Jennison Associates LLC Has $2.19 Million Stock Holdings in Citigroup Inc. $C

Key Points

• Jennison Associates LLC slashed its Citigroup stake by 96.6% in the first quarter, selling 545,243 shares and ending with 19,352 shares valued at about $2.19 million.
• Citigroup posted stronger-than-expected quarterly results, with EPS of $3.15 and revenue of $24.75 billion, both beating analyst estimates; revenue also rose 14.5% year over year.
• The bank boosted shareholder returns by authorizing a $30 billion share buyback and raising its quarterly dividend to $0.67 per share from $0.60, reflecting confidence in capital strength.

Jennison Associates LLC decreased its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 96.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,352 shares of the company's stock after selling 545,243 shares during the period. Jennison Associates LLC's holdings in Citigroup were worth $2,195,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Citigroup during the 4th quarter worth approximately $2,800,944,000. Vanguard Group Inc. boosted its stake in Citigroup by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company's stock valued at $19,048,467,000 after buying an additional 4,938,923 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in Citigroup in the fourth quarter valued at $298,082,000. Deutsche Bank AG grew its position in Citigroup by 28.4% in the fourth quarter. Deutsche Bank AG now owns 7,158,142 shares of the company's stock valued at $835,284,000 after acquiring an additional 1,582,150 shares during the period. Finally, Cibc World Markets Corp acquired a new position in Citigroup during the fourth quarter worth $164,463,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 2,117 shares of the 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 represents a 14.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.11% of the stock is currently owned by company insiders.

Citigroup Trading Down 0.3%

Shares of C opened at $132.39 on Thursday. The stock has a fifty day moving average price of $134.70 and a two-hundred day moving average price of $123.67. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 0.99. Citigroup Inc. has a 52-week low of $87.94 and a 52-week high of $147.96. The company has a market cap of $225.80 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 0.60 and a beta of 1.11.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings data on Tuesday, July 14th. The company reported $3.15 EPS for the quarter, topping analysts' consensus estimates of $2.74 by $0.41. The company had revenue of $24.75 billion for the quarter, compared to analyst estimates of $23.74 billion. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The business's revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.96 earnings per share. Analysts predict that Citigroup Inc. will post 11.22 EPS for the current fiscal year.

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

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 3rd will be given a dividend of $0.67 per share. This is a positive change from Citigroup's previous quarterly dividend of $0.60. The ex-dividend date is Monday, August 3rd. This represents a $2.68 annualized dividend and a yield of 2.0%. Citigroup's dividend payout ratio is currently 25.92%.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup reported strong second-quarter results recently, with net income up 45% and revenue reaching a decade high, reinforcing the view that earnings momentum is improving. Citi (C) Q2 2026 Earnings Call Transcript
• Positive Sentiment: The board declared a quarterly dividend of $0.67 per share, an 11.7% increase from the prior payout, signaling confidence in capital strength and shareholder returns. Citigroup Declares Common Stock Dividend
• Positive Sentiment: Citigroup hired five U.S. technology investment banking executives from rivals, a move that could strengthen its franchise in an attractive growth area and support future fee income. Citigroup hires five US tech investment banking executives from rivals
• Positive Sentiment: Analyst commentary remains upbeat, with Zacks highlighting Citi as one of the top big investment banks to own after strong Q2 results and improving earnings estimates. Buy 3 Top-Ranked Big Investment Banks Amid Solid Q2 Earnings & Outlook
• Neutral Sentiment: Citigroup also introduced structured notes linked to the S&P 500 futures index, which is a normal product update and is unlikely to move the stock by itself. Citigroup Introduces Buffered Autocallable Notes Linked to S&P 500 Futures Index Featuring Early Redemption Options

Analyst Ratings Changes

A number of research analysts have issued reports on C shares. Piper Sandler reissued an "overweight" rating and set a $145.00 price objective (up from $125.00) on shares of Citigroup in a report on Wednesday, April 15th. Morgan Stanley upped their target price on shares of Citigroup from $154.00 to $164.00 and gave the stock an "overweight" rating in a report on Monday, June 29th. Jefferies Financial Group initiated coverage on shares of Citigroup in a research report on Thursday, March 26th. They set a "buy" rating and a $135.00 target price for the company. Weiss Ratings reissued a "buy (b)" rating on shares of Citigroup in a report on Friday, July 17th. Finally, Wells Fargo & Company boosted their price target on shares of Citigroup from $162.00 to $165.00 and gave the company an "overweight" rating in a research report on Thursday, June 18th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $145.67.

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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