Brandywine Global Investment Management LLC Sells 83,983 Shares of Citigroup Inc. $C

Brandywine Global Investment Management LLC decreased its position in shares of Citigroup Inc. (NYSE:C) by 3.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,696,496 shares of the company’s stock after selling 83,983 shares during the quarter. Citigroup accounts for 2.1% of Brandywine Global Investment Management LLC’s investment portfolio, making the stock its 5th biggest holding. Brandywine Global Investment Management LLC’s holdings in Citigroup were worth $314,654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after acquiring an additional 12,499 shares in the last quarter. Sivia Capital Partners LLC increased its stake in shares of Citigroup by 20.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 9,805 shares of the company’s stock worth $835,000 after purchasing an additional 1,669 shares during the last quarter. United Bank acquired a new position in shares of Citigroup during the 2nd quarter worth $972,000. Osterweis Capital Management Inc. raised its holdings in shares of Citigroup by 3,016.7% during the 2nd quarter. Osterweis Capital Management Inc. now owns 935 shares of the company’s stock valued at $80,000 after purchasing an additional 905 shares in the last quarter. Finally, HUB Investment Partners LLC raised its holdings in shares of Citigroup by 26.9% during the 2nd quarter. HUB Investment Partners LLC now owns 15,287 shares of the company’s stock valued at $1,301,000 after purchasing an additional 3,238 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

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…

Citigroup Price Performance

Shares of NYSE:C opened at $132.62 on Monday. The company has a market cap of $226.19 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 0.59 and a beta of 1.12. The business has a 50 day moving average price of $124.87 and a 200 day moving average price of $116.89. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.59. Citigroup Inc. has a twelve month low of $76.11 and a twelve month high of $135.83.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $22.96 billion. During the same period in the previous year, the business posted $1.96 EPS. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. Research analysts predict that Citigroup Inc. will post 10.68 earnings per share for the current year.

Citigroup declared that its board has approved a stock repurchase plan on Thursday, May 7th that permits the company to repurchase $30.00 billion in shares. This repurchase authorization permits the company to buy up to 13.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Citigroup Dividend Announcement

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

Insider Buying and Selling at Citigroup

In related news, insider Edward Skyler sold 25,000 shares of the company’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. This represents a 12.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Cunningham Dugan sold 2,117 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $125.30, for a total transaction of $265,260.10. Following the completion of the sale, the director directly owned 12,194 shares of the company’s stock, valued at approximately $1,527,908.20. This trade 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 corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on C shares. Evercore set a $139.00 price objective on shares of Citigroup in a report on Wednesday, April 15th. Zacks Research lowered Citigroup from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $139.00 price target on shares of Citigroup in a research report on Wednesday, April 15th. Wells Fargo & Company increased their price objective on Citigroup from $160.00 to $162.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Finally, Wall Street Zen upgraded Citigroup from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. One equities research 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $137.62.

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.