AMF Tjanstepension AB Grows Stock Position in Citigroup Inc. $C

AMF Tjanstepension AB raised its position in Citigroup Inc. (NYSE:C - Free Report) by 1.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,099,751 shares of the company's stock after acquiring an additional 14,792 shares during the quarter. AMF Tjanstepension AB owned 0.06% of Citigroup worth $124,723,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. J. Safra Sarasin Holding AG lifted its stake in shares of Citigroup by 1,867.9% in the first quarter. J. Safra Sarasin Holding AG now owns 245,989 shares of the company's stock worth $27,898,000 after acquiring an additional 233,489 shares in the last quarter. Hibernia Wealth Partners LLC grew its stake in Citigroup by 29.0% during the 1st quarter. Hibernia Wealth Partners LLC now owns 2,637 shares of the company's stock valued at $299,000 after purchasing an additional 593 shares in the last quarter. Procyon Advisors LLC increased its holdings in Citigroup by 3.3% during the 1st quarter. Procyon Advisors LLC now owns 3,295 shares of the company's stock worth $374,000 after purchasing an additional 106 shares during the last quarter. LGT Fund Management Co Ltd. increased its holdings in Citigroup by 152.9% during the 1st quarter. LGT Fund Management Co Ltd. now owns 29,180 shares of the company's stock worth $3,309,000 after purchasing an additional 17,641 shares during the last quarter. Finally, Global Assets Advisory LLC raised its position in shares of Citigroup by 10.3% in the 1st quarter. Global Assets Advisory LLC now owns 2,645 shares of the company's stock valued at $300,000 after purchasing an additional 248 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Insider Transactions at Citigroup

In related news, insider Edward Skyler sold 25,000 shares of the business's stock in a transaction that occurred 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 $23,919,511.02. The trade was a 12.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John Cunningham Dugan sold 2,117 shares of the company's 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 approximately $1,527,908.20. The trade was a 14.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on C shares. Wells Fargo & Company upped their price target on shares of Citigroup from $162.00 to $165.00 and gave the company an "overweight" rating in a report on Thursday, June 18th. Keefe, Bruyette & Woods raised their price objective on shares of Citigroup from $140.00 to $153.00 and gave the stock an "outperform" rating in a report on Friday, May 8th. The Goldman Sachs Group boosted their target price on shares of Citigroup from $137.00 to $151.00 and gave the stock a "buy" rating in a research report on Wednesday, April 15th. Truist Financial increased their price target on shares of Citigroup from $147.00 to $158.00 and gave the stock a "buy" rating in a research report on Friday, June 26th. Finally, Wall Street Zen upgraded Citigroup from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $145.00.

Citigroup Stock Down 0.1%

Shares of NYSE:C opened at $140.67 on Monday. The stock has a market capitalization of $239.92 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 0.66 and a beta of 1.11. Citigroup Inc. has a 1-year low of $85.61 and a 1-year high of $147.96. The company's fifty day moving average is $133.71 and its two-hundred day moving average is $122.88. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.63 by $0.43. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The company had revenue of $24.63 billion for the quarter, compared to the consensus estimate of $22.96 billion. During the same period last year, the firm posted $1.96 EPS. The company's revenue for the quarter was up 14.1% on a year-over-year basis. Equities analysts anticipate that Citigroup Inc. will post 10.89 EPS for the current year.

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

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi is expected to collect about $70 million in fees from the SK Hynix listing, underscoring strength in its capital markets and advisory franchise. Article Title
• Positive Sentiment: Multiple pieces this week describe Citigroup (C) as one of the stronger large-bank names ahead of earnings, supported by resilient trading activity, investment banking momentum, and loan demand. Article Title
• Positive Sentiment: Analyst commentary and TV mentions have also kept Citi in the spotlight as a favored bank stock, suggesting continued institutional confidence in the name. Article Title
• Positive Sentiment: Earlier coverage said Citi’s Q1 results were the strongest among diversified banks, reinforcing the view that the company is executing well relative to peers. Article Title
• Neutral Sentiment: Citi also announced that SCB is now live with its 24/7 USD Clearing and Citi Token Services, a constructive step in digital payments infrastructure, but not a near-term earnings driver. Article Title

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.

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