Teachers Retirement System of The State of Kentucky Sells 37,700 Shares of Citigroup Inc. $C

Teachers Retirement System of The State of Kentucky trimmed its position in shares of Citigroup Inc. (NYSE:C) by 9.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 348,354 shares of the company’s stock after selling 37,700 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Citigroup were worth $39,507,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Citigroup by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company’s stock valued at $19,048,467,000 after purchasing an additional 4,938,923 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Citigroup by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 43,252,372 shares of the company’s stock worth $5,036,712,000 after buying an additional 189,548 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Citigroup by 4.0% during the fourth quarter. Franklin Resources Inc. now owns 34,196,783 shares of the company’s stock valued at $3,990,422,000 after buying an additional 1,326,224 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Citigroup by 2.6% during the fourth quarter. Fisher Asset Management LLC now owns 33,887,285 shares of the company’s stock valued at $3,954,307,000 after acquiring an additional 846,772 shares in the last quarter. Finally, Norges Bank purchased a new stake in Citigroup in the fourth quarter worth $2,800,944,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi is expected to collect about $70 million in fees from the SK Hynix listing, underscoring strength in its capital markets and advisory franchise. Article Title
• Positive Sentiment: Multiple pieces this week describe Citigroup (C) as one of the stronger large-bank names ahead of earnings, supported by resilient trading activity, investment banking momentum, and loan demand. Article Title
• Positive Sentiment: Analyst commentary and TV mentions have also kept Citi in the spotlight as a favored bank stock, suggesting continued institutional confidence in the name. Article Title
• Positive Sentiment: Earlier coverage said Citi’s Q1 results were the strongest among diversified banks, reinforcing the view that the company is executing well relative to peers. Article Title
• Neutral Sentiment: Citi also announced that SCB is now live with its 24/7 USD Clearing and Citi Token Services, a constructive step in digital payments infrastructure, but not a near-term earnings driver. Article Title

Analysts Set New Price Targets

Several analysts recently weighed in on C shares. Bank of America lifted their price target on shares of Citigroup from $170.00 to $176.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. The Goldman Sachs Group raised their target price on shares of Citigroup from $137.00 to $151.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. Wells Fargo & Company boosted their price target on shares of Citigroup from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, June 18th. Truist Financial raised their price objective on shares of Citigroup from $147.00 to $158.00 and gave the stock a “buy” rating in a report on Friday, June 26th. Finally, Wall Street Zen raised Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

Insider Buying and Selling

In related news, insider Edward Skyler sold 25,000 shares of the firm’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 transaction of $3,285,250.00. Following the completion of the transaction, the insider owned 182,022 shares of the company’s stock, valued at $23,919,511.02. This trade represents a 12.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Cunningham Dugan sold 2,117 shares of the business’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 completion of the sale, the director directly 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 company insiders.

Citigroup Stock Down 0.1%

Shares of Citigroup stock opened at $140.67 on Monday. Citigroup Inc. has a 1 year low of $85.61 and a 1 year high of $147.96. The firm has a market cap of $239.92 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 0.66 and a beta of 1.11. The company has a 50-day moving average of $133.71 and a 200 day moving average of $122.88. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.99 and a quick ratio of 0.99.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $22.96 billion. During the same quarter in the prior year, the company earned $1.96 earnings per share. The business’s revenue was up 14.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Citigroup Inc. will post 10.89 earnings per share for the current fiscal year.

Citigroup declared that its Board of Directors has initiated a stock repurchase program 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 programs are typically a sign that the company’s board believes its shares are 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.