Pzena Investment Management LLC Sells 2,439,770 Shares of Citigroup Inc. $C

Pzena Investment Management LLC cut its stake in shares of Citigroup Inc. (NYSE:C) by 23.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,175,364 shares of the company’s stock after selling 2,439,770 shares during the quarter. Citigroup comprises approximately 3.0% of Pzena Investment Management LLC’s investment portfolio, making the stock its 9th biggest holding. Pzena Investment Management LLC’s holdings in Citigroup were worth $927,168,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Truist Financial Corp raised its position in Citigroup by 4.7% during the fourth quarter. Truist Financial Corp now owns 375,977 shares of the company’s stock valued at $43,873,000 after acquiring an additional 16,744 shares in the last quarter. Gunderson Capital Management Inc. purchased a new stake in Citigroup in the 4th quarter worth approximately $7,165,000. Brighton Jones LLC boosted its position in Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after purchasing an additional 12,499 shares in the last quarter. UniSuper Management Pty Ltd grew its stake in shares of Citigroup by 38.8% during the 4th quarter. UniSuper Management Pty Ltd now owns 1,306,851 shares of the company’s stock worth $152,496,000 after purchasing an additional 365,041 shares during the period. Finally, Nordea Investment Management AB grew its stake in shares of Citigroup by 11.8% during the 4th quarter. Nordea Investment Management AB now owns 7,986,407 shares of the company’s stock worth $933,891,000 after purchasing an additional 844,056 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup passed the Fed’s 2026 stress test, supporting the case for a larger dividend and signaling solid capital resilience. 3 Big Banks Plan Double Digit Dividend Increases After Passing Fed Stress Test (C)
• Positive Sentiment: Analysts have raised earnings expectations for Citigroup, which can help reinforce investor confidence ahead of its next quarterly report. Citigroup Inc. Stock Overview
• Positive Sentiment: Wall Street commentary continues to frame Citigroup as a potential earnings beat candidate, suggesting fundamentals may remain better than feared. Will Citigroup (C) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Citigroup announced redemptions of $2.5 billion in 2026 notes, a routine capital-management action that is more likely to be viewed as balance-sheet housekeeping than a major stock catalyst. Citibank Announces $1.5 Billion Redemption of 4.929% Notes Due 2026 and $1 Billion Redemption of Floating Rate Notes Due 2026
• Negative Sentiment: Citigroup’s crypto research was broadly bearish, with the firm cutting bitcoin and ether price targets on weaker investor appetite and ETF outflows; that’s not a direct hit to Citigroup’s core banking business, but it may weigh on sentiment around its digital-assets outlook. Citi cuts bitcoin, ether forecasts as ETF flows turn negative
• Negative Sentiment: A separate market note warned that bank stocks may be getting stretched after a strong run, which could encourage some investors to take profits in Citigroup and peers. Bank Stocks Are Doing Great, but It’s Time to ‘Take the Money and Run’

Analysts Set New Price Targets

C has been the subject of several analyst reports. Evercore set a $139.00 target price on shares of Citigroup in a research note on Wednesday, April 15th. Morgan Stanley lifted their target price on shares of Citigroup from $154.00 to $164.00 and gave the company an “overweight” rating in a research report on Monday. Jefferies Financial Group assumed coverage on Citigroup in a research report on Thursday, March 26th. They set a “buy” rating and a $135.00 price target for the company. The Goldman Sachs Group upped their price objective on shares of Citigroup from $137.00 to $151.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Finally, Keefe, Bruyette & Woods raised their target price on Citigroup from $140.00 to $153.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $139.62.

Citigroup Stock Up 0.1%

Citigroup stock opened at $140.13 on Thursday. The company has a market capitalization of $239.00 billion, a PE ratio of 17.36, a price-to-earnings-growth ratio of 0.60 and a beta of 1.11. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99. Citigroup Inc. has a fifty-two week low of $85.46 and a fifty-two week high of $147.96. The firm has a 50 day moving average price of $132.12 and a 200 day moving average price of $121.55.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, topping 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 business had revenue of $24.63 billion during the quarter, compared to analyst estimates of $22.96 billion. During the same period last year, the business posted $1.96 earnings per share. The company’s quarterly revenue was up 14.1% on a year-over-year basis. Research analysts expect that Citigroup Inc. will post 10.83 earnings per share for the current year.

Citigroup declared that its Board of Directors has approved a stock buyback plan on Thursday, May 7th that allows the company to repurchase $30.00 billion in shares. This repurchase authorization allows the company to reacquire up to 13.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at Citigroup

In other Citigroup news, 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 value of $3,285,250.00. Following the completion of the transaction, the insider directly 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. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Cunningham Dugan sold 2,117 shares of the business’s stock in a transaction dated 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 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 disclosure for this sale is available in the SEC filing. Company 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.