Mackenzie Financial Corp Acquires 78,035 Shares of Citigroup Inc. $C

Key Points

• Mackenzie Financial Corp increased its Citigroup stake by 3.4%, purchasing 78,035 shares in Q3 to hold 2,377,488 shares (about 0.13%) valued at $241.3 million.
• Other large institutions also moved in size — notably Norges Bank opened a new stake (~$2.456 billion) while BNY Mellon, Capital World Investors and others materially raised positions, leaving roughly 71.7% of the stock held by institutional investors.
• Company outlook and sentiment are positive: Citi expects mid‑teens growth in Q1 investment‑banking fees, has raised AI investment/revenue projections and targets ~5–6% 2026 NII growth, supporting analyst upgrades and a consensus target of $127.25; the shares pay a $0.60 quarterly dividend (2.2% yield).

Mackenzie Financial Corp grew its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 3.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,377,488 shares of the company's stock after purchasing an additional 78,035 shares during the quarter. Mackenzie Financial Corp owned approximately 0.13% of Citigroup worth $241,315,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new stake in Citigroup in the second quarter worth approximately $2,455,929,000. Bank of New York Mellon Corp raised its stake in shares of Citigroup by 17.6% in 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 buying an additional 4,211,099 shares during the period. Capital World Investors lifted its holdings in Citigroup by 6.5% during the third quarter. Capital World Investors now owns 47,262,626 shares of the company's stock valued at $4,797,292,000 after purchasing an additional 2,871,074 shares in the last quarter. Bessemer Group Inc. boosted its holdings in Citigroup by 6,172.0% in the 3rd quarter. Bessemer Group Inc. now owns 2,904,795 shares of the company's stock worth $294,838,000 after buying an additional 2,858,481 shares during the period. Finally, Jupiter Asset Management Ltd. boosted its stake in shares of Citigroup by 440.5% in the third quarter. Jupiter Asset Management Ltd. now owns 1,835,767 shares of the company's stock worth $186,330,000 after acquiring an additional 1,496,125 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi told investors it expects mid‑teens percentage growth in first‑quarter investment‑banking fees, signaling a rebound in deal activity that supports higher fees and trading revenue. Citigroup sees mid‑teens growth in first‑quarter investment banking fees
• Positive Sentiment: CEO Jane Fraser gave a bullish update at an RBC conference describing progress in investment banking and markets — comments that helped re‑rate sentiment and spur analyst attention. Citi Stock Rebounds As CEO Jane Fraser Paints A Bullish Picture
• Positive Sentiment: Citi has raised AI capex and revenue projections as enterprise AI demand picks up — positioning the bank to win advisory, trading and financing work tied to AI infrastructure. That narrative supports multiple expansion. Citigroup Elevates AI Investment Projections Amid Rising Demand
• Positive Sentiment: Management outlined a plan to achieve ~5–6% year‑over‑year net interest income (NII) growth in 2026 through loan growth, deposit expansion and reinvesting maturing securities at higher yields — a clear driver for earnings growth. How Citigroup Plans to Achieve 5‑6% Y/Y NII Growth in 2026?
• Positive Sentiment: Momentum signals: recent analyst upgrades and heavy call‑option buying have amplified bullish flows and short‑term momentum, reinforcing price strength. Citigroup Stock (C) Opinions on Recent Price Momentum and Analyst Upgrades
• Neutral Sentiment: Citi research highlighted top semiconductor winners amid the AI chip rally — useful for client research/revenue but not a direct corporate earnings driver. Citi Picks Four Semiconductor Winners
• Neutral Sentiment: Citi issued an inaugural digitally native structured note on Euroclear’s D‑FMI platform — a primer on product innovation that may modestly expand wealth management capabilities. Citi Issues Inaugural Digitally Native Structured Note
• Negative Sentiment: Offsetting risks: notable institutional reductions and recent insider sales have appeared in filings, which can cap upside and raise questions about near‑term flows. Citigroup Stock (C) Opinions on Recent Price Momentum and Analyst Upgrades
• Negative Sentiment: Reputational headwinds: Citi suffered a large fall in a global gender ranking — an ESG/reputation datapoint that can matter to some investors and stakeholders over time. Citi suffers largest fall among banks in global gender ranking

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $121.00 target price on shares of Citigroup in a report on Thursday, January 15th. Keefe, Bruyette & Woods raised their price target on Citigroup from $118.00 to $131.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 17th. Wolfe Research restated an "outperform" rating and issued a $141.00 target price on shares of Citigroup in a research note on Wednesday, January 7th. Truist Financial raised their price target on Citigroup from $123.00 to $129.00 and gave the company a "buy" rating in a research note on Tuesday, January 6th. Finally, Zacks Research lowered Citigroup from a "strong-buy" rating to a "hold" rating in a report on Friday, February 20th. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $127.25.

Citigroup Price Performance

NYSE:C opened at $108.92 on Wednesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $190.54 billion, a price-to-earnings ratio of 15.63, a price-to-earnings-growth ratio of 0.68 and a beta of 1.17. The company has a 50 day moving average price of $115.28 and a 200-day moving average price of $106.99. Citigroup Inc. has a 1-year low of $55.51 and a 1-year high of $125.16.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings results on Wednesday, January 14th. The company reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.65 by $0.16. The firm had revenue of $19.87 billion for the quarter, compared to the consensus estimate of $20.99 billion. Citigroup had a net margin of 8.50% and a return on equity of 8.28%. The firm's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.34 earnings per share. Equities research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 2nd were given a dividend of $0.60 per share. The ex-dividend date was Monday, February 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.2%. Citigroup's dividend payout ratio (DPR) is 34.43%.

Insider Transactions at Citigroup

In other Citigroup news, insider Cantu Ernesto Torres sold 43,173 shares of the company's stock in a transaction on Friday, February 13th. The shares were sold at an average price of $111.09, for a total transaction of $4,796,088.57. Following the completion of the transaction, the insider directly owned 45,835 shares in the company, valued at approximately $5,091,810.15. This represents a 48.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.08% of the company's stock.

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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