Citigroup Inc. $C Shares Sold by State Street Corp

State Street Corp lessened its holdings in Citigroup Inc. (NYSE:C) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 79,914,501 shares of the company’s stock after selling 1,032,858 shares during the quarter. State Street Corp owned 4.47% of Citigroup worth $9,325,223,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in C. Norges Bank acquired a new stake in Citigroup in the fourth quarter worth about $2,800,944,000. Vanguard Group Inc. lifted its holdings in shares of Citigroup by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company’s stock worth $19,048,467,000 after purchasing an additional 4,938,923 shares during the period. Capital World Investors lifted its holdings in shares of Citigroup by 6.5% during the third quarter. Capital World Investors now owns 47,262,626 shares of the company’s stock worth $4,797,292,000 after purchasing an additional 2,871,074 shares during the period. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Citigroup during the fourth quarter worth about $298,082,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Citigroup by 291.4% during the fourth quarter. SG Americas Securities LLC now owns 1,319,549 shares of the company’s stock worth $153,978,000 after purchasing an additional 2,008,946 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods lifted their target price on Citigroup from $140.00 to $153.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Truist Financial set a $147.00 target price on Citigroup in a report on Friday, May 1st. JPMorgan Chase & Co. lifted their target price on Citigroup from $131.00 to $135.50 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Piper Sandler reaffirmed an “overweight” rating and set a $145.00 target price (up from $125.00) on shares of Citigroup in a report on Wednesday, April 15th. Finally, Wall Street Zen raised Citigroup from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. One research 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $137.62.

Insider Buying and Selling

In other 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 completion of the sale, the insider directly owned 182,022 shares in the company, valued at $23,919,511.02. The trade was 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 through this link. Also, Director John Cunningham Dugan sold 2,117 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $125.30, for a total value of $265,260.10. Following the completion of the sale, the director owned 12,194 shares of the company’s stock, valued at $1,527,908.20. This trade represents a 14.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.11% of the stock is owned by insiders.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup launched tokenized Digital Depositary Receipts, creating a new blockchain-based way for clients to gain exposure to private companies and for issuers to tap liquidity, reinforcing Citi’s push into next-generation capital markets. Citigroup Is Rolling Out Tokenized Shares of Private Companies
• Positive Sentiment: Related coverage said Citi is expanding access to private markets with tokenized private-share trading, which could open a new fee-generating business line and strengthen its innovation story with large clients. Citigroup Expands Access to Private Markets With Tokenized Depositary Receipts
• Positive Sentiment: Trump praised Citigroup and CEO Jane Fraser as a top M&A adviser, which helped fuel momentum and reinforced confidence in Citi’s investment banking comeback. Citigroup shares outperform down market after Trump endorsement
• Positive Sentiment: Citi also continued building out its consumer and retail investment banking franchise with a new managing director hire, suggesting management is still investing in growth areas. Citi hires Ryan Beaupré as MD in consumer and retail investment banking push
• Neutral Sentiment: Citi completed the sale of its Polish consumer banking business, continuing its multi-year retreat from underperforming overseas markets. This supports simplification, but it also shows ongoing shrinkage in some international operations. Citi’s overseas retreat advances with sale of Polish business
• Neutral Sentiment: Reports that regulators are probing banks’ use of AI could raise compliance scrutiny for the sector, but there was no Citi-specific issue mentioned. Bank Regulators Probe Industry Use of AI

Citigroup Stock Up 1.2%

Shares of C stock opened at $139.68 on Friday. The stock has a 50 day moving average of $127.34 and a 200 day moving average of $118.06. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. The stock has a market cap of $238.23 billion, a P/E ratio of 17.31, a P/E/G ratio of 0.62 and a beta of 1.12. Citigroup Inc. has a twelve month low of $76.11 and a twelve month high of $141.12.

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

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders 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 dividend yield of 1.7%. Citigroup’s payout ratio is 29.74%.

Citigroup announced that its board has approved a share buyback plan on Thursday, May 7th that allows the company to repurchase $30.00 billion in shares. This repurchase authorization allows the company to repurchase up to 13.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

About Citigroup

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.