UniSuper Management Pty Ltd Increases Stock Position in Citigroup Inc. $C

UniSuper Management Pty Ltd grew its stake in shares of Citigroup Inc. (NYSE:C) by 38.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,306,851 shares of the company’s stock after buying an additional 365,041 shares during the period. Citigroup accounts for approximately 0.9% of UniSuper Management Pty Ltd’s holdings, making the stock its 19th biggest holding. UniSuper Management Pty Ltd’s holdings in Citigroup were worth $152,496,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Richards Merrill & Peterson Inc. purchased a new stake in shares of Citigroup during the 4th quarter valued at $28,000. Luken Investment Analytics LLC purchased a new stake in shares of Citigroup during the 4th quarter valued at $32,000. High Note Wealth LLC grew its stake in shares of Citigroup by 107.7% during the 4th quarter. High Note Wealth LLC now owns 270 shares of the company’s stock valued at $32,000 after buying an additional 140 shares during the period. Entrust Financial LLC purchased a new stake in shares of Citigroup during the 4th quarter valued at $34,000. Finally, Maseco LLP purchased a new stake in shares of Citigroup during the 4th quarter valued at $35,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Up 3.4%

Shares of Citigroup stock opened at $137.89 on Friday. The company 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. Citigroup Inc. has a twelve month low of $76.11 and a twelve month high of $138.23. The stock has a market cap of $235.18 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 0.60 and a beta of 1.12.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.43. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The firm had revenue of $24.63 billion during the quarter, compared to analysts’ expectations of $22.96 billion. During the same period in the prior year, the company earned $1.96 EPS. The firm’s revenue was up 14.1% on a year-over-year basis. Equities research analysts forecast that Citigroup Inc. will post 10.68 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Monday, May 4th. Citigroup’s dividend payout ratio is presently 29.74%.

Citigroup declared that its board has authorized a share repurchase plan on Thursday, May 7th that permits the company to repurchase $30.00 billion in shares. This repurchase authorization permits the company to purchase up to 13.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Trending Headlines about Citigroup

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

Analyst Ratings Changes

Several analysts have recently issued reports on C shares. The Goldman Sachs Group boosted their price objective on shares of Citigroup from $137.00 to $151.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Barclays boosted their price objective on shares of Citigroup from $146.00 to $154.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Jefferies Financial Group started coverage on shares of Citigroup in a research note on Thursday, March 26th. They set a “buy” rating and a $135.00 price objective for the company. Oppenheimer reissued an “outperform” rating and set a $145.00 price objective on shares of Citigroup in a research note on Friday, May 8th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Citigroup from $140.00 to $153.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $137.62.

Insider Transactions at Citigroup

In other Citigroup news, insider Edward Skyler sold 25,000 shares of the company’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 transaction, the insider directly owned 182,022 shares of the company’s stock, valued at $23,919,511.02. This represents a 12.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John Cunningham Dugan sold 2,117 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $125.30, for a total transaction of $265,260.10. Following the completion of the transaction, the director directly owned 12,194 shares of the company’s stock, valued at approximately $1,527,908.20. The trade was a 14.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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.