Capital Research Global Investors Sells 7,605 Shares of Citigroup Inc. $C

Capital Research Global Investors decreased its stake in shares of Citigroup Inc. (NYSE:C) by 0.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,543,822 shares of the company’s stock after selling 7,605 shares during the period. Capital Research Global Investors’ holdings in Citigroup were worth $530,219,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Richards Merrill & Peterson Inc. purchased a new stake in Citigroup during the 4th quarter worth about $28,000. Luken Investment Analytics LLC purchased a new stake in Citigroup during the 4th quarter worth about $32,000. High Note Wealth LLC lifted its holdings in Citigroup by 107.7% during the 4th quarter. High Note Wealth LLC now owns 270 shares of the company’s stock worth $32,000 after purchasing an additional 140 shares in the last quarter. Entrust Financial LLC purchased a new stake in Citigroup during the 4th quarter worth about $34,000. Finally, Maseco LLP purchased a new stake in Citigroup during the 4th quarter worth about $35,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

NYSE:C opened at $132.62 on Monday. The business’s 50-day moving average price is $124.87 and its two-hundred day moving average price is $116.89. Citigroup Inc. has a twelve month low of $76.11 and a twelve month high of $135.83. The stock has a market cap of $226.19 billion, a P/E ratio of 16.43, a PEG ratio of 0.59 and a beta of 1.12. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.59.

Citigroup (NYSE:C) last released 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. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The firm had revenue of $24.63 billion for the quarter, compared to analysts’ expectations of $22.96 billion. During the same quarter last year, the firm posted $1.96 EPS. The company’s revenue was up 14.1% compared to the same quarter last year. As a group, equities analysts predict that Citigroup Inc. will post 10.68 EPS for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. Citigroup’s dividend payout ratio (DPR) is presently 29.74%.

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

Wall Street Analysts Forecast Growth

C has been the topic of a number of recent research reports. Jefferies Financial Group initiated coverage on Citigroup in a report on Thursday, March 26th. They set a “buy” rating and a $135.00 price objective on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Citigroup in a report on Monday, April 20th. Royal Bank Of Canada reissued an “outperform” rating and set a $139.00 price objective on shares of Citigroup in a report on Wednesday, April 15th. Oppenheimer reissued an “outperform” rating and set a $145.00 price objective on shares of Citigroup in a report on Friday, May 8th. Finally, Evercore set a $139.00 price objective on Citigroup in a report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $137.62.

Key Headlines Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup reshuffled senior leadership, naming Margo Pilic head of strategy, M&A, and investor relations, a move that could improve execution and simplify decision-making as CEO Jane Fraser continues the bank’s transformation. Citigroup Reshapes Leadership As It Pushes Into Tokenized Deposits
• Positive Sentiment: The bank is joining JPMorgan Chase, Bank of America, and other large lenders on a blockchain-based tokenized deposit network, signaling that Citi wants to stay competitive in next-generation payments and possibly benefit from lower-friction transaction infrastructure. JPMorgan, Citi and Big Banks Plan New Tokenized Deposit System to Answer Crypto
• Positive Sentiment: Investors are also responding to Citi’s growing use of AI in operations, including a document-review system that cuts account-opening review time from about an hour to 15 minutes, which may point to better efficiency and cost savings over time. Citi Used AI to Shrink a 60-Minute Document Review to 15 Minutes
• Neutral Sentiment: Citi also announced redemptions of $3.15 billion of notes due in 2027, a routine balance-sheet management move that does not appear to be a major catalyst on its own. Citigroup Announces $2.75 Billion Redemption…
• Neutral Sentiment: Several headlines about Citi’s stock becoming overextended and the broader market looking “frothy” may temper enthusiasm, but they read more like caution flags than direct negatives for the company’s fundamentals. The stock market is at its frothiest…

Insider Activity

In other Citigroup news, Director John Cunningham Dugan sold 2,117 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $125.30, for a total value of $265,260.10. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Edward Skyler sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The shares were 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 approximately $23,919,511.02. The trade was a 12.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.11% of the company’s stock.

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.