Commonwealth of Pennsylvania Public School Empls Retrmt SYS Reduces Stock Position in Citigroup Inc. $C

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its position in shares of Citigroup Inc. (NYSE:C) by 2.2% during the 1st quarter, Holdings Channel.com reports. The fund owned 407,067 shares of the company’s stock after selling 9,134 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Citigroup were worth $46,165,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in 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 purchasing an additional 4,938,923 shares during the last quarter. Geode Capital Management LLC boosted 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 in the last quarter. Franklin Resources Inc. grew its stake in Citigroup by 4.0% in the 4th quarter. Franklin Resources Inc. now owns 34,196,783 shares of the company’s stock valued at $3,990,422,000 after acquiring an additional 1,326,224 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Citigroup by 2.6% during the 4th 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 acquired a new position in Citigroup during the fourth quarter worth about $2,800,944,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Trading Up 0.8%

C traded up $1.10 during trading on Friday, hitting $140.67. The company’s stock had a trading volume of 10,510,425 shares, compared to its average volume of 12,496,730. Citigroup Inc. has a twelve month low of $85.61 and a twelve month high of $147.96. The stock has a market cap of $239.92 billion, a PE ratio of 17.43, a PEG ratio of 0.66 and a beta of 1.11. The firm’s 50 day moving average price is $133.71 and its 200-day moving average price is $122.85. 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 released its earnings results on Tuesday, April 14th. The company reported $3.06 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 firm had revenue of $24.63 billion during the quarter, compared to analyst estimates of $22.96 billion. During the same period in the prior year, the firm posted $1.96 earnings per share. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, analysts expect that Citigroup Inc. will post 10.89 earnings per share for the current year.

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

Insider Transactions at Citigroup

In other news, insider Edward Skyler sold 25,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider owned 182,022 shares of the company’s stock, valued at $23,919,511.02. This represents a 12.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Cunningham Dugan sold 2,117 shares of the stock in a transaction dated Friday, May 8th. The stock was 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 approximately $1,527,908.20. The trade was a 14.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

C has been the subject of several research reports. UBS Group lifted their price objective on Citigroup from $134.00 to $150.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 7th. Keefe, Bruyette & Woods raised their price target on Citigroup from $140.00 to $153.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Truist Financial upped their price objective on Citigroup from $147.00 to $158.00 and gave the company a “buy” rating in a research report on Friday, June 26th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $139.00 price objective on shares of Citigroup in a research note on Wednesday, April 15th. Finally, Oppenheimer downgraded shares of Citigroup from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $145.00.

More Citigroup News

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

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.