Citigroup Inc. $C Shares Bought by Tredje AP fonden

Key Points

• Tredje AP fonden nearly doubled its Citigroup stake in the fourth quarter, buying 200,000 additional shares to bring its total to 417,559 shares valued at about $48.7 million.
• Citigroup reported strong quarterly results, with EPS of $3.06 versus estimates of $2.63 and revenue of $24.63 billion, both topping expectations and rising 14.1% from a year earlier.
• The bank is returning capital to shareholders with a $0.60 quarterly dividend and a new $30 billion share buyback program, while analysts remain mostly positive with a moderate buy consensus and target price around $137.62.

Tredje AP fonden raised its holdings in Citigroup Inc. (NYSE:C - Free Report) by 91.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 417,559 shares of the company's stock after acquiring an additional 200,000 shares during the quarter. Tredje AP fonden's holdings in Citigroup were worth $48,725,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Brighton Jones LLC lifted its stake in Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after buying an additional 12,499 shares in the last quarter. Sivia Capital Partners LLC lifted its stake in Citigroup by 20.5% during the second quarter. Sivia Capital Partners LLC now owns 9,805 shares of the company's stock valued at $835,000 after buying an additional 1,669 shares in the last quarter. United Bank purchased a new stake in Citigroup during the second quarter valued at about $972,000. Osterweis Capital Management Inc. lifted its stake in Citigroup by 3,016.7% during the second quarter. Osterweis Capital Management Inc. now owns 935 shares of the company's stock valued at $80,000 after buying an additional 905 shares in the last quarter. Finally, HUB Investment Partners LLC lifted its stake in Citigroup by 26.9% during the second quarter. HUB Investment Partners LLC now owns 15,287 shares of the company's stock valued at $1,301,000 after buying an additional 3,238 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Price Performance

Shares of C opened at $122.34 on Tuesday. The company has a market capitalization of $208.66 billion, a price-to-earnings ratio of 15.16, a P/E/G ratio of 0.55 and a beta of 1.14. Citigroup Inc. has a fifty-two week low of $71.65 and a fifty-two week high of $135.29. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.99 and a quick ratio of 0.99. The business's 50-day moving average is $119.77 and its 200-day moving average is $114.28.

Citigroup (NYSE:C - Get Free Report) last issued its 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 the consensus estimate of $22.96 billion. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The firm's quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.96 EPS. Equities research analysts expect that Citigroup Inc. will post 10.65 EPS for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Monday, May 4th will be issued a $0.60 dividend. The ex-dividend date is Monday, May 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.0%. Citigroup's dividend payout ratio is currently 29.74%.

Citigroup announced that its board has approved 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 purchase up to 13.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

C has been the subject of a number of analyst reports. Morgan Stanley upped their price objective on shares of Citigroup from $140.00 to $144.00 and gave the company an "overweight" rating in a research note on Wednesday, April 15th. Oppenheimer reaffirmed an "outperform" rating and set a $145.00 price objective on shares of Citigroup in a research note on Friday, May 8th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Citigroup in a research note on Monday, April 20th. Zacks Research lowered shares of Citigroup from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 20th. Finally, Evercore set a $139.00 price objective on shares of Citigroup in a research note on Wednesday, April 15th. One equities research 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 stock. According to MarketBeat.com, Citigroup has an average rating of "Moderate Buy" and an average target price of $137.62.

Insider Transactions at Citigroup

In other news, Director John Cunningham Dugan sold 2,117 shares of the company's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $125.30, for a total value of $265,260.10. Following the transaction, the director owned 12,194 shares in the company, valued at $1,527,908.20. This represents a 14.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Edward Skyler sold 25,000 shares of the company's 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 transaction, the insider owned 182,022 shares in the company, valued at $23,919,511.02. This represents a 12.08% 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.

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup and BlackRock’s HPS announced a €15 billion private capital program to expand direct lending in EMEA, giving Citi another way to grow fee income and deepen its lending franchise. Citigroup and HPS Investment Partners, a part of BlackRock, Announce €15 Billion Private Capital Program to Expand Direct Lending in EMEA
• Positive Sentiment: Citigroup neared final approval for a wholly owned securities firm in China, which would let it directly offer investment banking and brokerage services onshore instead of relying on joint ventures. Citigroup Nears Final Approval for Wholly-Owned China Securities Firm
• Positive Sentiment: Investor sentiment was also helped by a Goldman Sachs Buy rating and $149 price target, with analysts pointing to a cleaner path to improved profitability and higher returns. Citigroup (C) Among the Best Value Stocks to Buy for Long Term Investment
• Neutral Sentiment: Broader financial stocks were higher on Monday afternoon, with the NYSE Financial Index up 1%, providing a mild sector tailwind for Citi. Sector Update: Financial Stocks Higher Monday Afternoon

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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