Hsbc Holdings PLC Has $675.91 Million Stake in Citigroup Inc. $C

Hsbc Holdings PLC lifted its holdings in shares of Citigroup Inc. (NYSE:C) by 3.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,788,139 shares of the company’s stock after acquiring an additional 216,109 shares during the quarter. Hsbc Holdings PLC owned approximately 0.33% of Citigroup worth $675,915,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Bayban bought a new stake in Citigroup in the 4th quarter valued at $165,000. AG Campbell Advisory LLC acquired a new stake in Citigroup during the 4th quarter valued at $123,000. Pure Financial Advisors LLC boosted its position in Citigroup by 22.1% during the fourth quarter. Pure Financial Advisors LLC now owns 7,221 shares of the company’s stock worth $843,000 after purchasing an additional 1,307 shares during the period. Rehmann Capital Advisory Group increased its holdings in shares of Citigroup by 1.4% in the fourth quarter. Rehmann Capital Advisory Group now owns 7,551 shares of the company’s stock valued at $881,000 after purchasing an additional 105 shares during the last quarter. Finally, SHP Wealth Management acquired a new position in shares of Citigroup in the fourth quarter valued at $238,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Truist Financial set a $147.00 price objective on shares of Citigroup in a research report on Friday, May 1st. JPMorgan Chase & Co. upped their price target 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. Weiss Ratings reissued a “buy (b)” rating on shares of Citigroup in a report on Monday, April 20th. Jefferies Financial Group started coverage on shares of Citigroup in a research report on Thursday, March 26th. They set a “buy” rating and a $135.00 price objective for the company. Finally, Barclays boosted their price objective on Citigroup from $146.00 to $154.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $137.79.

Insider Transactions at Citigroup

In related news, Director John Cunningham Dugan sold 2,117 shares of the business’s stock in a transaction that occurred 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 approximately $1,527,908.20. The trade was a 14.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 value of $3,285,250.00. Following the completion of the sale, the insider owned 182,022 shares of the company’s stock, valued at approximately $23,919,511.02. This trade represents a 12.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.11% of the company’s stock.

Citigroup Stock Up 0.2%

C stock opened at $143.37 on Friday. Citigroup Inc. has a fifty-two week low of $77.50 and a fifty-two week high of $147.96. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $244.52 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 0.64 and a beta of 1.12. The business’s fifty day moving average price is $129.86 and its two-hundred day moving average price is $119.49.

Citigroup (NYSE:C) last announced its earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, beating 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 company had revenue of $24.63 billion during the quarter, compared to analysts’ expectations of $22.96 billion. During the same quarter in the previous year, the business posted $1.96 earnings per share. Citigroup’s quarterly revenue was up 14.1% on a year-over-year basis. On average, equities analysts anticipate that Citigroup Inc. will post 10.72 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.7%. Citigroup’s payout ratio is currently 29.74%.

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

Key Headlines Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi’s latest macro view suggests the Federal Reserve may keep rates higher for longer, which could boost net interest income for Citigroup (C) if short-term yields remain elevated. Citi Predicts Fed Rate Cuts Will Come Later Than Expected
• Positive Sentiment: The bank also announced a leadership move in Asia, appointing JianXun Toh to lead corporate banking in Japan, Asia North and Australia, reinforcing its push to grow institutional banking in a key region. Citigroup (C) Appoints JianXun Toh To Lead Corporate Banking In JANA
• Positive Sentiment: Analyst sentiment remains supportive, with Citigroup receiving a consensus “Moderate Buy” rating, which can help reinforce investor confidence in the stock. Citigroup Inc. (NYSE:C) Receives Consensus Recommendation of “Moderate Buy” from Analysts
• Neutral Sentiment: Citi also highlighted innovation in asset management with a new report on “operational alpha,” underscoring its broader financial-services research franchise, though the direct stock impact is limited. Citi and CREATE-Research Report: Innovation in Asset Management Pivots to ‘Operational Alpha’
• Negative Sentiment: A Reuters/Fox Business report said the Justice Department is probing transactions tied to a network linked to Iran’s supreme leader, including possible connections to Wall Street firms such as Citigroup, creating headline risk for the bank. DOJ probes JPMorgan, Citigroup transactions tied to Iran supreme leader’s business network

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.