Citigroup Inc. $C Shares Sold by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. lessened its position in Citigroup Inc. (NYSE:C) by 8.2% during the fourth quarter, Holdings Channel reports. The fund owned 82,946 shares of the company’s stock after selling 7,453 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Citigroup were worth $9,679,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of C. Vanguard Group Inc. increased its position in Citigroup by 3.1% in the 4th 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 during the period. Capital World Investors increased its position in Citigroup by 6.5% in the 3rd quarter. Capital World Investors now owns 47,262,626 shares of the company’s stock valued at $4,797,292,000 after acquiring an additional 2,871,074 shares during the period. Fisher Asset Management LLC increased its position in Citigroup by 2.7% in the 3rd quarter. Fisher Asset Management LLC now owns 33,040,513 shares of the company’s stock valued at $3,353,612,000 after acquiring an additional 879,056 shares during the period. Franklin Resources Inc. increased its position in Citigroup by 1.8% in the 3rd quarter. Franklin Resources Inc. now owns 32,870,559 shares of the company’s stock valued at $3,336,362,000 after acquiring an additional 580,027 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Citigroup by 17.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 28,125,995 shares of the company’s stock valued at $2,854,788,000 after acquiring an additional 4,211,099 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup shareholders approved an expanded stock incentive plan at the company’s May 20 annual meeting, which should give management more flexibility to retain and motivate employees through equity compensation. Citigroup Shareholders Approve Expanded Stock Incentive Plan
• Positive Sentiment: Several commentary pieces highlighted Citigroup as undervalued or attractive for income-focused investors, reinforcing the view that the stock still has room to rerate after recent earnings improvement. 5 Most Undervalued US Stocks According to Hedge Funds Why Citigroup (C) is a Top Dividend Stock for Your Portfolio
• Neutral Sentiment: Citigroup also remained active in market commentary on India IPOs and currency controls, but these reports are more about its broader banking views than a direct business update for the company. Citi sees India IPOs hitting fresh records despite challenges Citi Sees India IPOs Hitting Fresh Records Despite Challenges
• Neutral Sentiment: There was also a report that Trump backed away from requiring banks to collect citizenship information, which slightly reduces regulatory overhang but does not materially change Citigroup’s near-term fundamentals. Trump backs down from idea of banks collecting citizenship information
• Negative Sentiment: On the other hand, Citi faced fresh governance scrutiny after a separate report said more shareholders voted against the bank’s say-on-pay proposal, signaling some dissatisfaction with executive compensation practices. More Citi shareholders vote ‘no’ on say-on-pay

Citigroup Stock Up 0.3%

Shares of C stock opened at $125.19 on Friday. Citigroup Inc. has a 1 year low of $71.65 and a 1 year high of $135.29. The stock has a market cap of $213.51 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 0.56 and a beta of 1.14. The business’s fifty day moving average is $120.72 and its 200-day moving average is $114.77. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) 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 analysts’ expectations of $22.96 billion. During the same period last year, the firm earned $1.96 EPS. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities analysts expect that Citigroup Inc. will post 10.65 earnings per share for the current fiscal year.

Citigroup declared that its Board of Directors has approved a share repurchase plan on Thursday, May 7th that permits the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 13.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Monday, May 4th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, May 4th. This represents a $2.40 annualized dividend and a dividend yield of 1.9%. Citigroup’s payout ratio is currently 29.74%.

Insider Buying and Selling

In related news, insider Edward Skyler sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were 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 of the company’s stock, valued at approximately $23,919,511.02. The trade was a 12.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John Cunningham Dugan sold 2,117 shares of the business’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 completion of the transaction, the director owned 12,194 shares in the company, valued at $1,527,908.20. This trade represents a 14.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on C shares. Truist Financial set a $147.00 target price on Citigroup in a research report on Friday, May 1st. Keefe, Bruyette & Woods raised their target price on shares of Citigroup from $140.00 to $153.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. raised their target price on shares of Citigroup from $131.00 to $135.50 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Jefferies Financial Group began coverage on shares of Citigroup in a research note on Thursday, March 26th. They set a “buy” rating and a $135.00 target price on the stock. Finally, Wall Street Zen raised shares of Citigroup from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.