OMERS ADMINISTRATION Corp Has $16.87 Million Holdings in Citigroup Inc. $C

OMERS ADMINISTRATION Corp lifted its holdings in Citigroup Inc. (NYSE:C) by 24.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 148,763 shares of the company’s stock after purchasing an additional 28,939 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Citigroup were worth $16,871,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Citigroup by 3.1% in the 4th 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. Geode Capital Management LLC boosted its stake in shares of Citigroup by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 43,252,372 shares of the company’s stock worth $5,036,712,000 after buying an additional 189,548 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Citigroup by 4.0% during the 4th quarter. Franklin Resources Inc. now owns 34,196,783 shares of the company’s stock worth $3,990,422,000 after buying an additional 1,326,224 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Citigroup by 2.6% in the 4th quarter. Fisher Asset Management LLC now owns 33,887,285 shares of the company’s stock valued at $3,954,307,000 after acquiring an additional 846,772 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Citigroup in the 4th quarter valued at about $2,800,944,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Insider Activity at Citigroup

In related news, Director John Cunningham Dugan sold 2,117 shares of the business’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 transaction, 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on C shares. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $150.00 target price on shares of Citigroup in a research report on Wednesday, July 15th. Zacks Research upgraded Citigroup from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Oppenheimer lowered Citigroup from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Citigroup in a research note on Friday, July 17th. Finally, Evercore set a $143.00 price objective on Citigroup in a report on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $145.67.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi analysts said the recent pullback in semiconductor stocks looks like a buying opportunity, which may support broader risk appetite and help sentiment around markets that Citigroup covers through its trading and research franchises. Pullback in chip stocks is a buying opportunity, Citi says
• Positive Sentiment: Citigroup was highlighted in a new CMBS deal update, after pricing an $817 million multifamily conduit transaction, reinforcing Citi’s role as an active lender and securitization player in U.S. commercial real estate. Citigroup (C) Sets Post GFC Record With $817 Million Multifamily CMBS Deal
• Neutral Sentiment: Citigroup reportedly closed a bullish South African rand trade after the currency looked “fragile” following South Africa’s surprise rate hold. This is more of a trading update than a major earnings driver, but it shows Citi is actively adjusting macro positions. Citi Drops Rand Bet After South Africa’s Surprise Rate Hold
• Neutral Sentiment: Separately, a headline noting Citi’s bearish view on the “Magnificent Seven” may reflect the bank’s broader market outlook, but it does not directly change Citigroup’s fundamentals. Wall Street Bank Just Declared the Magnificent 7 as “Dead” — What Happens Next?

Citigroup Trading Up 0.1%

Shares of NYSE:C opened at $131.95 on Friday. Citigroup Inc. has a 52-week low of $87.94 and a 52-week high of $147.96. The company has a market capitalization of $225.06 billion, a P/E ratio of 14.25, a price-to-earnings-growth ratio of 0.60 and a beta of 1.11. The company has a 50-day simple moving average of $135.01 and a 200 day simple moving average of $123.82. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 0.99.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, July 14th. The company reported $3.15 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.41. The business had revenue of $24.75 billion during the quarter, compared to analysts’ expectations of $23.74 billion. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.Citigroup’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the company posted $1.96 earnings per share. Sell-side analysts forecast that Citigroup Inc. will post 11.2 earnings per share for the current year.

Citigroup declared that its board has approved a share buyback program on Thursday, May 7th that authorizes the company to buyback $30.00 billion in shares. This buyback authorization authorizes the company to purchase up to 13.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, August 3rd will be paid a dividend of $0.67 per share. The ex-dividend date is Monday, August 3rd. This represents a $2.68 annualized dividend and a dividend yield of 2.0%. This is an increase from Citigroup’s previous quarterly dividend of $0.60. Citigroup’s dividend payout ratio is presently 25.92%.

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.