State of Michigan Retirement System Sells 35,500 Shares of Citigroup Inc. $C

Key Points

• State of Michigan Retirement System trimmed its Citigroup stake by 6.4%, selling 35,500 shares and leaving it with 517,836 shares valued at about $60.43 million; overall institutional ownership remains high at 71.72% while large funds like Vanguard added millions of shares.
• Citigroup beat Q1 expectations (EPS $3.06 vs. $2.63; revenue $24.63B, up 14.1% YoY) and several analysts raised targets, leaving a MarketBeat consensus rating of Moderate Buy with an average target of $135.94.
• The company announced a $0.60 quarterly dividend (annualized $2.40, yield ~1.9%, ex-dividend May 4), while insiders sold roughly 92,318 shares in the past three months (including Edward Skyler's 25,000), which may add short-term selling pressure.

State of Michigan Retirement System trimmed its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 6.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 517,836 shares of the company's stock after selling 35,500 shares during the quarter. State of Michigan Retirement System's holdings in Citigroup were worth $60,426,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Citigroup by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company's stock worth $19,048,467,000 after buying an additional 4,938,923 shares during the period. Bank of New York Mellon Corp grew its position in 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 acquiring an additional 4,211,099 shares during the period. Capital World Investors raised its stake in 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 acquiring an additional 2,871,074 shares in the last quarter. Bessemer Group Inc. raised its stake in 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 acquiring an additional 2,858,481 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings 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 valued at $153,978,000 after acquiring an additional 2,008,946 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on C shares. Truist Financial upped their target price on shares of Citigroup from $133.00 to $139.00 and gave the stock a "buy" rating in a report on Wednesday, April 15th. HSBC reissued a "buy" rating and set a $87.00 price target on shares of Citigroup in a report on Wednesday, January 7th. Oppenheimer boosted their price target on shares of Citigroup from $132.00 to $144.00 and gave the company an "outperform" rating in a research report on Wednesday, April 15th. Evercore set a $139.00 price objective on shares of Citigroup in a research note on Wednesday, April 15th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Citigroup in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Citigroup has a consensus rating of "Moderate Buy" and an average target price of $135.94.

Citigroup Trading Up 0.0%

Shares of NYSE C opened at $128.03 on Monday. Citigroup Inc. has a 1-year low of $66.72 and a 1-year high of $135.29. The company has a 50-day moving average of $115.88 and a two-hundred day moving average of $111.47. The company has a market cap of $219.56 billion, a PE 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 (NYSE:C - Get Free Report) last released 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 business had revenue of $24.63 billion for the quarter, compared to analysts' expectations of $22.96 billion. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. Citigroup's revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.96 earnings per share. As a group, equities analysts expect that Citigroup Inc. will post 10.62 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

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

Insider Buying and Selling at Citigroup

In other news, insider Edward Skyler sold 25,000 shares of Citigroup stock in a transaction on Wednesday, April 15th. The stock was 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 trade represents a 12.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $4,796,088.57. Following the transaction, the insider directly owned 45,835 shares in the company, valued at $5,091,810.15. This trade represents a 48.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 92,318 shares of company stock valued at $10,764,814 over the last three months. Insiders own 0.11% of the company's stock.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Q1 beat and AI push: Citi reported stronger‑than‑expected Q1 results and has rolled out an AI advisor product that helped push the stock to a recent 52‑week high; that earnings momentum and tech/wealth strategy are supporting higher valuation expectations. Citigroup hits 52-week high after earnings beat, AI launch
• Positive Sentiment: Analyst upgrades and higher targets: Several sell‑side firms have raised price targets and reiterated constructive views on Citi’s turnaround and capital return potential, which is drawing buyer interest and supporting the stock. Zacks Analyst Blog
• Neutral Sentiment: Notes buyback offer announced: Citigroup Global Markets started offers to purchase several series of Citi notes — a balance‑sheet management action that could be neutral or modestly positive if it reduces interest cost/optimizes capital, but impact depends on execution and funding. Citi Announces Offers to Purchase Notes
• Neutral Sentiment: Exit of Citi entities as substantial holder in a small Australian lithium issuer — procedural/portfolio adjustment by Citi’s Australia unit; likely immaterial to Citi’s core earnings but noted by markets that track institutional flows. Citigroup Entities Exit Substantial Holder Status in Elevra Lithium
• Negative Sentiment: Insider selling: SEC disclosures show Edward Skyler sold 25,000 Citi shares (mid‑April), which can be interpreted as profit‑taking after the rally and may create short‑term selling pressure even if the sale is for personal liquidity. Edward Skyler Sells 25,000 Shares SEC Filing

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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