Nykredit A S Purchases New Stake in Citigroup Inc. $C

Nykredit A S acquired a new position in shares of Citigroup Inc. (NYSE:C) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 3,274,327 shares of the company’s stock, valued at approximately $458,275,000. Citigroup makes up about 1.5% of Nykredit A S’s portfolio, making the stock its 10th largest holding.

A number of other hedge funds have also recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Citigroup during the fourth quarter worth about $2,800,944,000. Bank of New York Mellon Corp bought a new position in Citigroup in the 2nd quarter valued at about $3,244,602,000. Eurizon Capital SGR S.p.A. acquired a new position in Citigroup during the 4th quarter valued at about $298,082,000. SEB Asset Management AB bought a new stake in Citigroup during the 1st quarter worth approximately $252,972,000. Finally, OMERS ADMINISTRATION Corp increased its holdings in Citigroup by 1,137.1% during the 2nd quarter. OMERS ADMINISTRATION Corp now owns 1,840,374 shares of the company’s stock worth $257,579,000 after purchasing an additional 1,691,611 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Institutional payments technology milestone: Citi said its Services business completed live transactions on Swift’s blockchain-based ledger with First Abu Dhabi Bank and OCBC. The initiative supports always-on, cross-currency payments and strengthens Citi’s positioning in digital infrastructure for global institutional clients. Citi’s Services Business Pioneers Live Transactions on Swift’s Ledger
• Positive Sentiment: Favorable bank-sector rotation: Investors are moving into major banks on expectations that rising rates could support lending returns and net interest income. Citi may also benefit from reduced investor concern about artificial-intelligence disruption compared with technology-heavy sectors. Expectations of Rising Rates and Worries About AI Have Investors Piling Into Big Bank Stocks
• Positive Sentiment: Potential cost savings from AI: Citi is using artificial intelligence to review and negotiate outside law-firm billing, potentially lowering legal expenses across capital-markets, compliance and banking operations. Citigroup Uses AI to Push Law Firms on Fees
• Positive Sentiment: Analyst backdrop remains supportive: Citi has outperformed the broader financial sector over the past year, while analysts are described as moderately optimistic. The company also recently reported quarterly EPS of $3.15 versus the $2.74 consensus and revenue of $24.77 billion versus expectations of $23.74 billion. Citigroup Stock: Is C Outperforming the Financial Sector?
• Neutral Sentiment: Regulatory overhang: The U.K. fined Citigroup £4.7 million for breaches related to Russia sanctions. The financial penalty is modest relative to Citi’s size, but the issue highlights ongoing compliance and control risks. Citigroup Fined £4.7 Million in UK for Russia Sanctions Breaches

Analysts Set New Price Targets

A number of research analysts have recently weighed in on C shares. Wall Street Zen lowered Citigroup from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Wells Fargo & Company upped their price target on Citigroup from $162.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, June 18th. Morgan Stanley increased their price target on Citigroup from $154.00 to $164.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. Weiss Ratings upgraded Citigroup from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, August 24th. Finally, Oppenheimer downgraded shares of Citigroup from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 30th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $145.22.

Citigroup Stock Up 1.4%

C stock opened at $134.38 on Thursday. The stock’s fifty day simple moving average is $135.47 and its two-hundred day simple moving average is $127.16. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71. Citigroup Inc. has a 1-year low of $93.40 and a 1-year high of $147.96. The stock has a market cap of $229.20 billion, a P/E ratio of 14.51, a P/E/G ratio of 0.60 and a beta of 1.12.

Citigroup (NYSE:C) last announced its earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.74 by $0.41. The firm had revenue of $24.77 billion during the quarter, compared to analyst estimates of $23.74 billion. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The business’s revenue was up 14.5% compared to the same quarter last year. During the same period last year, the firm posted $1.96 EPS. Analysts expect that Citigroup Inc. will post 11.21 EPS for the current year.

Citigroup declared that its board has authorized a share buyback plan on Thursday, May 7th that authorizes the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 13.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 3rd were issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 2.0%. This is a boost from Citigroup’s previous quarterly dividend of $0.60. The ex-dividend date was Monday, August 3rd. Citigroup’s dividend payout ratio is 28.94%.

About Citigroup

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.