Te Ahumairangi Investment Management Ltd Sells 25,762 Shares of Citigroup Inc. $C

Key Points

• Te Ahumairangi Investment Management cut its Citigroup stake by 24.5% in the fourth quarter, selling 25,762 shares and leaving it with 79,408 shares worth about $9.27 million.
• Citigroup has seen continued institutional support, with large holders like Vanguard and other funds increasing positions; institutions now own 71.72% of the stock.
• Wall Street remains constructive on Citi, with a Moderate Buy consensus and an average price target of $137.62, while the company also topped quarterly earnings and revenue estimates and authorized a $30 billion share buyback.

Te Ahumairangi Investment Management Ltd lowered its position in Citigroup Inc. (NYSE:C - Free Report) by 24.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 79,408 shares of the company's stock after selling 25,762 shares during the quarter. Citigroup makes up about 1.7% of Te Ahumairangi Investment Management Ltd's portfolio, making the stock its 12th biggest position. Te Ahumairangi Investment Management Ltd's holdings in Citigroup were worth $9,266,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Citigroup by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company's stock worth $19,048,467,000 after purchasing an additional 4,938,923 shares in the last quarter. Capital World Investors grew its stake in Citigroup by 6.5% in the third quarter. Capital World Investors now owns 47,262,626 shares of the company's stock worth $4,797,292,000 after purchasing an additional 2,871,074 shares in the last quarter. Geode Capital Management LLC grew its stake in Citigroup by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 43,252,372 shares of the company's stock worth $5,036,712,000 after purchasing an additional 189,548 shares in the last quarter. Franklin Resources Inc. grew its stake in Citigroup by 4.0% in the fourth quarter. Franklin Resources Inc. now owns 34,196,783 shares of the company's stock worth $3,990,422,000 after purchasing an additional 1,326,224 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in Citigroup by 2.6% in the fourth quarter. Fisher Asset Management LLC now owns 33,887,285 shares of the company's stock worth $3,954,307,000 after purchasing an additional 846,772 shares in the last quarter. Institutional investors own 71.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on C. The Goldman Sachs Group increased their target price on Citigroup from $137.00 to $151.00 and gave the company a "buy" rating in a research report on Wednesday, April 15th. Evercore set a $139.00 target price on Citigroup in a research report on Wednesday, April 15th. JPMorgan Chase & Co. increased their target price on Citigroup from $131.00 to $135.50 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Zacks Research cut Citigroup from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 20th. Finally, Barclays increased their target price on Citigroup from $146.00 to $154.00 and gave the company an "overweight" rating in a research report on Wednesday, April 15th. One equities 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. According to data from MarketBeat.com, Citigroup currently has a consensus rating of "Moderate Buy" and an average price target of $137.62.

Citigroup Stock Performance

Shares of C opened at $137.89 on Friday. Citigroup Inc. has a 12 month low of $76.11 and a 12 month high of $138.23. The stock has a fifty day moving average price of $126.85 and a 200-day moving average price of $117.91. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. The firm has a market cap of $235.18 billion, a PE ratio of 17.09, a P/E/G ratio of 0.60 and a beta of 1.12.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, beating the consensus estimate of $2.63 by $0.43. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The firm had revenue of $24.63 billion during the quarter, compared to analyst estimates of $22.96 billion. During the same quarter in the prior year, the business posted $1.96 EPS. The business's revenue for the quarter was up 14.1% compared to the same quarter last year. Equities research analysts predict that Citigroup Inc. will post 10.68 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Monday, May 4th. Citigroup's dividend payout ratio is currently 29.74%.

Citigroup declared that its Board of Directors has initiated a share buyback program on Thursday, May 7th that permits the company to repurchase $30.00 billion in shares. This repurchase authorization permits the company to reacquire up to 13.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup is rolling out tokenized depositary receipts for private-company shares, a move that could broaden access to private markets and create a new growth avenue for the bank. Article title
• Positive Sentiment: Reuters reported that Citi hired Ryan Beaupré as a managing director in its consumer and retail investment banking group, signaling continued effort to expand the franchise and deepen client coverage. Article title
• Positive Sentiment: Citigroup’s recent earnings beat and revenue growth continue to support the stock, with Q1 EPS and revenue both topping expectations and underscoring improving operating momentum. Article title
• Neutral Sentiment: President Trump publicly praised Citigroup and CEO Jane Fraser for M&A advisory work, which helped sentiment, but some reports noted the ranking was overstated, limiting the fundamental impact. Article title
• Neutral Sentiment: Market commentary also pointed to Citigroup’s turnaround progress, solid trading conditions, and a constructive investment banking outlook, which supports the stock but is largely a continuation of existing optimism. Article title

Insider Buying and Selling at Citigroup

In other news, insider Edward Skyler sold 25,000 shares of the stock in a transaction on Wednesday, April 15th. The stock was 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 in the company, valued at approximately $23,919,511.02. This represents a 12.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Cunningham Dugan sold 2,117 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $125.30, for a total value of $265,260.10. Following the sale, the director owned 12,194 shares of the company's stock, valued at approximately $1,527,908.20. This represents a 14.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.11% of the company's stock.

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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