Citigroup Inc. $C Stock Holdings Lifted by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder AB boosted its Citigroup stake by 7.4% in the fourth quarter, buying 48,139 more shares and bringing its total to 697,054 shares valued at about $81.3 million.
• Citigroup beat quarterly expectations with EPS of $3.06 versus $2.63 forecast and revenue of $24.63 billion versus $22.96 billion expected, while revenue rose 14.1% year over year.
• The bank also announced a $30 billion share buyback and a quarterly dividend of $0.60 per share, underscoring management’s confidence in the stock and ongoing capital returns to shareholders.

Handelsbanken Fonder AB raised its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 7.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 697,054 shares of the company's stock after purchasing an additional 48,139 shares during the quarter. Handelsbanken Fonder AB's holdings in Citigroup were worth $81,339,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Richards Merrill & Peterson Inc. acquired a new stake in Citigroup during the 4th quarter valued at $28,000. Luken Investment Analytics LLC acquired a new stake in Citigroup during the 4th quarter valued at $32,000. High Note Wealth LLC raised its stake in Citigroup by 107.7% during the 4th quarter. High Note Wealth LLC now owns 270 shares of the company's stock valued at $32,000 after purchasing an additional 140 shares during the period. Entrust Financial LLC acquired a new stake in Citigroup during the 4th quarter valued at $34,000. Finally, Maseco LLP acquired a new stake in Citigroup during the 4th quarter valued at $35,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Trading Down 0.9%

Shares of NYSE:C opened at $122.34 on Tuesday. The stock has a market capitalization of $208.66 billion, a PE ratio of 15.16, a P/E/G ratio of 0.55 and a beta of 1.14. Citigroup Inc. has a 1 year low of $71.65 and a 1 year high of $135.29. The firm has a fifty day moving average price of $119.77 and a 200 day moving average price of $114.28. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 earnings per share (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 during the quarter, compared to analysts' expectations of $22.96 billion. During the same period in the prior year, the company posted $1.96 earnings per share. Citigroup's revenue for the quarter was up 14.1% on a year-over-year basis. Analysts expect that Citigroup Inc. will post 10.65 EPS for the current fiscal year.

Citigroup announced that its board has initiated a share buyback plan on Thursday, May 7th that permits the company to buyback $30.00 billion in shares. This buyback authorization permits the company to purchase up to 13.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Citigroup Dividend Announcement

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

Insider Transactions at Citigroup

In other Citigroup news, 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 transaction of $3,285,250.00. Following the completion of the sale, the insider directly owned 182,022 shares in the company, valued at $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 Securities & Exchange Commission, which is available at the SEC website. Also, Director John Cunningham Dugan sold 2,117 shares of the company's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $125.30, for a total transaction of $265,260.10. Following the sale, the director 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 disclosure for this sale is available in the SEC filing. 0.11% of the stock is owned by corporate insiders.

Citigroup News Roundup

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

Wall Street Analysts Forecast Growth

C has been the topic of several recent analyst reports. Wall Street Zen raised shares of Citigroup from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Zacks Research downgraded shares of Citigroup from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 20th. Oppenheimer reissued an "outperform" rating and set a $145.00 target price on shares of Citigroup in a research note on Friday, May 8th. Jefferies Financial Group assumed coverage on shares of Citigroup in a research note on Thursday, March 26th. They set a "buy" rating and a $135.00 target price on the stock. Finally, Piper Sandler reaffirmed 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. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $137.62.

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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