AMF Tjanstepension AB grew its position in shares of Citigroup Inc. (NYSE:C – Free Report) by 26.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,084,959 shares of the company’s stock after buying an additional 229,654 shares during the period. Citigroup makes up 0.8% of AMF Tjanstepension AB’s holdings, making the stock its 28th biggest position. AMF Tjanstepension AB’s holdings in Citigroup were worth $126,604,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Richards Merrill & Peterson Inc. acquired a new stake in shares of Citigroup during the 4th quarter worth $28,000. Dunhill Financial LLC grew its holdings in shares of Citigroup by 92.2% during the 3rd quarter. Dunhill Financial LLC now owns 319 shares of the company’s stock worth $32,000 after purchasing an additional 153 shares in the last quarter. Luken Investment Analytics LLC acquired a new stake in shares of Citigroup during the 4th quarter worth $32,000. High Note Wealth LLC grew its holdings in shares of 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. Finally, Guerra Advisors Inc acquired a new stake in shares of Citigroup during the 3rd quarter worth $33,000. Institutional investors own 71.72% of the company’s stock.
Citigroup Stock Performance
NYSE:C opened at $122.34 on Tuesday. The stock’s 50-day simple moving average is $119.77 and its 200 day simple moving average is $114.28. The firm has a market capitalization of $208.66 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 0.55 and a beta of 1.14. 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 Inc. has a twelve month low of $71.65 and a twelve month high of $135.29.
Citigroup Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, May 4th. This represents a $2.40 annualized dividend and a yield of 2.0%. Citigroup’s dividend payout ratio (DPR) is 29.74%.
Citigroup declared that its board has approved a stock repurchase plan on Thursday, May 7th that permits the company to repurchase $30.00 billion in shares. This repurchase authorization permits the company to repurchase up to 13.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on C shares. Wells Fargo & Company increased their target price on Citigroup from $160.00 to $162.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. increased their target price on Citigroup from $131.00 to $135.50 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Royal Bank Of Canada reissued an “outperform” rating and set a $139.00 target price on shares of Citigroup in a report on Wednesday, April 15th. Jefferies Financial Group started coverage on Citigroup in a report on Thursday, March 26th. They set a “buy” rating and a $135.00 target price on the stock. Finally, Piper Sandler reissued an “overweight” rating and set a $145.00 target price (up from $125.00) on shares of Citigroup in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $137.62.
Read Our Latest Analysis on Citigroup
Insider Activity
In other Citigroup news, 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 value of $265,260.10. Following the completion of the transaction, the director directly owned 12,194 shares in the company, valued at approximately $1,527,908.20. This trade represents a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edward Skyler sold 25,000 shares of the 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 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 ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.11% of the company’s stock.
More Citigroup News
Here are the key news stories impacting Citigroup this week:
- Positive Sentiment: Citigroup and BlackRock’s HPS announced a €15 billion private capital program to expand direct lending in EMEA, giving Citi another way to grow fee income and deepen its lending franchise. Citigroup and HPS Investment Partners, a part of BlackRock, Announce €15 Billion Private Capital Program to Expand Direct Lending in EMEA
- Positive Sentiment: Citigroup neared final approval for a wholly owned securities firm in China, which would let it directly offer investment banking and brokerage services onshore instead of relying on joint ventures. Citigroup Nears Final Approval for Wholly-Owned China Securities Firm
- Positive Sentiment: Investor sentiment was also helped by a Goldman Sachs Buy rating and $149 price target, with analysts pointing to a cleaner path to improved profitability and higher returns. Citigroup (C) Among the Best Value Stocks to Buy for Long Term Investment
- Neutral Sentiment: Broader financial stocks were higher on Monday afternoon, with the NYSE Financial Index up 1%, providing a mild sector tailwind for Citi. Sector Update: Financial Stocks Higher Monday Afternoon
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.
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