Capital Research Global Investors Sells 7,605 Shares of Citigroup Inc. $C

Capital Research Global Investors lowered its stake in shares of Citigroup Inc. (NYSE:C) by 0.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,543,822 shares of the company’s stock after selling 7,605 shares during the quarter. Capital Research Global Investors owned 0.25% of Citigroup worth $530,219,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of C. Norges Bank bought a new stake in Citigroup during the fourth quarter worth $2,800,944,000. Vanguard Group Inc. grew its holdings in Citigroup by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company’s stock worth $19,048,467,000 after buying an additional 4,938,923 shares in the last quarter. Capital World Investors grew its holdings in Citigroup by 6.5% during the third quarter. Capital World Investors now owns 47,262,626 shares of the company’s stock worth $4,797,292,000 after buying an additional 2,871,074 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in Citigroup during the fourth quarter worth $298,082,000. Finally, SG Americas Securities LLC grew its holdings in Citigroup by 291.4% during the fourth quarter. SG Americas Securities LLC now owns 1,319,549 shares of the company’s stock worth $153,978,000 after buying an additional 2,008,946 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Up 0.1%

Shares of NYSE:C opened at $132.62 on Monday. The company has a market capitalization of $226.19 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 0.59 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. The business has a fifty day moving average price of $124.87 and a two-hundred day moving average price of $116.89. Citigroup Inc. has a 1 year low of $76.11 and a 1 year high of $135.83.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 earnings per share (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 the consensus estimate of $22.96 billion. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.96 EPS. Analysts forecast that Citigroup Inc. will post 10.68 earnings per share for the current year.

Citigroup Announces Dividend

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

Citigroup declared that its board has authorized a stock repurchase program on Thursday, May 7th that permits the company to buyback $30.00 billion in shares. This buyback authorization permits the company to reacquire up to 13.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on C shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Citigroup in a report on Monday, April 20th. JPMorgan Chase & Co. upped their price objective on Citigroup from $131.00 to $135.50 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Keefe, Bruyette & Woods upped their price objective on Citigroup from $140.00 to $153.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Morgan Stanley upped their price objective on Citigroup from $140.00 to $144.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Finally, Oppenheimer restated an “outperform” rating and issued a $145.00 price objective on shares of Citigroup in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and an average price target of $137.62.

Insider Buying and Selling at Citigroup

In other news, 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 transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 owned 12,194 shares of the company’s stock, valued at $1,527,908.20. The trade was a 14.79% decrease in their position. The SEC filing for this sale provides additional information. 0.11% of the stock is currently owned by corporate insiders.

Citigroup News Roundup

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…

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.