Citigroup Inc. $C Stock Holdings Lifted by Mattson Financial Services LLC

Mattson Financial Services LLC grew its position in Citigroup Inc. (NYSE:C) by 236.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,186 shares of the company’s stock after purchasing an additional 9,267 shares during the period. Mattson Financial Services LLC’s holdings in Citigroup were worth $1,539,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Citigroup in the 4th quarter valued at approximately $2,800,944,000. Vanguard Group Inc. raised its position in Citigroup by 3.1% during the fourth 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 in the last quarter. Capital World Investors lifted its stake in Citigroup by 6.5% in the third quarter. Capital World Investors now owns 47,262,626 shares of the company’s stock valued at $4,797,292,000 after acquiring an additional 2,871,074 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in Citigroup in the fourth quarter worth approximately $298,082,000. Finally, SG Americas Securities LLC grew its position in Citigroup by 291.4% in the fourth quarter. SG Americas Securities LLC now owns 1,319,549 shares of the company’s stock worth $153,978,000 after acquiring an additional 2,008,946 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

C has been the topic of a number of recent research reports. Evercore set a $139.00 price target on shares of Citigroup in a report on Wednesday, April 15th. Wall Street Zen upgraded Citigroup from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Keefe, Bruyette & Woods boosted their price target on Citigroup from $140.00 to $153.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Zacks Research downgraded Citigroup from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Finally, Truist Financial set a $147.00 price objective on Citigroup in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $137.62.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup is rolling out tokenized depositary receipts for private-company shares, a move that could broaden access to private markets and create a new growth avenue for the bank. Article title
• Positive Sentiment: Reuters reported that Citi hired Ryan Beaupré as a managing director in its consumer and retail investment banking group, signaling continued effort to expand the franchise and deepen client coverage. Article title
• Positive Sentiment: Citigroup’s recent earnings beat and revenue growth continue to support the stock, with Q1 EPS and revenue both topping expectations and underscoring improving operating momentum. Article title
• Neutral Sentiment: President Trump publicly praised Citigroup and CEO Jane Fraser for M&A advisory work, which helped sentiment, but some reports noted the ranking was overstated, limiting the fundamental impact. Article title
• Neutral Sentiment: Market commentary also pointed to Citigroup’s turnaround progress, solid trading conditions, and a constructive investment banking outlook, which supports the stock but is largely a continuation of existing optimism. Article title

Insider Transactions at Citigroup

In related news, Director John Cunningham Dugan sold 2,117 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $125.30, for a total value of $265,260.10. Following the completion of the sale, the director 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Edward Skyler sold 25,000 shares of the firm’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 of the company’s stock, valued at $23,919,511.02. This represents a 12.08% decrease in their position. The SEC filing for this sale provides additional information. 0.11% of the stock is currently owned by corporate insiders.

Citigroup Stock Performance

Shares of C opened at $137.89 on Friday. The company has a market capitalization of $235.18 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 0.60 and a beta of 1.12. 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 Inc. has a one year low of $76.11 and a one year high of $138.23. The company’s fifty day moving average price is $126.85 and its 200 day moving average price is $117.91.

Citigroup (NYSE:C) last released its quarterly 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 period in the prior year, the company earned $1.96 earnings per share. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, analysts expect that Citigroup Inc. will post 10.68 earnings per share for the current year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were issued a dividend of $0.60 per share. The ex-dividend date was Monday, May 4th. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. Citigroup’s payout ratio is presently 29.74%.

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

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.