Citigroup Inc. $C Shares Bought by Intech Investment Management LLC

Key Points

• Intech Investment Management more than doubled its Citigroup stake in the fourth quarter, buying an additional 198,777 shares and bringing its total to 370,671 shares worth about $43.3 million.
• Citigroup’s recent earnings were strong, with EPS of $3.06 versus $2.63 expected and revenue of $24.63 billion, up 14.1% year over year. Analysts also remain upbeat, with several buy/overweight ratings and an average price target of $137.62.
• The company recently boosted shareholder returns by announcing a $30 billion stock buyback and paying a quarterly dividend of $0.60 per share, equal to a 1.9% annualized yield.

Intech Investment Management LLC boosted its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 115.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 370,671 shares of the company's stock after buying an additional 198,777 shares during the quarter. Intech Investment Management LLC's holdings in Citigroup were worth $43,254,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. CFS Investment Advisory Services LLC boosted its stake in shares of Citigroup by 0.8% in the 4th quarter. CFS Investment Advisory Services LLC now owns 20,517 shares of the company's stock valued at $2,394,000 after buying an additional 170 shares during the period. Foundations Investment Advisors LLC boosted its stake in shares of Citigroup by 11.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 562,518 shares of the company's stock valued at $65,640,000 after buying an additional 55,813 shares during the period. Baker Avenue Asset Management LP boosted its stake in shares of Citigroup by 15.9% in the 4th quarter. Baker Avenue Asset Management LP now owns 41,638 shares of the company's stock valued at $4,859,000 after buying an additional 5,704 shares during the period. Godfrey Financial Associates Inc. purchased a new position in shares of Citigroup in the 4th quarter valued at about $496,000. Finally, IFG Advisory LLC purchased a new stake in Citigroup during the fourth quarter worth approximately $662,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Analyst commentary points to Citigroup’s revenue growth potential through 2026, driven by loan demand, private credit expansion, and continued restructuring/transformation progress. Top Research Reports for Citigroup, TotalEnergies & AppLovin
• Positive Sentiment: Recent earnings momentum remains a tailwind: Citigroup beat consensus expectations last quarter and posted double-digit revenue growth year over year, reinforcing the case that the turnaround is gaining traction.
• Positive Sentiment: Wall Street sentiment remains favorable overall, with recent buy/overweight ratings and several higher price targets suggesting analysts still see upside in Citigroup (C).
• Neutral Sentiment: Several articles compared Citigroup’s performance with peers such as Goldman Sachs and BGC Group, but these were mostly valuation and relative-performance discussions rather than new fundamental developments. Goldman vs. Citigroup: Which Financial Giant Should You Pick Now?
• Neutral Sentiment: Social-media chatter around the stock largely focused on Citi’s recent earnings beat and sector strength, but did not introduce a materially new catalyst.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on C shares. Evercore set a $139.00 target price on Citigroup in a research note on Wednesday, April 15th. Oppenheimer restated an "outperform" rating and set a $145.00 target price on shares of Citigroup in a research note on Friday, May 8th. Wells Fargo & Company boosted their target price on Citigroup from $160.00 to $162.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 29th. Wall Street Zen raised shares of Citigroup from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. 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 investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Citigroup presently has an average rating of "Moderate Buy" and an average price target of $137.62.

Citigroup Price Performance

Shares of NYSE C opened at $124.76 on Friday. Citigroup Inc. has a twelve month low of $74.30 and a twelve month high of $135.29. 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 50 day moving average of $122.55 and a two-hundred day moving average of $115.62. The stock has a market cap of $212.79 billion, a P/E ratio of 15.46, 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 EPS for the quarter, topping the consensus estimate of $2.63 by $0.43. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The business had revenue of $24.63 billion during the quarter, compared to analysts' expectations of $22.96 billion. During the same quarter in the prior year, the business earned $1.96 earnings per share. The company's quarterly revenue was up 14.1% compared to the same quarter last year. On average, research analysts forecast that Citigroup Inc. will post 10.68 earnings per share for the current year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Monday, May 4th. Citigroup's dividend payout ratio (DPR) is 29.74%.

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

Insider Buying and Selling at Citigroup

In other Citigroup news, insider Edward Skyler sold 25,000 shares of the 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 completion of the transaction, the insider owned 182,022 shares in the company, valued at approximately $23,919,511.02. This represents a 12.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Cunningham Dugan sold 2,117 shares of the 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 completion of the transaction, the director owned 12,194 shares of the company's stock, valued at $1,527,908.20. The trade was a 14.79% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.11% of the company's stock.

About Citigroup

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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