Citigroup Inc. $C is Hosking Partners LLP's 2nd Largest Position

Key Points

• Hosking Partners LLP increased its Citigroup stake by 1.9% in the fourth quarter, making Citigroup its 2nd largest holding. The fund now owns 1,222,746 shares valued at about $142.7 million.
• Citigroup announced a $30 billion share buyback and set a profitability target of 11% to 13% adjusted return on tangible common equity for 2027-2028, signaling confidence in its turnaround plans.
• The stock has drawn continued Wall Street support, with several firms raising price targets; Citigroup also beat quarterly earnings estimates, reporting $3.06 EPS on $24.63 billion in revenue.

Hosking Partners LLP grew its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 1.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,222,746 shares of the company's stock after buying an additional 23,218 shares during the period. Citigroup accounts for about 4.8% of Hosking Partners LLP's holdings, making the stock its 2nd largest holding. Hosking Partners LLP owned about 0.07% of Citigroup worth $142,682,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in C. Vanguard Group Inc. lifted its holdings in shares of 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. Bank of New York Mellon Corp raised its stake in Citigroup by 17.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 28,125,995 shares of the company's stock valued at $2,854,788,000 after acquiring an additional 4,211,099 shares during the last quarter. Capital World Investors increased its position in 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 during the period. Bessemer Group Inc. increased its position in Citigroup by 6,172.0% during the 3rd quarter. Bessemer Group Inc. now owns 2,904,795 shares of the company's stock worth $294,838,000 after purchasing an additional 2,858,481 shares during the period. Finally, SG Americas Securities LLC increased its position in Citigroup by 291.4% during the 4th quarter. SG Americas Securities LLC now owns 1,319,549 shares of the company's stock worth $153,978,000 after purchasing an additional 2,008,946 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup unveiled a new $30 billion share buyback plan, a strong signal that management sees the stock as undervalued and has confidence in its capital position. RTT News
• Positive Sentiment: The company set a profitability target of 11% to 13% adjusted return on tangible common equity for 2027-2028, with further improvement expected by 2031, reinforcing the turnaround story. Reuters
• Positive Sentiment: Keefe, Bruyette & Woods raised its price target on Citigroup to $153 from $140 and kept an outperform rating, showing Wall Street still sees meaningful upside. Benzinga
• Neutral Sentiment: CEO Jane Fraser said the global economy remains resilient, but warned that the market may not yet fully understand the second- and third-order effects of the Iran war and ongoing inflation pressures. YouTube/CNBC
• Negative Sentiment: Some investors viewed the new profit targets as too modest, suggesting Citigroup may still trail peers longer than hoped despite the overhaul. Quartz

Wall Street Analyst Weigh In

A number of research firms recently weighed in on C. Weiss Ratings restated a "buy (b)" rating on shares of Citigroup in a report on Monday, April 20th. Truist Financial set a $147.00 target price on Citigroup in a research note on Friday, May 1st. The Goldman Sachs Group increased their price target on Citigroup from $137.00 to $151.00 and gave the stock a "buy" rating in a research note on Wednesday, April 15th. Oppenheimer reaffirmed an "outperform" rating and issued a $145.00 target price on shares of Citigroup in a research report on Friday. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $145.00 target price (up from $125.00) on shares of Citigroup in a research report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Citigroup currently has an average rating of "Moderate Buy" and an average target price of $137.62.

Insider Activity at Citigroup

In other Citigroup news, insider Edward Skyler sold 25,000 shares of Citigroup stock in a transaction that occurred on 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 transaction, the insider owned 182,022 shares in the company, valued at approximately $23,919,511.02. The trade was a 12.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Cantu Ernesto Torres sold 43,173 shares of Citigroup stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $111.09, for a total transaction of $4,796,088.57. Following the completion of the transaction, the insider owned 45,835 shares in the company, valued at approximately $5,091,810.15. This trade represents a 48.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 92,318 shares of company stock worth $10,764,814. 0.11% of the stock is currently owned by company insiders.

Citigroup Stock Performance

Shares of NYSE C opened at $125.52 on Monday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.59. The firm's 50-day moving average price is $117.98 and its two-hundred day moving average price is $113.01. Citigroup Inc. has a 52-week low of $71.29 and a 52-week high of $135.29. The stock has a market capitalization of $214.09 billion, a P/E ratio of 15.55, a P/E/G ratio of 0.56 and a beta of 1.14.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, beating analysts' consensus estimates of $2.63 by $0.43. The company had revenue of $24.63 billion for 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%.The business's revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.96 earnings per share. As a group, sell-side analysts forecast that Citigroup Inc. will post 10.65 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Monday, May 4th will be given a $0.60 dividend. The ex-dividend date is Monday, May 4th. This represents a $2.40 annualized dividend and a yield of 1.9%. Citigroup's payout ratio is 29.74%.

Citigroup announced that its Board of Directors has initiated a share repurchase plan on Thursday, May 7th that authorizes the company to buyback $30.00 billion in shares. This buyback authorization authorizes the company to buy up to 13.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

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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