Fjarde AP Fonden Fourth Swedish National Pension Fund Has $35.64 Million Position in Citigroup Inc. $C

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its holdings in Citigroup Inc. (NYSE:C) by 4.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 305,391 shares of the company’s stock after selling 13,700 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Citigroup were worth $35,636,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Total Wealth Planning & Management Inc. acquired a new stake in Citigroup in the 4th quarter valued at $935,000. Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new stake in Citigroup in the 4th quarter valued at $54,144,000. Harvest Fund Management Co. Ltd grew its position in Citigroup by 89.5% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 21,061 shares of the company’s stock valued at $2,457,000 after purchasing an additional 9,947 shares during the period. Curio Wealth LLC acquired a new stake in Citigroup in the 4th quarter valued at $121,000. Finally, Westfield Capital Management Co. LP acquired a new stake in Citigroup in the 4th quarter valued at $5,104,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $139.00 price target on shares of Citigroup in a research report on Wednesday, April 15th. Oppenheimer restated an “outperform” rating and set a $145.00 price objective on shares of Citigroup in a research note on Friday, May 8th. Wells Fargo & Company raised their price objective on Citigroup from $160.00 to $162.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Keefe, Bruyette & Woods raised their price objective on Citigroup from $140.00 to $153.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. raised their price objective on Citigroup from $131.00 to $135.50 and gave the company an “overweight” rating in a research note on Thursday, April 30th. 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. According to MarketBeat, Citigroup has an average rating of “Moderate Buy” and an average price target of $137.62.

Insiders Place Their Bets

In other news, Director John Cunningham Dugan sold 2,117 shares of Citigroup stock in a transaction on Friday, May 8th. The stock was sold at an average price of $125.30, for a total transaction of $265,260.10. Following the sale, the director directly owned 12,194 shares in the company, valued at $1,527,908.20. The trade was a 14.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 sale, the insider owned 182,022 shares in the company, valued at $23,919,511.02. The trade was a 12.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.11% of the company’s stock.

Citigroup Price Performance

Shares of NYSE:C opened at $132.62 on Friday. 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 stock’s fifty day simple moving average is $124.87 and its two-hundred day simple moving average is $116.75. Citigroup Inc. has a 1-year low of $76.11 and a 1-year high of $135.83. The stock has a market cap of $226.19 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 0.60 and a beta of 1.12.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 earnings per share 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 business had revenue of $24.63 billion for the quarter, compared to analysts’ expectations of $22.96 billion. During the same period last year, the business earned $1.96 EPS. The business’s revenue was up 14.1% on a year-over-year basis. As a group, analysts forecast that Citigroup Inc. will post 10.68 EPS for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Monday, May 4th. Citigroup’s payout ratio is presently 29.74%.

Citigroup announced that its board has approved a share buyback program on Thursday, May 7th that allows the company to buyback $30.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 13.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup reshuffled senior leadership, naming Margo Pilic head of strategy, M&A, and investor relations, a move that could improve execution and simplify decision-making as CEO Jane Fraser continues the bank’s transformation. Citigroup Reshapes Leadership As It Pushes Into Tokenized Deposits
• Positive Sentiment: The bank is joining JPMorgan Chase, Bank of America, and other large lenders on a blockchain-based tokenized deposit network, signaling that Citi wants to stay competitive in next-generation payments and possibly benefit from lower-friction transaction infrastructure. JPMorgan, Citi and Big Banks Plan New Tokenized Deposit System to Answer Crypto
• Positive Sentiment: Investors are also responding to Citi’s growing use of AI in operations, including a document-review system that cuts account-opening review time from about an hour to 15 minutes, which may point to better efficiency and cost savings over time. Citi Used AI to Shrink a 60-Minute Document Review to 15 Minutes
• Neutral Sentiment: Citi also announced redemptions of $3.15 billion of notes due in 2027, a routine balance-sheet management move that does not appear to be a major catalyst on its own. Citigroup Announces $2.75 Billion Redemption…
• Neutral Sentiment: Several headlines about Citi’s stock becoming overextended and the broader market looking “frothy” may temper enthusiasm, but they read more like caution flags than direct negatives for the company’s fundamentals. The stock market is at its frothiest…

About Citigroup

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.