Triglav Investments D.O.O. Trims Stock Holdings in Citigroup Inc. $C

Triglav Investments D.O.O. reduced its position in Citigroup Inc. (NYSE:C) by 56.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,683 shares of the company’s stock after selling 45,629 shares during the quarter. Triglav Investments D.O.O.’s holdings in Citigroup were worth $4,046,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of C. Norges Bank acquired a new stake in shares of Citigroup during the fourth quarter worth about $2,800,944,000. Vanguard Group Inc. increased its position in Citigroup by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company’s stock valued at $19,048,467,000 after acquiring an additional 4,938,923 shares during the period. Eurizon Capital SGR S.p.A. purchased a new stake in Citigroup during the 4th quarter valued at approximately $298,082,000. SG Americas Securities LLC raised its stake in Citigroup by 291.4% during the 4th quarter. SG Americas Securities LLC now owns 1,319,549 shares of the company’s stock valued at $153,978,000 after acquiring an additional 2,008,946 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in Citigroup by 52.1% during the 3rd quarter. Alliancebernstein L.P. now owns 5,304,324 shares of the company’s stock worth $538,389,000 after acquiring an additional 1,816,786 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Truist Financial boosted their target price on Citigroup from $147.00 to $158.00 and gave the company a “buy” rating in a report on Friday, June 26th. JPMorgan Chase & Co. raised their target price on shares of Citigroup from $135.50 to $149.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Keefe, Bruyette & Woods lifted their target price on shares of Citigroup from $140.00 to $153.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Oppenheimer lowered shares of Citigroup from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. Finally, The Goldman Sachs Group raised their price objective on shares of Citigroup from $137.00 to $151.00 and gave the company a “buy” rating in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and an average target price of $145.00.

Insider Buying and Selling

In other 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 transaction of $265,260.10. Following the sale, the director owned 12,194 shares of the company’s stock, valued at $1,527,908.20. The trade was a 14.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Edward Skyler sold 25,000 shares of the company’s stock in a transaction that occurred on 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 owned 182,022 shares in the company, valued at approximately $23,919,511.02. This represents a 12.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.11% of the stock is currently owned by company insiders.

Citigroup News Summary

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 Stock Performance

NYSE:C opened at $140.67 on Monday. The firm’s fifty day simple moving average is $133.71 and its 200-day simple moving average is $122.88. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.59. The stock has a market cap of $239.92 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 0.66 and a beta of 1.11. Citigroup Inc. has a fifty-two week low of $85.61 and a fifty-two week high of $147.96.

Citigroup (NYSE:C) last announced its quarterly earnings data 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 net margin of 9.35% and a return on equity of 9.19%. The firm had revenue of $24.63 billion during the quarter, compared to analysts’ expectations of $22.96 billion. During the same quarter last year, the business earned $1.96 earnings per share. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. Analysts expect that Citigroup Inc. will post 10.89 earnings per share for the current fiscal year.

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

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.