Fjarde AP Fonden Fourth Swedish National Pension Fund Buys 5,027 Shares of Citigroup Inc. $C

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Citigroup Inc. (NYSE:C) by 1.6% during the third quarter, Holdings Channel reports. The firm owned 319,091 shares of the company’s stock after buying an additional 5,027 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Citigroup were worth $32,388,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of Citigroup by 1.1% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 597,276 shares of the company’s stock valued at $60,652,000 after buying an additional 6,788 shares during the period. Blalock Williams LLC purchased a new position in shares of Citigroup during the 3rd quarter worth approximately $367,000. Impact Capital Partners LLC bought a new position in shares of Citigroup in the 3rd quarter worth approximately $218,000. Octavia Wealth Advisors LLC raised its position in shares of Citigroup by 7.7% in the 3rd quarter. Octavia Wealth Advisors LLC now owns 2,812 shares of the company’s stock worth $285,000 after acquiring an additional 202 shares in the last quarter. Finally, Avantra Family Wealth Inc. boosted its position in shares of Citigroup by 1.2% during the third quarter. Avantra Family Wealth Inc. now owns 22,034 shares of the company’s stock valued at $2,236,000 after purchasing an additional 261 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Q4 earnings beat and weaker credit reserve build — Citi reported adjusted EPS above estimates and insiders highlighted lighter-than-expected loan-loss provisions, which reassures investors on near-term credit trends. Citigroup Q4 earnings (CNBC)
• Positive Sentiment: Investment-banking and advisory momentum — Citi saw a large jump in M&A/advisory fees (reported ~84% growth in advisory fees), which boosted revenue mix and offset some retail headwinds. Citi sees 84% jump in M&A fees (PYMNTS)
• Positive Sentiment: Analyst upgrades and higher targets — Several brokers have lifted forecasts and reiterated bullish views after the quarter, supporting the rally as investors mark up valuations. Analysts increase forecasts (Benzinga)
• Neutral Sentiment: Cost actions signaled — Management reiterated a multi-year productivity/talent reset and CEO Jane Fraser warned more job cuts are likely; markets see this as both a path to improved efficiency and a near-term execution/transition risk. CEO signals more job cuts (TipRanks)
• Neutral Sentiment: Early rounds of layoffs — Citi announced ~1,000 role reductions this week as part of a larger plan; investors weigh cost savings against execution and morale implications. Citi job cuts (Barchart)
• Negative Sentiment: Revenue missed estimates and one-time Russia charge — Total revenue fell short of consensus and the quarter included a ~$1.2B pre-tax loss tied to the planned Russia exit, which trimmed reported profit and raised capital/earnings quality questions. Profit hit by Russia charge (Reuters)
• Negative Sentiment: Regulatory/political overhang on consumer credit — Industry headlines about potential credit-card rate caps are weighing on bank valuations and create an uncertain policy risk to Citi’s card business and future NII. Credit card rate cap risks (CNBC)

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on C shares. Oppenheimer increased their price objective on Citigroup from $141.00 to $144.00 and gave the stock an “outperform” rating in a report on Thursday. UBS Group reiterated a “neutral” rating and issued a $132.00 price target on shares of Citigroup in a research note on Thursday. Wolfe Research reissued an “outperform” rating and set a $141.00 price target on shares of Citigroup in a research report on Wednesday, January 7th. Keefe, Bruyette & Woods upped their price objective on shares of Citigroup from $118.00 to $131.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Finally, TD Cowen lifted their target price on shares of Citigroup from $105.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $124.65.

Citigroup Stock Up 4.4%

NYSE:C opened at $117.32 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.99 and a current ratio of 1.00. The firm has a market cap of $209.92 billion, a P/E ratio of 16.83, a P/E/G ratio of 0.43 and a beta of 1.18. Citigroup Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $124.17. The firm has a 50-day simple moving average of $110.32 and a two-hundred day simple moving average of $100.84.

Citigroup (NYSE:C) last posted its quarterly earnings results on Wednesday, January 14th. The company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.16. Citigroup had a net margin of 8.50% and a return on equity of 8.28%. The firm had revenue of $19.87 billion for the quarter, compared to analysts’ expectations of $20.99 billion. During the same quarter in the prior year, the company posted $1.34 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 2nd will be issued a $0.60 dividend. The ex-dividend date of this dividend is Monday, February 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.0%. Citigroup’s dividend payout ratio (DPR) is presently 34.43%.

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.