Jennison Associates LLC Grows Stock Position in Citigroup Inc. $C

Key Points

• Jennison Associates increased its stake in Citigroup by 2,496% in the fourth quarter, buying 542,846 shares to hold 564,595 shares worth about $65.9 million.
• Citigroup beat quarterly estimates, reporting $3.06 EPS (vs. $2.63 expected) and $24.63B revenue (up 14.1% YoY), and declared a quarterly dividend of $0.60 ($2.40 annualized, ~1.9% yield).
• Wall Street and corporate momentum are positive: multiple firms (including Goldman Sachs and Oppenheimer) raised price targets and Citi is making senior hires in Asia, supporting buy-side sentiment.

Jennison Associates LLC boosted its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 2,496.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 564,595 shares of the company's stock after buying an additional 542,846 shares during the period. Jennison Associates LLC's holdings in Citigroup were worth $65,883,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Citigroup by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company's stock worth $19,048,467,000 after purchasing an additional 4,938,923 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Citigroup by 17.6% during the third quarter. Bank of New York Mellon Corp now owns 28,125,995 shares of the company's stock worth $2,854,788,000 after purchasing an additional 4,211,099 shares during the last quarter. Capital World Investors lifted its position in shares of Citigroup by 6.5% during the third quarter. Capital World Investors now owns 47,262,626 shares of the company's stock worth $4,797,292,000 after purchasing an additional 2,871,074 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of Citigroup by 6,172.0% during the third quarter. Bessemer Group Inc. now owns 2,904,795 shares of the company's stock worth $294,838,000 after purchasing an additional 2,858,481 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Citigroup by 291.4% during the fourth quarter. SG Americas Securities LLC now owns 1,319,549 shares of the company's stock worth $153,978,000 after purchasing an additional 2,008,946 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: JPMorgan raised its price target on Citigroup to $135.50 and put the stock on an "-overweight" rating, implying further upside and reinforcing buy-side momentum. Read More.
• Positive Sentiment: Erste Group boosted its FY2026 and FY2027 EPS forecasts for Citi (higher earnings outlook supports valuation and buy-side sentiment). Read More.
• Positive Sentiment: Senior hiring and expansion moves: Citi appointed JPMorgan’s Shukla as head of Asia infrastructure and hired senior coverage leaders (Potts) while targeting senior hires in Japan/China — moves that strengthen M&A, infrastructure and cross-border franchises. These hires support revenue growth in higher-fee businesses. Read More.
• Positive Sentiment: Citi was nominated for a BeInCrypto institutional award for leadership in digital asset adoption (CIDAP and token services), highlighting potential growth in fee-based digital services. Read More.
• Neutral Sentiment: Market and regulatory updates: Citi issued participation notifications (technical/regulatory disclosures) — routine but relevant for governance and compliance watchers. Read More.
• Neutral Sentiment: Coverage and media pieces (Zacks, Yahoo) are driving investor attention and conversation around Citi's strategic moves and potential involvement in a complex deal; these are informational and may increase trading volume but are not definitive catalysts. Read More. Read More.
• Neutral Sentiment: Citi’s Japan banking head says the firm seeks expansion there despite a talent crunch — signals ongoing strategic focus on Asian growth, but execution risk remains. Read More.
• Neutral Sentiment: Macro backdrop: the Fed left rates unchanged in a divided vote, a development that keeps loan and deposit margins (and investor sentiment) in focus for banks including Citi. Read More.
• Negative Sentiment: Reputational/legal headline: a report says Citi paid an ex-JPMorgan banker $52M despite allegations of bullying and abusive behavior — a potential reputational and governance overhang that could attract scrutiny and increase legal/compensation questions. Read More.

Insider Buying and Selling at Citigroup

In other news, insider Edward Skyler sold 25,000 shares of the firm's stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $131.41, for a total transaction of $3,285,250.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Cantu Ernesto Torres sold 43,173 shares of the firm's stock in a transaction on Friday, February 13th. The shares were sold at an average price of $111.09, for a total value of $4,796,088.57. Following the transaction, the insider owned 45,835 shares in the company, valued at approximately $5,091,810.15. This represents a 48.50% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 92,318 shares of company stock worth $10,764,814. Insiders own 0.11% of the company's stock.

Citigroup Stock Performance

Shares of Citigroup stock opened at $127.97 on Friday. The firm has a market cap of $219.46 billion, a P/E ratio of 15.86, a P/E/G ratio of 0.57 and a beta of 1.11. The company has a current ratio of 0.99, a quick ratio of 1.00 and a debt-to-equity ratio of 1.59. Citigroup Inc. has a 12 month low of $67.89 and a 12 month high of $135.29. The stock's fifty day moving average price is $117.01 and its 200-day moving average price is $112.16.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, beating the consensus estimate of $2.63 by $0.43. The firm had revenue of $24.63 billion for the quarter, compared to analyst estimates of $22.96 billion. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The business's revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.96 earnings per share. On average, equities research analysts expect that Citigroup Inc. will post 10.66 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on C. Keefe, Bruyette & Woods lifted their target price on Citigroup from $131.00 to $140.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 15th. Oppenheimer lifted their target price on Citigroup from $132.00 to $144.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 15th. The Goldman Sachs Group lifted their target price on Citigroup from $137.00 to $151.00 and gave the stock a "buy" rating in a research report on Wednesday, April 15th. TD Cowen reiterated a "hold" rating on shares of Citigroup in a research report on Wednesday, January 7th. Finally, Piper Sandler reiterated an "overweight" rating and set a $145.00 target price (up from $125.00) on shares of Citigroup in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $136.32.

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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