Swedbank AB Has $1.10 Billion Stock Position in Citigroup Inc. $C

Swedbank AB lowered its position in shares of Citigroup Inc. (NYSE:C) by 6.1% in the first quarter, HoldingsChannel reports. The fund owned 9,701,868 shares of the company’s stock after selling 632,103 shares during the period. Citigroup accounts for approximately 1.2% of Swedbank AB’s investment portfolio, making the stock its 12th largest holding. Swedbank AB’s holdings in Citigroup were worth $1,100,289,000 as of its most recent SEC filing.

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

Citigroup Trading Down 1.1%

C traded down $1.51 during mid-day trading on Tuesday, hitting $142.35. The stock had a trading volume of 2,687,347 shares, compared to its average volume of 13,618,338. The stock’s fifty day simple moving average is $132.80 and its 200-day simple moving average is $122.17. The firm has a market capitalization of $242.78 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 0.60 and a beta of 1.11. Citigroup Inc. has a 1-year low of $85.48 and a 1-year 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.

Citigroup (NYSE:C) last announced 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 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 analyst estimates of $22.96 billion. During the same quarter in the previous year, the business earned $1.96 EPS. The firm’s revenue was up 14.1% on a year-over-year basis. As a group, research analysts forecast that Citigroup Inc. will post 10.83 EPS for the current fiscal year.

Citigroup announced that its Board of Directors has approved 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 stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

C has been the topic of several analyst reports. Truist Financial increased their price objective on shares of Citigroup from $147.00 to $158.00 and gave the company a “buy” rating in a report on Friday, June 26th. Royal Bank Of Canada reiterated an “outperform” rating and set a $139.00 target price on shares of Citigroup in a research report on Wednesday, April 15th. Wall Street Zen upgraded Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Wells Fargo & Company lifted 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, UBS Group upped their price objective on Citigroup from $134.00 to $150.00 and gave the company a “neutral” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Citigroup presently 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: 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 other Citigroup news, 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 value of $3,285,250.00. Following the completion of the sale, the insider directly owned 182,022 shares in the company, valued at $23,919,511.02. This represents a 12.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 directly owned 12,194 shares in the company, valued at approximately $1,527,908.20. This represents a 14.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.11% of the company’s stock.

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.