup from $140.00 to $153.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Bank of America increased their target price on shares of Citigroup from $170.00 to $176.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. raised their target price on Citigroup from $135.50 to $149.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and a consensus price target of $145.67.

Check Out Our Latest Research Report on Citigroup

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

Insider Transactions at Citigroup

In related news, Director John Cunningham Dugan sold 2,117 shares of Citigroup stock in a transaction 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 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 legal filing with the SEC, which is available through this link. Insiders own 0.11% of the company’s stock.

Citigroup Trading Up 0.1%

Shares of C stock opened at $129.46 on Monday. Citigroup Inc. has a 12 month low of $87.94 and a 12 month high of $147.96. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.71. The business’s 50 day moving average is $134.34 and its two-hundred day moving average is $123.36. The company has a market cap of $220.81 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 0.59 and a beta of 1.11.

Citigroup (NYSE:CGet Free Report) last issued its quarterly earnings data on Tuesday, July 14th. The company reported $3.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.74 by $0.41. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The business had revenue of $24.75 billion during the quarter, compared to analysts’ expectations of $23.74 billion. During the same period in the previous year, the company earned $1.96 earnings per share. Citigroup’s revenue for the quarter was up 14.5% on a year-over-year basis. Equities analysts predict that Citigroup Inc. will post 11.15 EPS for the current year.

Citigroup announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 7th that allows the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 13.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Citigroup Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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