BI Asset Management Fondsmaeglerselskab A S Raises Position in Citigroup Inc. $C

BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Citigroup Inc. (NYSE:C) by 27.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 274,758 shares of the company’s stock after purchasing an additional 58,600 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Citigroup were worth $32,062,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of C. Vanguard Group Inc. grew its stake in Citigroup by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company’s stock valued at $19,048,467,000 after buying an additional 4,938,923 shares in the last quarter. Capital World Investors grew its stake in Citigroup by 6.5% in the 3rd quarter. Capital World Investors now owns 47,262,626 shares of the company’s stock valued at $4,797,292,000 after buying an additional 2,871,074 shares in the last quarter. Geode Capital Management LLC grew its stake in Citigroup by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 43,252,372 shares of the company’s stock valued at $5,036,712,000 after buying an additional 189,548 shares in the last quarter. Fisher Asset Management LLC grew its stake in Citigroup by 2.6% in the 4th quarter. Fisher Asset Management LLC now owns 33,887,285 shares of the company’s stock valued at $3,954,307,000 after buying an additional 846,772 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Citigroup by 1.8% in the 3rd quarter. Franklin Resources Inc. now owns 32,870,559 shares of the company’s stock valued at $3,336,362,000 after buying an additional 580,027 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Insiders Place Their Bets

In other news, insider Edward Skyler sold 25,000 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were 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 directly owned 182,022 shares in the company, valued at $23,919,511.02. The trade was a 12.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Cunningham Dugan sold 2,117 shares of Citigroup stock in a transaction on Friday, May 8th. The stock was 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 $1,527,908.20. This represents a 14.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.11% of the stock is owned by insiders.

Citigroup Stock Down 1.9%

C opened at $132.62 on Friday. The company has a fifty day moving average price of $124.87 and a 200-day moving average price of $116.75. The firm has a market capitalization of $226.19 billion, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 0.60 and a beta of 1.12. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.99 and a quick ratio of 0.99. Citigroup Inc. has a one year low of $76.11 and a one year high of $135.83.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.63 by $0.43. The firm had revenue of $24.63 billion during the quarter, compared to analyst estimates of $22.96 billion. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.96 EPS. Equities research analysts expect that Citigroup Inc. will post 10.68 earnings per share for the current fiscal year.

Citigroup announced that its board has initiated a share repurchase program on Thursday, May 7th that authorizes the company to buyback $30.00 billion in shares. This buyback authorization authorizes the company to purchase up to 13.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Monday, May 4th. Citigroup’s payout ratio is 29.74%.

Analysts Set New Price Targets

A number of research firms recently weighed in on C. Wall Street Zen upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Truist Financial set a $147.00 price objective on shares of Citigroup in a research note on Friday, May 1st. Keefe, Bruyette & Woods lifted their price objective on shares of Citigroup from $140.00 to $153.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Morgan Stanley lifted their price objective on shares of Citigroup from $140.00 to $144.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Finally, Jefferies Financial Group began coverage on shares of Citigroup in a research note on Thursday, March 26th. They issued a “buy” rating and a $135.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and an average price target of $137.62.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• 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…

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.