2,479,813 Shares in Citigroup Inc. $C Bought by Nykredit A S

Key Points

• Nykredit A S acquired 2.48 million Citigroup shares worth approximately $347.1 million, making Citi 1.1% of its portfolio and its 13th-largest holding. Institutional investors and hedge funds own 71.72% of Citigroup.
• Citigroup reported quarterly EPS of $3.15, beating estimates of $2.74, while revenue rose 14.5% year over year to $24.77 billion. The company also increased its quarterly dividend to $0.67 per share, implying a 2.0% yield.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and a $145.22 target price, though concerns include a potential $9 billion translation loss from the Banamex exit and recent downgrades to “Hold.”

Nykredit A S acquired a new position in shares of Citigroup Inc. (NYSE:C - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,479,813 shares of the company's stock, valued at approximately $347,075,000. Citigroup comprises about 1.1% of Nykredit A S's investment portfolio, making the stock its 13th largest position. Nykredit A S owned approximately 0.15% of Citigroup as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of C. Range Advisory LLC raised its stake in Citigroup by 52.5% during the 2nd quarter. Range Advisory LLC now owns 5,730 shares of the company's stock valued at $802,000 after acquiring an additional 1,973 shares during the last quarter. Cornerstone Financial Management LLC increased its holdings in shares of Citigroup by 34.5% in the second quarter. Cornerstone Financial Management LLC now owns 413 shares of the company's stock valued at $58,000 after purchasing an additional 106 shares during the period. Formuepleje A S raised its stake in shares of Citigroup by 8.2% during the second quarter. Formuepleje A S now owns 56,473 shares of the company's stock worth $7,904,000 after purchasing an additional 4,278 shares during the last quarter. Wellington Grp LLC raised its stake in shares of Citigroup by 9.7% during the second quarter. Wellington Grp LLC now owns 13,560 shares of the company's stock worth $1,898,000 after purchasing an additional 1,200 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Citigroup during the second quarter worth $67,504,000. 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: Citibank raised its base lending rate to 7.00% from 6.75%, which could support net interest income and loan yields, provided deposit costs do not rise as quickly. Citi Raises Base Rate
• Positive Sentiment: One analysis argues that Wall Street may have overestimated the negative effect of the Fed’s rate hike on Citigroup’s spreads, suggesting the recent weakness could represent an overreaction. Higher rates may ultimately benefit lending profitability if Citi maintains disciplined deposit pricing. Wall Street May Have Overpriced the Fed Rate Hike’s Impact on Citigroup Stock Spreads
• Neutral Sentiment: Citigroup disclosed that it crossed a 3% threshold in Solvay through equivalent financial instruments, reaching 3.07%. The filing appears regulatory and does not indicate a material change to Citi’s operating outlook. Participation notifications by Citigroup Inc.
• Negative Sentiment: Citigroup’s Banamex exit is nearing deconsolidation, with an estimated $9 billion cumulative translation adjustment loss expected to affect reported earnings. Although the charge is reportedly unlikely to materially reduce regulatory capital, it may weigh on near-term earnings sentiment. C’s Banamex Exit Nears Deconsolidation
• Negative Sentiment: Zacks Research downgraded Citigroup from “Strong Buy” to “Hold,” adding to investor caution after the stock’s recent performance and amid uncertainty over rate-sensitive spreads and the Banamex accounting impact.

Wall Street Analysts Forecast Growth

C has been the topic of several recent research reports. Bank of America boosted their price objective on shares of Citigroup from $170.00 to $176.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. Zacks Research downgraded shares of Citigroup from a "strong-buy" rating to a "hold" rating in a report on Monday. Argus set a $150.00 target price on shares of Citigroup in a report on Wednesday, July 15th. Truist Financial dropped their price target on shares of Citigroup from $158.00 to $154.00 and set a "buy" rating on the stock in a research note on Wednesday, July 15th. Finally, Wall Street Zen cut shares of Citigroup from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $145.22.

Citigroup Stock Performance

NYSE:C opened at $132.63 on Friday. The firm's fifty day simple moving average is $134.53 and its 200-day simple moving average is $128.99. 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 stock has a market cap of $226.22 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 0.60 and a beta of 1.12. Citigroup Inc. has a fifty-two week low of $93.66 and a fifty-two week high of $147.96.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data on Tuesday, July 14th. The company reported $3.15 EPS for the quarter, beating the consensus estimate of $2.74 by $0.41. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The firm had revenue of $24.77 billion during the quarter, compared to analysts' expectations of $23.74 billion. During the same quarter last year, the business earned $1.96 earnings per share. The business's revenue for the quarter was up 14.5% compared to the same quarter last year. Analysts expect that Citigroup Inc. will post 11.2 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 3rd were paid a dividend of $0.67 per share. This is a positive change from Citigroup's previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $2.68 annualized dividend and a dividend yield of 2.0%. Citigroup's dividend payout ratio is presently 28.94%.

About Citigroup

Citigroup Inc NYSE: C is a global financial services company headquartered in New York City. Through its businesses, Citi provides banking, lending, credit card, wealth management, investment banking, securities, markets and treasury services to individuals, businesses, financial institutions and governments.

The company's operations include U.S. Personal Banking, which offers consumer banking, credit cards and lending products; Wealth Management, which serves affluent and high-net-worth clients; and its Institutional Clients Group, which provides investment banking, corporate banking, markets, securities services and transaction banking.

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