Securian Asset Management Inc. Cuts Holdings in Citigroup Inc. $C

Key Points

• Securian Asset Management cut its Citigroup stake by 45.3% in the fourth quarter, selling 40,251 shares and leaving it with 48,654 shares valued at about $5.68 million.
• Citigroup posted a strong latest quarter, with EPS of $3.06 beating expectations and revenue of $24.63 billion topping estimates, while revenue rose 14.1% from a year earlier.
• The bank announced a $30 billion share buyback and a quarterly dividend of $0.60 per share, reinforcing management’s confidence in the stock and capital position.

Securian Asset Management Inc. decreased its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 45.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,654 shares of the company's stock after selling 40,251 shares during the quarter. Securian Asset Management Inc.'s holdings in Citigroup were worth $5,677,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Wolff Wiese Magana LLC boosted its position in shares of Citigroup by 87.6% during the 3rd quarter. Wolff Wiese Magana LLC now owns 257 shares of the company's stock worth $26,000 after acquiring an additional 120 shares in the last quarter. Richards Merrill & Peterson Inc. acquired a new stake in shares of Citigroup in the 4th quarter valued at about $28,000. Dunhill Financial LLC lifted its position in Citigroup by 92.2% during the 3rd quarter. Dunhill Financial LLC now owns 319 shares of the company's stock worth $32,000 after acquiring an additional 153 shares during the period. Luken Investment Analytics LLC acquired a new stake in Citigroup during the 4th quarter worth approximately $32,000. Finally, Guerra Advisors Inc acquired a new stake in Citigroup during the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 71.72% of the company's stock.

Citigroup Trading Down 0.0%

NYSE:C opened at $125.52 on Monday. The business's 50-day moving average is $117.98 and its two-hundred day moving average is $113.01. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.99 and a quick ratio of 0.99. Citigroup Inc. has a 12 month low of $71.29 and a 12 month high of $135.29. The firm has a market capitalization of $214.09 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 0.56 and a beta of 1.14.

Citigroup (NYSE:C - Get Free Report) last announced its earnings results 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 return on equity of 9.19% and a net margin of 9.35%.The business had revenue of $24.63 billion for the quarter, compared to analyst estimates of $22.96 billion. During the same period in the previous year, the company earned $1.96 earnings per share. The company's revenue for the quarter was up 14.1% compared to the same quarter last year. Research analysts predict that Citigroup Inc. will post 10.65 earnings per share for the current fiscal year.

Citigroup declared that its Board of Directors has approved a share buyback plan on Thursday, May 7th that authorizes the company to repurchase $30.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 13.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Citigroup Announces Dividend

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

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup unveiled a new $30 billion share buyback plan, a strong signal that management sees the stock as undervalued and has confidence in its capital position. RTT News
• Positive Sentiment: The company set a profitability target of 11% to 13% adjusted return on tangible common equity for 2027-2028, with further improvement expected by 2031, reinforcing the turnaround story. Reuters
• Positive Sentiment: Keefe, Bruyette & Woods raised its price target on Citigroup to $153 from $140 and kept an outperform rating, showing Wall Street still sees meaningful upside. Benzinga
• Neutral Sentiment: CEO Jane Fraser said the global economy remains resilient, but warned that the market may not yet fully understand the second- and third-order effects of the Iran war and ongoing inflation pressures. YouTube/CNBC
• Negative Sentiment: Some investors viewed the new profit targets as too modest, suggesting Citigroup may still trail peers longer than hoped despite the overhaul. Quartz

Insider Activity

In related news, insider Cantu Ernesto Torres sold 43,173 shares of the business's stock in a transaction dated Friday, February 13th. The stock was 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 directly owned 45,835 shares of the company's stock, valued at $5,091,810.15. The trade was a 48.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Edward Skyler sold 25,000 shares of the business's stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $131.41, for a total value of $3,285,250.00. Following the completion of the sale, the insider directly owned 182,022 shares of the company's stock, valued at approximately $23,919,511.02. This represents a 12.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 92,318 shares of company stock valued at $10,764,814. 0.11% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on C. JPMorgan Chase & Co. increased their target price on Citigroup from $131.00 to $135.50 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Morgan Stanley raised their price target on Citigroup from $140.00 to $144.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 15th. Evercore set a $139.00 price target on Citigroup in a research report on Wednesday, April 15th. Piper Sandler restated 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. Finally, Wall Street Zen upgraded Citigroup from a "hold" rating to a "buy" rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $137.62.

Citigroup Company 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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