Citigroup Inc. $C Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS AM reduced its Citigroup stake by 5.3% in the fourth quarter, selling 638,828 shares and leaving it with 11.4 million shares valued at about $1.33 billion. Institutional investors still own the majority of Citigroup’s stock at 71.72%.
• Citigroup posted stronger-than-expected quarterly results, with earnings per share of $3.06 and revenue of $24.63 billion, both ahead of analyst estimates. Revenue rose 14.1% year over year, and analysts now expect full-year EPS of 10.68.
• The bank is returning capital to shareholders through a new $30 billion share repurchase authorization and a quarterly dividend of $0.60 per share, equal to a 1.7% annualized yield. Several analysts also remain bullish, with a consensus rating of “Moderate Buy.”

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in Citigroup Inc. (NYSE:C - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,403,443 shares of the company's stock after selling 638,828 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.64% of Citigroup worth $1,330,668,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Richards Merrill & Peterson Inc. acquired a new stake in Citigroup in the 4th quarter valued at about $28,000. Dunhill Financial LLC raised its holdings in Citigroup by 92.2% in the 3rd quarter. Dunhill Financial LLC now owns 319 shares of the company's stock valued at $32,000 after acquiring an additional 153 shares during the last quarter. Luken Investment Analytics LLC acquired a new stake in Citigroup in the 4th quarter valued at about $32,000. High Note Wealth LLC raised its holdings in Citigroup by 107.7% in the 4th quarter. High Note Wealth LLC now owns 270 shares of the company's stock valued at $32,000 after acquiring an additional 140 shares during the last quarter. Finally, Entrust Financial LLC acquired a new stake in Citigroup in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 71.72% of the company's stock.

Citigroup Stock Performance

NYSE:C opened at $139.68 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $238.23 billion, a P/E ratio of 17.31, a PEG ratio of 0.62 and a beta of 1.12. The company has a 50 day moving average price of $127.34 and a 200 day moving average price of $118.06. Citigroup Inc. has a fifty-two week low of $76.11 and a fifty-two week high of $141.12.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, topping analysts' consensus estimates of $2.63 by $0.43. The firm had revenue of $24.63 billion during the quarter, compared to analysts' expectations of $22.96 billion. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The firm's quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the company posted $1.96 EPS. Equities research analysts forecast that Citigroup Inc. will post 10.68 EPS for the current year.

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

Citigroup Announces Dividend

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

Insider Activity at Citigroup

In other Citigroup news, insider Edward Skyler sold 25,000 shares of the firm's 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 completion of the transaction, the insider owned 182,022 shares of the company's stock, valued at $23,919,511.02. This trade represents a 12.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John Cunningham Dugan sold 2,117 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director directly owned 12,194 shares of the company's stock, valued at $1,527,908.20. This represents a 14.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.11% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Evercore set a $139.00 price target on shares of Citigroup in a research note on Wednesday, April 15th. Piper Sandler reissued an "overweight" rating and issued a $145.00 price target (up from $125.00) on shares of Citigroup in a research note on Wednesday, April 15th. Wells Fargo & Company increased their price target on shares of Citigroup from $160.00 to $162.00 and gave the company 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 note on Saturday, May 9th. Finally, Truist Financial set a $147.00 price target on shares of Citigroup in a research note on Friday, May 1st. One 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 presently has an average rating of "Moderate Buy" and a consensus target price of $137.62.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup launched tokenized Digital Depositary Receipts, creating a new blockchain-based way for clients to gain exposure to private companies and for issuers to tap liquidity, reinforcing Citi’s push into next-generation capital markets. Citigroup Is Rolling Out Tokenized Shares of Private Companies
• Positive Sentiment: Related coverage said Citi is expanding access to private markets with tokenized private-share trading, which could open a new fee-generating business line and strengthen its innovation story with large clients. Citigroup Expands Access to Private Markets With Tokenized Depositary Receipts
• Positive Sentiment: Trump praised Citigroup and CEO Jane Fraser as a top M&A adviser, which helped fuel momentum and reinforced confidence in Citi’s investment banking comeback. Citigroup shares outperform down market after Trump endorsement
• Positive Sentiment: Citi also continued building out its consumer and retail investment banking franchise with a new managing director hire, suggesting management is still investing in growth areas. Citi hires Ryan Beaupré as MD in consumer and retail investment banking push
• Neutral Sentiment: Citi completed the sale of its Polish consumer banking business, continuing its multi-year retreat from underperforming overseas markets. This supports simplification, but it also shows ongoing shrinkage in some international operations. Citi's overseas retreat advances with sale of Polish business
• Neutral Sentiment: Reports that regulators are probing banks’ use of AI could raise compliance scrutiny for the sector, but there was no Citi-specific issue mentioned. Bank Regulators Probe Industry Use of AI

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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