Citigroup Inc. $C Shares Bought by Groupama Asset Managment

Key Points

• Groupama Asset Managment increased its Citigroup stake by 1.6% in the fourth quarter, and several other institutional investors also boosted positions. Institutional ownership remains high at 71.72%.
• Citigroup reported strong quarterly results, with EPS of $3.06 versus the $2.63 consensus and revenue of $24.63 billion, up 14.1% year over year. Analysts currently have a Moderate Buy rating on average, with an average price target of $137.79.
• The company recently paid a quarterly dividend of $0.60 per share and authorized a $30 billion share repurchase program. This signals management’s confidence in the stock and provides support for shareholder returns.

Groupama Asset Managment raised its stake in Citigroup Inc. (NYSE:C - Free Report) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 479,516 shares of the company's stock after purchasing an additional 7,715 shares during the quarter. Groupama Asset Managment's holdings in Citigroup were worth $55,955,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Truist Financial Corp raised its position in Citigroup by 4.7% during the 4th quarter. Truist Financial Corp now owns 375,977 shares of the company's stock worth $43,873,000 after buying an additional 16,744 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its stake in shares of Citigroup by 17.3% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 663,416 shares of the company's stock worth $67,337,000 after acquiring an additional 98,082 shares during the period. Gunderson Capital Management Inc. purchased a new stake in shares of Citigroup in the fourth quarter valued at about $7,165,000. Brighton Jones LLC boosted its holdings in shares of Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after acquiring an additional 12,499 shares in the last quarter. Finally, UniSuper Management Pty Ltd increased its stake in shares of Citigroup by 38.8% during the fourth quarter. UniSuper Management Pty Ltd now owns 1,306,851 shares of the company's stock worth $152,496,000 after acquiring an additional 365,041 shares during the period. Institutional investors and hedge funds own 71.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on C. Royal Bank Of Canada reissued an "outperform" rating and set a $139.00 price target on shares of Citigroup in a report on Wednesday, April 15th. Truist Financial set a $147.00 target price on Citigroup in a research report on Friday, May 1st. Zacks Research downgraded Citigroup from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 20th. Wall Street Zen raised Citigroup from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Finally, Wells Fargo & Company raised their price target on Citigroup from $162.00 to $165.00 and gave the company an "overweight" rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $137.79.

Citigroup Stock Down 0.3%

Shares of NYSE C opened at $143.37 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.59. Citigroup Inc. has a 52 week low of $77.50 and a 52 week high of $147.96. The firm has a 50-day moving average price of $129.47 and a 200 day moving average price of $119.32. The stock has a market capitalization of $244.52 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 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 firm had revenue of $24.63 billion for the quarter, compared to the consensus estimate of $22.96 billion. During the same quarter in the previous year, the firm earned $1.96 earnings per share. The firm's revenue was up 14.1% on a year-over-year basis. Equities research analysts anticipate that Citigroup Inc. will post 10.68 EPS for the current fiscal year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Monday, May 4th. Citigroup's dividend payout ratio (DPR) is presently 29.74%.

Citigroup declared that its board has initiated a stock repurchase program on Thursday, May 7th that permits the company to buyback $30.00 billion in shares. This buyback authorization permits the company to reacquire up to 13.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company's leadership believes its stock is undervalued.

Insider Activity at Citigroup

In related news, Director John Cunningham Dugan sold 2,117 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director directly owned 12,194 shares of the company's stock, valued at $1,527,908.20. This trade represents a 14.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Edward Skyler sold 25,000 shares of Citigroup stock in a transaction 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 transaction, the insider directly owned 182,022 shares of the company's stock, valued at approximately $23,919,511.02. This represents a 12.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.11% of the stock is owned by insiders.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi’s own research still expects the U.S. Federal Reserve to cut interest rates later this year, which could eventually support loan demand and market activity if inflation and employment soften in the second half. Citigroup (C) Still Expects the U.S. Federal Reserve to Cut Interest Rates This Year
• Positive Sentiment: Citigroup announced a senior hiring in its EMEA investment banking franchise, bringing in William Mansfield from Deutsche Bank to lead M&A in the region, a sign it is investing in fee-generating advisory growth. Citi hires Deutsche's Mansfield to lead EMEA M&A -memo
• Positive Sentiment: Citigroup also launched new research with CREATE-Research on innovation in asset management, reinforcing its positioning in institutional services and client solutions. Citi and CREATE-Research Report: Innovation in Asset Management Pivots to ‘Operational Alpha'
• Neutral Sentiment: Citi’s outlook for Fed cuts was pushed back, with the bank now expecting 25-basis-point reductions in October and December rather than earlier in the year. That change is more a timing shift than a thesis break, but it suggests a less favorable near-term rate backdrop for banks. Citi Predicts Fed Rate Cuts Will Come Later Than Expected
• Neutral Sentiment: Trading activity showed unusually heavy call-option buying in Citigroup, which can indicate bullish speculation or hedging ahead of catalysts. Citigroup options activity
• Negative Sentiment: Higher-for-longer rate commentary from the Fed is a headwind for bank stocks in the near term because it can pressure funding costs and credit quality, even if it helps net interest income initially. Fed Holds Rates But Signals Hike: Key Takeaways for Bank Investors
• Negative Sentiment: Media reports about lawsuits and former-executive allegations tied to Trump-related account handling add a legal and reputational overhang for Citigroup. Citigroup faces lawsuit over alleged Trump-linked account issues

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.

Want to see what other hedge funds are holding C? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citigroup Inc. (NYSE:C - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.