BI Asset Management Fondsmaeglerselskab A S Has $15.55 Million Stock Position in Citigroup Inc. $C

Key Points

• BI Asset Management cut its Citigroup stake by 50.1% in the first quarter, selling 137,642 shares and leaving it with 137,116 shares worth about $15.55 million.
• Citigroup’s institutional ownership remains high, with large investors like Vanguard, Capital World Investors, and Geode Capital Management continuing to hold significant positions; overall, institutions own 71.72% of the stock.
• The company has positive analyst support and strong recent results, including an earnings beat, a $30 billion share buyback, and a quarterly dividend of $0.60 per share.

BI Asset Management Fondsmaeglerselskab A S trimmed its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 50.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 137,116 shares of the company's stock after selling 137,642 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Citigroup were worth $15,550,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of C. Vanguard Group Inc. raised its position in Citigroup by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company's stock valued at $19,048,467,000 after purchasing an additional 4,938,923 shares during the last quarter. Capital World Investors lifted its stake in shares of Citigroup by 6.5% during the third quarter. Capital World Investors now owns 47,262,626 shares of the company's stock valued at $4,797,292,000 after acquiring an additional 2,871,074 shares during the period. Geode Capital Management LLC boosted its stake in shares of Citigroup by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 43,252,372 shares of the company's stock valued at $5,036,712,000 after purchasing an additional 189,548 shares during the last quarter. Franklin Resources Inc. boosted its stake in Citigroup by 4.0% in the fourth quarter. Franklin Resources Inc. now owns 34,196,783 shares of the company's stock valued at $3,990,422,000 after acquiring an additional 1,326,224 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of Citigroup by 2.6% in the 4th quarter. Fisher Asset Management LLC now owns 33,887,285 shares of the company's stock valued at $3,954,307,000 after purchasing an additional 846,772 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Citigroup news, Director John Cunningham Dugan sold 2,117 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $125.30, for a total transaction of $265,260.10. Following the completion of the transaction, the director owned 12,194 shares in the company, valued at approximately $1,527,908.20. This represents a 14.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Edward Skyler sold 25,000 shares of Citigroup stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $131.41, for a total value of $3,285,250.00. Following the completion of the sale, 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 SEC filing for this sale provides additional information. 0.11% of the stock is currently owned by corporate insiders.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi’s latest macro view suggests the Federal Reserve may keep rates higher for longer, which could boost net interest income for Citigroup (C) if short-term yields remain elevated. Citi Predicts Fed Rate Cuts Will Come Later Than Expected
• Positive Sentiment: The bank also announced a leadership move in Asia, appointing JianXun Toh to lead corporate banking in Japan, Asia North and Australia, reinforcing its push to grow institutional banking in a key region. Citigroup (C) Appoints JianXun Toh To Lead Corporate Banking In JANA
• Positive Sentiment: Analyst sentiment remains supportive, with Citigroup receiving a consensus “Moderate Buy” rating, which can help reinforce investor confidence in the stock. Citigroup Inc. NYSE: C Receives Consensus Recommendation of "Moderate Buy" from Analysts
• Neutral Sentiment: Citi also highlighted innovation in asset management with a new report on “operational alpha,” underscoring its broader financial-services research franchise, though the direct stock impact is limited. Citi and CREATE-Research Report: Innovation in Asset Management Pivots to ‘Operational Alpha’
• Negative Sentiment: A Reuters/Fox Business report said the Justice Department is probing transactions tied to a network linked to Iran’s supreme leader, including possible connections to Wall Street firms such as Citigroup, creating headline risk for the bank. DOJ probes JPMorgan, Citigroup transactions tied to Iran supreme leader's business network

Analyst Upgrades and Downgrades

C has been the subject of a number of analyst reports. Oppenheimer reaffirmed an "outperform" rating and set a $145.00 price objective on shares of Citigroup in a research note on Friday, May 8th. Morgan Stanley raised their target price on Citigroup from $140.00 to $144.00 and gave the stock an "overweight" rating in a report on Wednesday, April 15th. Piper Sandler reaffirmed an "overweight" rating and issued a $145.00 price target (up from $125.00) on shares of Citigroup in a research note on Wednesday, April 15th. Wall Street Zen raised shares of Citigroup from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Finally, Barclays boosted their price objective on shares of Citigroup from $146.00 to $154.00 and gave the company an "overweight" rating in a report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $137.79.

Citigroup Price Performance

Shares of C opened at $143.37 on Friday. The stock has a 50 day simple moving average of $129.86 and a 200 day simple moving average of $119.49. Citigroup Inc. has a 52-week low of $77.50 and a 52-week high of $147.96. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market capitalization of $244.52 billion, a PE ratio of 17.77, a P/E/G ratio of 0.64 and a beta of 1.12.

Citigroup (NYSE:C - Get Free Report) last announced its 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. The firm had revenue of $24.63 billion for the quarter, compared to the consensus estimate of $22.96 billion. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The business's quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the company posted $1.96 EPS. Sell-side analysts predict that Citigroup Inc. will post 10.72 EPS for the current fiscal year.

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

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were paid a $0.60 dividend. 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 1.7%. Citigroup's dividend payout ratio is presently 29.74%.

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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