Capital World Investors Decreases Stock Position in Citigroup Inc. $C

Capital World Investors lessened its position in Citigroup Inc. (NYSE:C) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,712,093 shares of the company’s stock after selling 550,533 shares during the quarter. Capital World Investors’ holdings in Citigroup were worth $5,450,878,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in C. Norges Bank purchased a new position in shares of Citigroup in the fourth quarter valued at approximately $2,800,944,000. Vanguard Group Inc. lifted its position in shares of Citigroup by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company’s stock valued at $19,048,467,000 after acquiring an additional 4,938,923 shares in the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in shares of Citigroup in the fourth quarter valued at approximately $298,082,000. SG Americas Securities LLC lifted its position in shares of Citigroup by 291.4% in the fourth 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 in the last quarter. Finally, Alliancebernstein L.P. lifted its position in Citigroup by 52.1% during the third quarter. Alliancebernstein L.P. now owns 5,304,324 shares of the company’s stock worth $538,389,000 after buying an additional 1,816,786 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Insiders Place Their Bets

In other Citigroup 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 value of $265,260.10. Following the sale, the director owned 12,194 shares in the company, valued at $1,527,908.20. The trade was a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Edward Skyler sold 25,000 shares of Citigroup stock in a transaction on 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 sale, the insider owned 182,022 shares in the company, valued at $23,919,511.02. This represents a 12.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.11% of the stock is owned by insiders.

Citigroup Price Performance

NYSE:C opened at $132.62 on Friday. Citigroup Inc. has a 52 week low of $76.11 and a 52 week high of $135.83. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $226.19 billion, a P/E ratio of 16.43, a P/E/G ratio of 0.59 and a beta of 1.12. The stock’s fifty day moving average is $124.87 and its two-hundred day moving average is $116.75.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $22.96 billion. During the same quarter in the previous year, the business earned $1.96 earnings per share. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities analysts expect that Citigroup Inc. will post 10.68 EPS for the current year.

Citigroup announced that its Board of Directors has authorized a share buyback 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 usually a sign that the company’s management believes its stock is undervalued.

Citigroup Dividend Announcement

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

Key Citigroup News

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…

Analyst Ratings Changes

C has been the topic of a number of analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $139.00 price objective on shares of Citigroup in a research report on Wednesday, April 15th. 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 objective on the stock. Morgan Stanley lifted their price objective on Citigroup from $140.00 to $144.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Wall Street Zen upgraded Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Zacks Research downgraded Citigroup from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and an average price target of $137.62.

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.