Nuveen LLC Decreases Holdings in Citigroup Inc. $C

Nuveen LLC lessened its stake in shares of Citigroup Inc. (NYSE:C) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,159,085 shares of the company’s stock after selling 280,413 shares during the period. Nuveen LLC owned about 0.74% of Citigroup worth $1,535,534,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Xponance LLC increased its holdings in Citigroup by 4.5% during the fourth quarter. Xponance LLC now owns 315,972 shares of the company’s stock worth $36,871,000 after buying an additional 13,654 shares during the last quarter. UniSuper Management Pty Ltd increased its holdings in Citigroup by 38.8% during the fourth quarter. UniSuper Management Pty Ltd now owns 1,306,851 shares of the company’s stock worth $152,496,000 after buying an additional 365,041 shares during the last quarter. Mattson Financial Services LLC increased its holdings in Citigroup by 236.5% during the fourth quarter. Mattson Financial Services LLC now owns 13,186 shares of the company’s stock worth $1,539,000 after buying an additional 9,267 shares during the last quarter. SmartHarvest Portfolios LLC purchased a new stake in Citigroup during the fourth quarter worth about $670,000. Finally, Lyell Wealth Management LP purchased a new stake in Citigroup during the fourth quarter worth about $242,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on C. Royal Bank Of Canada restated an “outperform” rating and set a $139.00 price objective on shares of Citigroup in a report on Wednesday, April 15th. JPMorgan Chase & Co. raised their price objective on shares of Citigroup from $131.00 to $135.50 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Barclays raised their price objective on shares of Citigroup from $146.00 to $154.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Morgan Stanley raised their price objective on shares of Citigroup from $140.00 to $144.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Finally, Wells Fargo & Company raised their price objective on shares of Citigroup from $160.00 to $162.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. One research 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $137.62.

Insider Activity

In other news, Director John Cunningham Dugan sold 2,117 shares of Citigroup 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 transaction, the director owned 12,194 shares in the company, valued at $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 is available at the SEC website. Also, insider Edward Skyler sold 25,000 shares of Citigroup stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $131.41, for a total transaction 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. The trade was 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 owned by company insiders.

Key Headlines Impacting Citigroup

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

Citigroup Price Performance

C opened at $137.89 on Friday. The company has a market capitalization of $235.18 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 0.60 and a beta of 1.12. 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 firm has a 50-day moving average price of $126.85 and a 200-day moving average price of $117.91. Citigroup Inc. has a twelve month low of $76.11 and a twelve month high of $138.23.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.43. The firm had revenue of $24.63 billion during the quarter, compared to the consensus estimate of $22.96 billion. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The company’s revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the company earned $1.96 earnings per share. Equities analysts expect that Citigroup Inc. will post 10.68 EPS for the current year.

Citigroup Dividend Announcement

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

Citigroup declared that its board has approved a share repurchase plan on Thursday, May 7th that permits the company to buyback $30.00 billion in shares. This buyback authorization permits the company to repurchase up to 13.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are 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.