Swedbank AB Sells 632,103 Shares of Citigroup Inc. $C

Swedbank AB cut its position in shares of Citigroup Inc. (NYSE:C) by 6.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,701,868 shares of the company’s stock after selling 632,103 shares during the period. Citigroup comprises about 1.2% of Swedbank AB’s investment portfolio, making the stock its 12th largest position. Swedbank AB owned about 0.57% of Citigroup worth $1,100,289,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Mcguire Capital Advisors Inc. acquired a new stake in shares of Citigroup during the 4th quarter valued at about $25,000. Richards Merrill & Peterson Inc. acquired a new position in Citigroup in the fourth quarter worth about $28,000. TD Capital Management LLC acquired a new position in Citigroup in the fourth quarter worth about $28,000. Luken Investment Analytics LLC bought a new position in Citigroup during the fourth quarter worth about $32,000. Finally, High Note Wealth LLC boosted its holdings in Citigroup by 107.7% during the fourth quarter. High Note Wealth LLC now owns 270 shares of the company’s stock valued at $32,000 after purchasing an additional 140 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Price Performance

NYSE C traded down $1.51 during trading hours on Tuesday, reaching $142.35. 2,687,347 shares of the company’s stock were exchanged, compared to its average volume of 13,618,338. The firm has a fifty day moving average of $132.80 and a 200-day moving average of $122.17. Citigroup Inc. has a one year low of $85.48 and a one year high of $147.96. The stock has a market cap of $242.78 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 0.60 and a beta of 1.11. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59.

Citigroup (NYSE:C) last issued its quarterly earnings data 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. The firm had revenue of $24.63 billion during the quarter, compared to the consensus estimate of $22.96 billion. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.96 EPS. On average, equities research analysts predict that Citigroup Inc. will post 10.83 earnings per share for the current fiscal year.

Citigroup declared that its board has authorized a stock repurchase program on Thursday, May 7th that authorizes the company to repurchase $30.00 billion in shares. This repurchase authorization authorizes the company to buy up to 13.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Bank of America raised its price target on Citigroup to $176 from $170 and reiterated a buy rating, signaling confidence in further upside for the stock. Benzinga
• Positive Sentiment: UBS also lifted its target on Citigroup to $150 from $134, while JPMorgan raised its target to $149 and maintained an overweight view, reinforcing a broadly bullish analyst tone. Benzinga
• Positive Sentiment: Investors are positioning for Citigroup’s upcoming earnings, with Wall Street expecting earnings growth and some previews suggesting the bank could beat estimates on improved revenue and trading activity. Zacks
• Positive Sentiment: Separately, Citi was highlighted in a broader bank-sector note saying trading and investment-banking revenues may come in better than previously expected, which could support upcoming earnings across large banks. Yahoo Finance
• Neutral Sentiment: Citi also announced a new role as a clearing member of London Precious Metals Clearing Limited, expanding its commodities and precious-metals settlement capabilities. Business Wire
• Neutral Sentiment: Markets also noted Citi’s appointment as depositary bank for Vicore Pharma’s ADR program, a routine capital-markets win that adds modestly to fee-generating activity. Yahoo Finance

Insider Activity

In related news, Director John Cunningham Dugan sold 2,117 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $125.30, for a total transaction of $265,260.10. Following the transaction, the director owned 12,194 shares in the company, valued at $1,527,908.20. This represents a 14.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edward Skyler sold 25,000 shares of the 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 sale, the insider directly owned 182,022 shares in the company, valued at approximately $23,919,511.02. This represents a 12.08% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.11% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on C. Truist Financial upped their price objective on Citigroup from $147.00 to $158.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Jefferies Financial Group assumed coverage on Citigroup in a research note on Thursday, March 26th. They issued a “buy” rating and a $135.00 price target on the stock. UBS Group upped their price target on Citigroup from $134.00 to $150.00 and gave the company a “neutral” rating in a research report on Tuesday. Wells Fargo & Company increased their price objective on Citigroup from $162.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, June 18th. Finally, The Goldman Sachs Group lifted their price objective on Citigroup from $137.00 to $151.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $145.00.

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.