Pacer Advisors Inc. Reduces Holdings in Citigroup Inc. $C

Pacer Advisors Inc. reduced its position in Citigroup Inc. (NYSE:C) by 26.8% in the 4th quarter, Holdings Channel reports. The firm owned 180,045 shares of the company’s stock after selling 65,912 shares during the quarter. Pacer Advisors Inc.’s holdings in Citigroup were worth $21,009,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Citigroup during the fourth quarter worth $2,800,944,000. Vanguard Group Inc. increased its stake in shares of Citigroup by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company’s stock worth $19,048,467,000 after acquiring an additional 4,938,923 shares during the last quarter. Capital World Investors raised its holdings in shares of Citigroup by 6.5% during the 3rd 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 during the period. Eurizon Capital SGR S.p.A. purchased a new position in shares of Citigroup during the 4th quarter worth $298,082,000. Finally, SG Americas Securities LLC boosted its position in shares of Citigroup by 291.4% during the 4th 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 last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised their price objective 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. Morgan Stanley boosted their target price on shares of Citigroup from $140.00 to $144.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Wells Fargo & Company increased their price target on shares of Citigroup from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday. Truist Financial set a $147.00 price target on shares of Citigroup in a research report on Friday, May 1st. Finally, Oppenheimer reiterated an “outperform” rating and issued a $145.00 price objective on shares of Citigroup in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $137.79.

Citigroup Trading Up 0.2%

NYSE C opened at $143.37 on Friday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $244.52 billion, a P/E ratio of 17.77, a PEG ratio of 0.64 and a beta of 1.12. The firm’s 50-day moving average is $129.86 and its two-hundred day moving average is $119.49. Citigroup Inc. has a 12 month low of $77.50 and a 12 month high of $147.96.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, beating 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 business had revenue of $24.63 billion during the quarter, compared to analysts’ expectations of $22.96 billion. During the same period last year, the business earned $1.96 earnings per share. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, sell-side analysts anticipate that Citigroup Inc. will post 10.72 earnings per share for the current year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.7%. The ex-dividend date was Monday, May 4th. Citigroup’s dividend payout ratio (DPR) is 29.74%.

Citigroup declared that its Board of Directors has approved a share repurchase plan on Thursday, May 7th that permits the company to buyback $30.00 billion in shares. This buyback authorization permits the company to repurchase up to 13.7% of its stock through open market purchases. Stock buyback plans are often a sign 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: Citi’s latest macro view suggests the Federal Reserve may keep rates higher for longer, which could boost net interest income for Citigroup (C) if short-term yields remain elevated. Citi Predicts Fed Rate Cuts Will Come Later Than Expected
• Positive Sentiment: The bank also announced a leadership move in Asia, appointing JianXun Toh to lead corporate banking in Japan, Asia North and Australia, reinforcing its push to grow institutional banking in a key region. Citigroup (C) Appoints JianXun Toh To Lead Corporate Banking In JANA
• Positive Sentiment: Analyst sentiment remains supportive, with Citigroup receiving a consensus “Moderate Buy” rating, which can help reinforce investor confidence in the stock. Citigroup Inc. (NYSE:C) Receives Consensus Recommendation of “Moderate Buy” from Analysts
• Neutral Sentiment: Citi also highlighted innovation in asset management with a new report on “operational alpha,” underscoring its broader financial-services research franchise, though the direct stock impact is limited. Citi and CREATE-Research Report: Innovation in Asset Management Pivots to ‘Operational Alpha’
• Negative Sentiment: A Reuters/Fox Business report said the Justice Department is probing transactions tied to a network linked to Iran’s supreme leader, including possible connections to Wall Street firms such as Citigroup, creating headline risk for the bank. DOJ probes JPMorgan, Citigroup transactions tied to Iran supreme leader’s business network

Insider Buying and Selling

In other Citigroup news, insider Edward Skyler sold 25,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $23,919,511.02. The trade was a 12.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Cunningham Dugan sold 2,117 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $125.30, for a total value of $265,260.10. Following the transaction, the director owned 12,194 shares in the company, valued at $1,527,908.20. This trade represents a 14.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.11% of the stock is owned by insiders.

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.