NFJ Investment Group LLC Lowers Stake in Citigroup Inc. $C

NFJ Investment Group LLC lessened its position in shares of Citigroup Inc. (NYSE:C) by 19.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 161,377 shares of the company’s stock after selling 38,290 shares during the period. NFJ Investment Group LLC’s holdings in Citigroup were worth $18,831,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Nicolet Advisory Services LLC grew its position in Citigroup by 38.1% during the fourth quarter. Nicolet Advisory Services LLC now owns 14,398 shares of the company’s stock valued at $1,695,000 after acquiring an additional 3,972 shares during the period. Focus Partners Wealth grew its position in Citigroup by 88.1% during the fourth quarter. Focus Partners Wealth now owns 678,775 shares of the company’s stock valued at $79,090,000 after acquiring an additional 317,990 shares during the period. Glen Eagle Advisors LLC grew its position in Citigroup by 19.9% during the fourth quarter. Glen Eagle Advisors LLC now owns 5,454 shares of the company’s stock valued at $636,000 after acquiring an additional 905 shares during the period. Landscape Capital Management L.L.C. grew its position in Citigroup by 19.8% during the fourth quarter. Landscape Capital Management L.L.C. now owns 24,905 shares of the company’s stock valued at $2,906,000 after acquiring an additional 4,121 shares during the period. Finally, Cornerstone Financial Management LLC purchased a new stake in Citigroup during the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Trading Up 1.2%

Shares of NYSE C opened at $139.68 on Friday. The stock’s 50 day moving average price is $127.34 and its two-hundred day moving average price is $118.06. Citigroup Inc. has a 52-week low of $76.11 and a 52-week high of $141.12. The stock has a market capitalization of $238.23 billion, a P/E ratio of 17.31, a PEG ratio of 0.62 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.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.43. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The firm had revenue of $24.63 billion for the quarter, compared to analysts’ expectations of $22.96 billion. During the same quarter in the prior year, the firm posted $1.96 earnings per share. Citigroup’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, analysts anticipate that Citigroup Inc. will post 10.68 earnings per share for the current fiscal year.

Citigroup Announces Dividend

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

Citigroup announced that its Board of Directors has authorized a share repurchase program on Thursday, May 7th that authorizes the company to buyback $30.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 13.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup launched tokenized Digital Depositary Receipts, creating a new blockchain-based way for clients to gain exposure to private companies and for issuers to tap liquidity, reinforcing Citi’s push into next-generation capital markets. Citigroup Is Rolling Out Tokenized Shares of Private Companies
• Positive Sentiment: Related coverage said Citi is expanding access to private markets with tokenized private-share trading, which could open a new fee-generating business line and strengthen its innovation story with large clients. Citigroup Expands Access to Private Markets With Tokenized Depositary Receipts
• Positive Sentiment: Trump praised Citigroup and CEO Jane Fraser as a top M&A adviser, which helped fuel momentum and reinforced confidence in Citi’s investment banking comeback. Citigroup shares outperform down market after Trump endorsement
• Positive Sentiment: Citi also continued building out its consumer and retail investment banking franchise with a new managing director hire, suggesting management is still investing in growth areas. Citi hires Ryan Beaupré as MD in consumer and retail investment banking push
• Neutral Sentiment: Citi completed the sale of its Polish consumer banking business, continuing its multi-year retreat from underperforming overseas markets. This supports simplification, but it also shows ongoing shrinkage in some international operations. Citi’s overseas retreat advances with sale of Polish business
• Neutral Sentiment: Reports that regulators are probing banks’ use of AI could raise compliance scrutiny for the sector, but there was no Citi-specific issue mentioned. Bank Regulators Probe Industry Use of AI

Wall Street Analyst Weigh In

C has been the subject of a number of research reports. Oppenheimer reissued an “outperform” rating and set a $145.00 price target on shares of Citigroup in a research report on Friday, May 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citigroup in a research report on Monday, April 20th. Wall Street Zen raised Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. JPMorgan Chase & Co. upped their target price on Citigroup from $131.00 to $135.50 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, Jefferies Financial Group initiated coverage on Citigroup in a research report on Thursday, March 26th. They issued a “buy” rating and a $135.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $137.62.

Insider Activity at Citigroup

In other news, insider Edward Skyler sold 25,000 shares of the stock in a transaction that occurred on 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 sale, the insider directly owned 182,022 shares in the company, valued at approximately $23,919,511.02. This represents a 12.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Cunningham Dugan sold 2,117 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $125.30, for a total value of $265,260.10. Following the sale, the director owned 12,194 shares in the company, valued at $1,527,908.20. The trade was a 14.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.11% of the company’s stock.

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.