Citigroup Inc. $C is Nexus Investment Management ULC’s 4th Largest Position

Nexus Investment Management ULC lessened its position in shares of Citigroup Inc. (NYSE:C) by 19.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 390,203 shares of the company’s stock after selling 91,845 shares during the period. Citigroup makes up 6.2% of Nexus Investment Management ULC’s portfolio, making the stock its 4th biggest position. Nexus Investment Management ULC’s holdings in Citigroup were worth $45,533,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC grew its position in Citigroup by 87.6% during the third quarter. Wolff Wiese Magana LLC now owns 257 shares of the company’s stock valued at $26,000 after acquiring an additional 120 shares during the period. Dunhill Financial LLC grew its position in Citigroup by 92.2% during the third quarter. Dunhill Financial LLC now owns 319 shares of the company’s stock valued at $32,000 after acquiring an additional 153 shares during the period. Guerra Advisors Inc purchased a new stake in Citigroup during the third quarter valued at about $33,000. Capital A Wealth Management LLC purchased a new stake in Citigroup during the second quarter valued at about $38,000. Finally, Cloud Capital Management LLC purchased a new stake in Citigroup during the third quarter valued at about $40,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Goldman Sachs raised its price target to $137 and kept a “buy” rating, signaling stronger sell?side conviction and implying material upside if guidance/earnings beat expectations. Read More.
• Positive Sentiment: Citigroup declared a quarterly dividend of $0.60 (yield ~2.1%) with an upcoming ex?dividend date in early May — supports income investors and reduces downside from headline volatility.
• Positive Sentiment: Market commentary highlights Citigroup’s sticky global treasury & trade services and its large international footprint as durable revenue drivers; that business could anchor a recovery and supports a valuation rerating if macro risk eases. Read More.
• Neutral Sentiment: Multiple previews (Seeking Alpha, Zacks) argue Citigroup has the setup to beat Q1 consensus — that can help shares if results and guidance are strong, but upside depends on revenue mix (IB vs. trading vs. TTS). Read More. | Read More.
• Neutral Sentiment: JPMorgan trimmed its price target slightly (from $134 to $131) but left an “overweight” rating — a modest adjustment that tempers near?term upside but keeps institutional support intact. Read More.
• Neutral Sentiment: Citigroup research pushed back its Fed?cut forecast (now expecting cuts starting in September). A later start to cuts can be a double?edged sword for banks: it supports net interest margins longer but may signal persistent inflation and economic risk. Read More.
• Negative Sentiment: Escalating geopolitical risk in the Middle East (threats to power plants and infrastructure) is boosting oil and risk?off flows — that broader market stress pressures trading volumes, capital markets activity and investor sentiment for big banks. Read More.
• Negative Sentiment: Fed officials warning that inflation risks remain and rate cuts are unlikely in the near term increases macro uncertainty. Elevated inflation and geopolitical shocks can reduce capital markets activity and raise credit/recession risk — negatives for bank revenue and stock multiples. Read More.

Insider Transactions at Citigroup

In other Citigroup news, insider Cantu Ernesto Torres sold 43,173 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $111.09, for a total transaction of $4,796,088.57. Following the sale, the insider owned 45,835 shares in the company, valued at $5,091,810.15. This represents a 48.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

C has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on Citigroup in a research report on Thursday, March 26th. They set a “buy” rating and a $135.00 price target for the company. Wells Fargo & Company set a $150.00 target price on Citigroup in a research report on Monday, January 5th. UBS Group reaffirmed a “neutral” rating and issued a $132.00 target price on shares of Citigroup in a research report on Thursday, January 15th. Truist Financial upped their target price on Citigroup from $123.00 to $129.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Finally, JPMorgan Chase & Co. decreased their target price on Citigroup from $134.00 to $131.00 and set an “overweight” rating for the company in a research report on Tuesday. 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. Based on data from MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and an average target price of $127.41.

Citigroup Trading Down 0.4%

Shares of NYSE C opened at $116.84 on Wednesday. The stock’s 50 day moving average price is $112.83 and its two-hundred day moving average price is $108.87. Citigroup Inc. has a 52-week low of $56.07 and a 52-week high of $125.16. The stock has a market capitalization of $204.40 billion, a P/E ratio of 16.76, a PEG ratio of 0.74 and a beta of 1.11. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.63.

Citigroup (NYSE:C) last announced its quarterly earnings data on Wednesday, January 14th. The company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.16. Citigroup had a return on equity of 8.28% and a net margin of 8.50%.The firm had revenue of $19.87 billion for the quarter, compared to analysts’ expectations of $20.99 billion. During the same quarter in the prior year, the firm posted $1.34 earnings per share. Citigroup’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

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 paid a dividend of $0.60 per share. The ex-dividend date is Monday, May 4th. This represents a $2.40 annualized dividend and a yield of 2.1%. Citigroup’s dividend payout ratio is presently 34.43%.

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.