Fisher Asset Management LLC Has $3.95 Billion Holdings in Citigroup Inc. $C

Fisher Asset Management LLC raised its position in shares of Citigroup Inc. (NYSE:C) by 2.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 33,887,285 shares of the company’s stock after purchasing an additional 846,772 shares during the quarter. Citigroup makes up approximately 1.3% of Fisher Asset Management LLC’s investment portfolio, making the stock its 19th largest holding. Fisher Asset Management LLC’s holdings in Citigroup were worth $3,954,307,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Richards Merrill & Peterson Inc. acquired a new stake in Citigroup during the 4th quarter valued at approximately $28,000. Dunhill Financial LLC increased its position in Citigroup by 92.2% during the 3rd quarter. Dunhill Financial LLC now owns 319 shares of the company’s stock valued at $32,000 after purchasing an additional 153 shares during the period. Luken Investment Analytics LLC acquired a new stake in Citigroup during the 4th quarter valued at approximately $32,000. High Note Wealth LLC grew its position in shares of Citigroup by 107.7% during the 4th quarter. High Note Wealth LLC now owns 270 shares of the company’s stock worth $32,000 after buying an additional 140 shares during the period. Finally, Guerra Advisors Inc bought a new stake in shares of Citigroup in the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Performance

NYSE:C opened at $125.10 on Monday. The company has a fifty day moving average of $121.04 and a 200-day moving average of $114.93. Citigroup Inc. has a twelve month low of $71.65 and a twelve month high of $135.29. 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 market capitalization of $213.36 billion, a P/E ratio of 15.50, a P/E/G ratio of 0.56 and a beta of 1.14.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.63 by $0.43. The business had revenue of $24.63 billion during the quarter, compared to analyst estimates of $22.96 billion. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. Citigroup’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.96 EPS. As a group, sell-side analysts anticipate that Citigroup Inc. will post 10.65 EPS for the current year.

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

Citigroup Dividend Announcement

The firm also recently declared 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. This represents a $2.40 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Monday, May 4th. Citigroup’s payout ratio is 29.74%.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup announced a private credit partnership with BlackRock’s HPS Investment Partners, a large €15 billion deal aimed at expanding direct lending across Europe, the U.K., and later the Middle East. The move could help Citi deepen its presence in private credit and generate new fee income. Citigroup (C) Forms Private Credit Partnership With BlackRock
• Positive Sentiment: Citi’s wealth business is also expanding, with management saying a significant share of new global hiring will be focused on Asia, where the private bank is growing faster and producing better productivity. That supports the bank’s restructuring story and long-term profitability goals. Citi to boost Asia wealth business with ‘significant’ hires, global head says
• Positive Sentiment: Citigroup shareholder approval of an expanded stock incentive plan suggests investors are backing management’s compensation and retention strategy, which can help support execution on the company’s turnaround plan. Citigroup Shareholders Approve Expanded Stock Incentive Plan
• Positive Sentiment: Citigroup also continues to benefit from a broader favorable view from analysts, including comments that Q1 results confirmed improving earnings momentum. Citigroup Upgraded As Q1 Results Confirm Earnings Improvement Direction For Banking Giant
• Neutral Sentiment: Separate commentary noted Citi expects India IPO activity to recover later this year, which is positive for capital markets activity but is more of a medium-term driver than an immediate stock catalyst. Citi sees India IPOs hitting fresh records despite challenges
• Negative Sentiment: One potential overhang is governance pressure: a separate report said more Citi shareholders voted against the bank’s say-on-pay resolution, reflecting concern about executive compensation and Jane Fraser’s pay package. More Citi shareholders vote ‘no’ on say-on-pay

Insiders Place Their Bets

In other Citigroup news, insider Edward Skyler sold 25,000 shares of the business’s stock in a transaction 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 in the company, valued at approximately $23,919,511.02. The trade was a 12.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John Cunningham Dugan sold 2,117 shares of the business’s stock in a transaction on Friday, May 8th. The shares were 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 of the company’s stock, valued at $1,527,908.20. This trade represents a 14.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on C. The Goldman Sachs Group lifted 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. JPMorgan Chase & Co. lifted their price objective on shares of Citigroup from $131.00 to $135.50 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Zacks Research lowered shares of Citigroup from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Citigroup in a research note on Monday, April 20th. Finally, Evercore set a $139.00 price objective on shares of Citigroup in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $137.62.

Citigroup 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.