Resona Asset Management Co. Ltd. Has $70.01 Million Stock Holdings in Citigroup Inc. $C

Resona Asset Management Co. Ltd. lessened its holdings in Citigroup Inc. (NYSE:C) by 5.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 598,776 shares of the company’s stock after selling 32,878 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Citigroup were worth $70,012,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of C. Brighton Jones LLC boosted its position in shares of Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after buying an additional 12,499 shares during the period. Sivia Capital Partners LLC boosted its position in shares of Citigroup by 20.5% in the second quarter. Sivia Capital Partners LLC now owns 9,805 shares of the company’s stock worth $835,000 after buying an additional 1,669 shares during the period. United Bank acquired a new stake in shares of Citigroup in the second quarter worth $972,000. Osterweis Capital Management Inc. boosted its position in shares of Citigroup by 3,016.7% in the second quarter. Osterweis Capital Management Inc. now owns 935 shares of the company’s stock worth $80,000 after buying an additional 905 shares during the period. Finally, HUB Investment Partners LLC boosted its position in shares of Citigroup by 26.9% in the second quarter. HUB Investment Partners LLC now owns 15,287 shares of the company’s stock worth $1,301,000 after buying an additional 3,238 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

C has been the subject of several recent analyst reports. Jefferies Financial Group initiated coverage on Citigroup in a research report on Thursday, March 26th. They issued a “buy” rating and a $135.00 target price for the company. Royal Bank Of Canada reiterated an “outperform” rating and set a $139.00 price objective on shares of Citigroup in a report on Wednesday, April 15th. Truist Financial set a $147.00 price objective on Citigroup in a report on Friday, May 1st. Keefe, Bruyette & Woods increased their price objective on Citigroup from $140.00 to $153.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Finally, Evercore set a $139.00 price objective on Citigroup in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and a consensus target price of $137.62.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup and BlackRock’s HPS announced a €15 billion private capital program to expand direct lending in EMEA, giving Citi another way to grow fee income and deepen its lending franchise. Citigroup and HPS Investment Partners, a part of BlackRock, Announce €15 Billion Private Capital Program to Expand Direct Lending in EMEA
• Positive Sentiment: Citigroup neared final approval for a wholly owned securities firm in China, which would let it directly offer investment banking and brokerage services onshore instead of relying on joint ventures. Citigroup Nears Final Approval for Wholly-Owned China Securities Firm
• Positive Sentiment: Investor sentiment was also helped by a Goldman Sachs Buy rating and $149 price target, with analysts pointing to a cleaner path to improved profitability and higher returns. Citigroup (C) Among the Best Value Stocks to Buy for Long Term Investment
• Neutral Sentiment: Broader financial stocks were higher on Monday afternoon, with the NYSE Financial Index up 1%, providing a mild sector tailwind for Citi. Sector Update: Financial Stocks Higher Monday Afternoon

Insider Activity

In other Citigroup news, insider Edward Skyler sold 25,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider directly owned 182,022 shares in the company, valued at $23,919,511.02. This trade represents a 12.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Cunningham Dugan sold 2,117 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were 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 approximately $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 company insiders.

Citigroup Price Performance

NYSE C opened at $122.34 on Tuesday. Citigroup Inc. has a fifty-two week low of $71.65 and a fifty-two week high of $135.29. The stock’s 50-day moving average is $119.77 and its two-hundred day moving average is $114.28. 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 firm has a market cap of $208.66 billion, a P/E ratio of 15.16, a price-to-earnings-growth ratio of 0.55 and a beta of 1.14.

Citigroup (NYSE:C) last posted its earnings results 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 company had revenue of $24.63 billion for the quarter, compared to analyst estimates of $22.96 billion. During the same period last year, the company earned $1.96 earnings per share. The business’s revenue was up 14.1% compared to the same quarter last year. On average, analysts anticipate that Citigroup Inc. will post 10.65 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Monday, May 4th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, May 4th. Citigroup’s dividend payout ratio (DPR) is 29.74%.

Citigroup announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 7th that allows the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 13.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Citigroup 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.