Pictet Asset Management Holding SA Grows Holdings in Citigroup Inc. $C

Key Points

• Pictet Asset Management increased its stake in Citigroup by 4.7% in Q4 to 898,814 shares (about $104.9M), and institutional investors now own roughly 71.72% of the company.
• Citigroup reported a strong Q1, beating estimates with $3.06 EPS (vs. $2.63 est.) and $24.63B in revenue, lifting analyst sentiment toward a consensus rating of "Moderate Buy" and an average target of $135.94.
• The bank announced a quarterly dividend of $0.60 (annualized $2.40) with an ex-dividend/record date of May 4 and payment on May 22, implying a yield of about 1.9%.

Pictet Asset Management Holding SA raised its position in Citigroup Inc. (NYSE:C - Free Report) by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 898,814 shares of the company's stock after buying an additional 40,115 shares during the period. Pictet Asset Management Holding SA owned about 0.05% of Citigroup worth $104,883,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Citigroup by 3.1% in the fourth 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. Capital World Investors grew its position in shares of Citigroup by 6.5% in 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 during the period. Fisher Asset Management LLC grew its position in shares of Citigroup by 2.7% in the third quarter. Fisher Asset Management LLC now owns 33,040,513 shares of the company's stock valued at $3,353,612,000 after purchasing an additional 879,056 shares during the period. Franklin Resources Inc. grew its position in shares of Citigroup by 1.8% in the third quarter. Franklin Resources Inc. now owns 32,870,559 shares of the company's stock valued at $3,336,362,000 after purchasing an additional 580,027 shares during the period. Finally, Bank of New York Mellon Corp grew its position 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 valued at $2,854,788,000 after purchasing an additional 4,211,099 shares during the period. Hedge funds and other institutional investors own 71.72% of the company's stock.

Citigroup Stock Up 0.9%

C stock opened at $129.13 on Tuesday. The company has a market cap of $221.45 billion, a price-to-earnings ratio of 16.00, a PEG 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 $66.72 and a 12 month high of $135.29. The firm has a 50-day moving average of $116.25 and a two-hundred day moving average of $111.70.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, beating analysts' consensus estimates of $2.63 by $0.43. The company had revenue of $24.63 billion during the quarter, compared to the consensus estimate of $22.96 billion. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. Citigroup's quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.96 EPS. As a group, analysts forecast that Citigroup Inc. will post 10.62 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Monday, May 4th will be issued a $0.60 dividend. The ex-dividend date is Monday, May 4th. This represents a $2.40 dividend on an annualized basis and a yield of 1.9%. Citigroup's dividend payout ratio is presently 29.74%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on C shares. UBS Group reiterated a "neutral" rating and issued a $132.00 target price on shares of Citigroup in a research report on Thursday, January 15th. TD Cowen reiterated a "hold" rating on shares of Citigroup in a research report on Wednesday, January 7th. The Goldman Sachs Group lifted their target price on shares of Citigroup from $137.00 to $151.00 and gave the company a "buy" rating in a research report on Wednesday, April 15th. Zacks Research lowered shares of Citigroup from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 20th. Finally, Jefferies Financial Group started coverage on shares of Citigroup in a research report on Thursday, March 26th. They issued a "buy" rating and a $135.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Citigroup has a consensus rating of "Moderate Buy" and an average target price of $135.94.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi said it will expand and add senior hires to its Japan and China investment banking teams to win more cross‑border M&A and advisory business — a direct revenue growth initiative in Asia that can boost fee income and franchise value. Citi to boost Japan, China investment banking teams, plans senior sector-focused hires
• Positive Sentiment: High‑profile endorsement: Jim Cramer publicly said Citi’s recent conference call was better than JPMorgan’s — media praise that can lift investor sentiment and drive short‑term flow into the stock. Jim Cramer Shares Why Citi’s (C) Conference Call Was Better Than JPMorgan’s
• Positive Sentiment: Analyst/sector momentum: Several pieces highlighting stronger Q1 results and upbeat outlooks for big investment banks (including Citi) are pushing investors toward the group; Citi’s own research/product activity (lifting targets on major tech names, outlining ETF flows) reinforces its revenue and research franchise. Buy These 3 Investment Bank Giants After Solid Q1 Earnings and Outlook
• Neutral Sentiment: Citi Singapore received awards from FinanceAsia and Forbes — positive for reputation and local franchise strength but likely to have limited immediate earnings impact. Citi Singapore receives dual award recognition from FinanceAsia and Forbes
• Neutral Sentiment: Broader market context: Financial stocks are rallying this afternoon, providing a sector tailwind that helps Citi’s stock — a macro/flow-driven boost rather than new company fundamentals. Sector Update: Financial Stocks Rise Late Afternoon

Insider Transactions at Citigroup

In other Citigroup news, insider Cantu Ernesto Torres sold 43,173 shares of the stock in a transaction dated 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 completion of the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edward Skyler sold 25,000 shares of the 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 owned 182,022 shares of the company's stock, valued at approximately $23,919,511.02. The trade was a 12.08% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 92,318 shares of company stock valued at $10,764,814. 0.11% of the stock is owned by insiders.

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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