Handelsbanken Fonder AB Has $81.34 Million Position in Citigroup Inc. $C

Handelsbanken Fonder AB grew its stake in shares of Citigroup Inc. (NYSE:C) by 7.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 697,054 shares of the company’s stock after purchasing an additional 48,139 shares during the period. Handelsbanken Fonder AB’s holdings in Citigroup were worth $81,339,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of 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 buying an additional 4,938,923 shares during the last quarter. Capital World Investors raised its position in shares of Citigroup by 6.5% during the third quarter. Capital World Investors now owns 47,262,626 shares of the company’s stock valued at $4,797,292,000 after buying an additional 2,871,074 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Citigroup by 2.7% during the third quarter. Fisher Asset Management LLC now owns 33,040,513 shares of the company’s stock valued at $3,353,612,000 after buying an additional 879,056 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Citigroup by 1.8% during the third quarter. Franklin Resources Inc. now owns 32,870,559 shares of the company’s stock valued at $3,336,362,000 after buying an additional 580,027 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Citigroup by 17.6% during the third quarter. Bank of New York Mellon Corp now owns 28,125,995 shares of the company’s stock valued at $2,854,788,000 after buying an additional 4,211,099 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on C. Truist Financial set a $147.00 price objective on shares of Citigroup in a research report on Friday, May 1st. Keefe, Bruyette & Woods upped their price objective on shares of Citigroup from $140.00 to $153.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Evercore set a $139.00 price objective on shares of Citigroup in a research report on Wednesday, April 15th. Zacks Research lowered shares of Citigroup from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Citigroup in a research report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.62.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup and BlackRock’s HPS announced a €15 billion private capital program to expand direct lending in EMEA, giving Citi another way to grow fee income and deepen its lending franchise. Citigroup and HPS Investment Partners, a part of BlackRock, Announce €15 Billion Private Capital Program to Expand Direct Lending in EMEA
• Positive Sentiment: Citigroup neared final approval for a wholly owned securities firm in China, which would let it directly offer investment banking and brokerage services onshore instead of relying on joint ventures. Citigroup Nears Final Approval for Wholly-Owned China Securities Firm
• Positive Sentiment: Investor sentiment was also helped by a Goldman Sachs Buy rating and $149 price target, with analysts pointing to a cleaner path to improved profitability and higher returns. Citigroup (C) Among the Best Value Stocks to Buy for Long Term Investment
• Neutral Sentiment: Broader financial stocks were higher on Monday afternoon, with the NYSE Financial Index up 1%, providing a mild sector tailwind for Citi. Sector Update: Financial Stocks Higher Monday Afternoon

Citigroup Stock Down 0.9%

Shares of C opened at $122.34 on Tuesday. The stock has a market cap of $208.66 billion, a price-to-earnings ratio of 15.16, a P/E/G ratio of 0.55 and a beta of 1.14. 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 Inc. has a 12 month low of $71.65 and a 12 month high of $135.29. The company has a 50-day moving average price of $119.77 and a two-hundred day moving average price of $114.28.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.63 by $0.43. The firm had revenue of $24.63 billion during the quarter, compared to analysts’ expectations of $22.96 billion. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.96 earnings per share. Equities analysts predict that Citigroup Inc. will post 10.65 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Monday, May 4th will be paid a dividend of $0.60 per share. The ex-dividend date is Monday, May 4th. This represents a $2.40 dividend on an annualized basis and a yield of 2.0%. Citigroup’s dividend payout ratio (DPR) is currently 29.74%.

Citigroup announced that its board has authorized a stock buyback program on Thursday, May 7th that permits the company to buyback $30.00 billion in shares. This buyback authorization permits the company to reacquire up to 13.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Citigroup

In other news, insider Edward Skyler sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $131.41, for a total transaction of $3,285,250.00. Following the completion of the sale, the insider owned 182,022 shares of the company’s stock, valued at approximately $23,919,511.02. This trade represents a 12.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John Cunningham Dugan sold 2,117 shares of the firm’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 directly owned 12,194 shares of the company’s stock, valued at approximately $1,527,908.20. The trade was a 14.79% 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.

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.