Andra AP fonden Sells 25,600 Shares of Citigroup Inc. $C

Key Points

• Andra AP fonden reduced its Citigroup stake by 8.2% in the fourth quarter, selling 25,600 shares and leaving it with 285,400 shares valued at about $33.3 million.
• Several major analysts remain constructive on Citigroup, with recent price-target hikes from firms including Wells Fargo, Piper Sandler, Barclays, and Keefe, Bruyette & Woods. The stock’s consensus rating is Moderate Buy, with an average target price of $137.62.
• Citigroup posted a solid quarter, beating earnings and revenue estimates, while also announcing a $30 billion share buyback and a quarterly dividend of $0.60 per share, signaling confidence in capital returns.

Andra AP fonden lowered its holdings in Citigroup Inc. (NYSE:C - Free Report) by 8.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 285,400 shares of the company's stock after selling 25,600 shares during the quarter. Andra AP fonden's holdings in Citigroup were worth $33,303,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Citigroup by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company's stock worth $19,048,467,000 after purchasing an additional 4,938,923 shares in the last quarter. Capital World Investors grew its holdings in shares of Citigroup by 6.5% during the 3rd quarter. Capital World Investors now owns 47,262,626 shares of the company's stock worth $4,797,292,000 after purchasing an additional 2,871,074 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Citigroup by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 43,252,372 shares of the company's stock worth $5,036,712,000 after purchasing an additional 189,548 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Citigroup by 4.0% during the 4th quarter. Franklin Resources Inc. now owns 34,196,783 shares of the company's stock worth $3,990,422,000 after purchasing an additional 1,326,224 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Citigroup by 2.6% during the 4th quarter. Fisher Asset Management LLC now owns 33,887,285 shares of the company's stock worth $3,954,307,000 after purchasing an additional 846,772 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on C shares. Wells Fargo & Company boosted their price target on Citigroup from $160.00 to $162.00 and gave the company an "overweight" rating in a research note on Wednesday, April 29th. Piper Sandler restated an "overweight" rating and set a $145.00 target price (up from $125.00) on shares of Citigroup in a research report on Wednesday, April 15th. Barclays lifted their price objective on Citigroup from $146.00 to $154.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 15th. Truist Financial set a $147.00 price objective on Citigroup in a research note on Friday, May 1st. Finally, Keefe, Bruyette & Woods lifted their price objective on Citigroup from $140.00 to $153.00 and gave the stock an "outperform" rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Citigroup currently has an average rating of "Moderate Buy" and a consensus price target of $137.62.

Insider Activity at Citigroup

In other Citigroup news, insider Edward Skyler sold 25,000 shares of the company'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 value of $3,285,250.00. Following the sale, the insider owned 182,022 shares in the company, valued at $23,919,511.02. This represents a 12.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Cunningham Dugan sold 2,117 shares of the company's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $125.30, for a total value of $265,260.10. Following the completion of the sale, the director owned 12,194 shares in the company, valued at $1,527,908.20. This represents a 14.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.11% of the stock is owned by corporate insiders.

Citigroup Stock Up 3.4%

NYSE:C opened at $137.89 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. The stock has a market cap of $235.18 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 0.60 and a beta of 1.12. The stock has a 50-day moving average price of $126.85 and a two-hundred day moving average price of $117.91. Citigroup Inc. has a 1 year low of $76.11 and a 1 year high of $138.23.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.43. The company had revenue of $24.63 billion during the quarter, compared to analysts' expectations of $22.96 billion. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.Citigroup's revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.96 earnings per share. As a group, equities analysts expect that Citigroup Inc. will post 10.68 earnings per share for the current year.

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 issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.7%. The ex-dividend date was Monday, May 4th. Citigroup's dividend payout ratio is presently 29.74%.

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

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup is rolling out tokenized depositary receipts for private-company shares, a move that could broaden access to private markets and create a new growth avenue for the bank. Article title
• Positive Sentiment: Reuters reported that Citi hired Ryan Beaupré as a managing director in its consumer and retail investment banking group, signaling continued effort to expand the franchise and deepen client coverage. Article title
• Positive Sentiment: Citigroup’s recent earnings beat and revenue growth continue to support the stock, with Q1 EPS and revenue both topping expectations and underscoring improving operating momentum. Article title
• Neutral Sentiment: President Trump publicly praised Citigroup and CEO Jane Fraser for M&A advisory work, which helped sentiment, but some reports noted the ranking was overstated, limiting the fundamental impact. Article title
• Neutral Sentiment: Market commentary also pointed to Citigroup’s turnaround progress, solid trading conditions, and a constructive investment banking outlook, which supports the stock but is largely a continuation of existing optimism. Article title

Citigroup 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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