Citigroup Inc. $C Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. cut its Citigroup stake by 26.8% in the fourth quarter, selling 65,912 shares and ending with 180,045 shares valued at about $21.0 million.
• Citigroup reported strong quarterly results, with EPS of $3.06 topping estimates by $0.43 and revenue of $24.63 billion, up 14.1% year over year. The company also approved a $30 billion share buyback, signaling confidence in its valuation.
• Analysts remain broadly constructive on the stock, with a “Moderate Buy” consensus and an average price target of $137.79. However, the article also notes headline risk from a DOJ probe involving transactions tied to a network linked to Iran’s supreme leader.

Pacer Advisors Inc. lessened its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 26.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 180,045 shares of the company's stock after selling 65,912 shares during the quarter. Pacer Advisors Inc.'s holdings in Citigroup were worth $21,009,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of C. Mcguire Capital Advisors Inc. acquired a new stake in shares of Citigroup during the fourth quarter worth about $25,000. Richards Merrill & Peterson Inc. acquired a new position in Citigroup in the 4th quarter worth approximately $28,000. Luken Investment Analytics LLC acquired a new position in Citigroup in the 4th quarter worth approximately $32,000. High Note Wealth LLC increased its holdings in Citigroup by 107.7% in the 4th quarter. High Note Wealth LLC now owns 270 shares of the company's stock worth $32,000 after buying an additional 140 shares during the period. Finally, Entrust Financial LLC purchased a new position in Citigroup during the 4th quarter worth approximately $34,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Citigroup news, Director John Cunningham Dugan sold 2,117 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $125.30, for a total transaction of $265,260.10. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction of $3,285,250.00. Following the completion of the sale, the insider owned 182,022 shares in the company, valued at approximately $23,919,511.02. This trade represents a 12.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.11% of the company's stock.

Key Citigroup News

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

Citigroup Stock Up 0.2%

Citigroup stock opened at $143.37 on Friday. The stock has a market capitalization of $244.52 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12. Citigroup Inc. has a 12 month low of $77.50 and a 12 month high of $147.96. The business has a 50 day simple moving average of $129.86 and a 200-day simple moving average of $119.49. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.99 and a quick ratio of 0.99.

Citigroup (NYSE:C - Get Free Report) last announced its earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.63 by $0.43. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The firm had revenue of $24.63 billion for the quarter, compared to analyst estimates of $22.96 billion. During the same quarter last year, the firm posted $1.96 EPS. The business's revenue was up 14.1% on a year-over-year basis. On average, analysts anticipate that Citigroup Inc. will post 10.72 EPS for the current fiscal year.

Citigroup announced that its board has approved a stock buyback program on Thursday, May 7th that permits the company to buyback $30.00 billion in shares. This buyback authorization permits the company to repurchase up to 13.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its shares are undervalued.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were given a dividend of $0.60 per share. The ex-dividend date 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 currently 29.74%.

Analysts Set New Price Targets

Several analysts have commented on C shares. Jefferies Financial Group began coverage on shares of Citigroup in a research note on Thursday, March 26th. They set a "buy" rating and a $135.00 price objective for the company. Royal Bank Of Canada reissued an "outperform" rating and set a $139.00 target price on shares of Citigroup in a report on Wednesday, April 15th. Truist Financial set a $147.00 target price on shares of Citigroup in a research report on Friday, May 1st. JPMorgan Chase & Co. boosted their target price on shares of Citigroup from $131.00 to $135.50 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $145.00 price target (up from $125.00) on shares of Citigroup in a report 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 company's stock. According to data from MarketBeat, Citigroup presently has an average rating of "Moderate Buy" and a consensus price target of $137.79.

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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