Citigroup Inc. $C Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its stake in Citigroup Inc. (NYSE:C) by 13.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,872,525 shares of the company’s stock after selling 293,492 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Citigroup were worth $212,363,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Citigroup in the fourth quarter valued at about $2,800,944,000. Vanguard Group Inc. lifted its position in Citigroup by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company’s stock worth $19,048,467,000 after acquiring an additional 4,938,923 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in Citigroup during the 4th quarter worth approximately $298,082,000. SEB Asset Management AB purchased a new position in Citigroup in the 1st quarter worth approximately $252,972,000. Finally, Deutsche Bank AG boosted its holdings in Citigroup by 28.4% in the 4th quarter. Deutsche Bank AG now owns 7,158,142 shares of the company’s stock worth $835,284,000 after acquiring an additional 1,582,150 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Insider Transactions at Citigroup

In related news, Director John Cunningham Dugan sold 2,117 shares of the firm’s stock in a transaction 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 in the company, valued at $1,527,908.20. This trade represents a 14.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.11% of the stock is owned by company insiders.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup launched Citi Consolidate, an invoice-processing and payables solution integrated with Infor Nexus. The platform digitizes purchase orders, invoice approvals and payments for corporate clients, potentially strengthening Citi’s transaction-banking relationships and adding recurring fee revenue. Citi Is Now Live With a Trade Digitization Solution Integrating Supply Chain Solutions
• Positive Sentiment: Wall Street strategists identified large banks, including Citigroup, as overlooked beneficiaries of the AI investment cycle. Banks could gain from financing data-center construction, managing payments and providing capital-markets services, broadening Citi’s exposure beyond traditional lending. Wall Street Banks Eyed as Overlooked Beneficiaries of AI Trade
• Positive Sentiment: Analyst commentary remains supportive after Citi’s strong second-quarter performance. The bank’s record results, transformation plan and shareholder-return prospects are being cited as reasons the stock may still offer upside despite its recent rerating. Is Citigroup Stock Still a Buy After Its Blockbuster Q2 Performance?
• Neutral Sentiment: Citigroup expects the Federal Reserve to hold interest rates at its upcoming meeting, while assigning a 33% probability to a hike. A stable-rate outlook could support net interest income, but the possibility of tighter policy keeps investors focused on inflation and credit conditions. Citigroup Expects Fed to Maintain Rates Amid 33% Hike Probability
• Negative Sentiment: Broader concerns that massive AI spending may prove unsustainable represent a risk to banks positioned to finance the buildout. A pullback in AI investment could reduce loan demand, deal activity and market sentiment toward financial stocks. Singapore’s MAS Flags AI Pullback as Threat to Global Markets

Citigroup Stock Down 0.4%

NYSE:C opened at $132.53 on Wednesday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $226.04 billion, a price-to-earnings ratio of 14.31, a price-to-earnings-growth ratio of 0.60 and a beta of 1.11. Citigroup Inc. has a one year low of $87.94 and a one year high of $147.96. The stock has a 50-day simple moving average of $135.48 and a 200 day simple moving average of $123.98.

Citigroup (NYSE:C) last released its 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 company had revenue of $24.75 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted $1.96 EPS. Sell-side analysts predict that Citigroup Inc. will post 11.2 EPS for the current fiscal year.

Citigroup declared that its board 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 repurchase up to 13.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 3rd will be given a dividend of $0.67 per share. The ex-dividend date of this dividend 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 currently 25.92%.

Analyst Upgrades and Downgrades

C has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Citigroup from $135.50 to $149.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. The Goldman Sachs Group raised their price target on shares of Citigroup from $137.00 to $151.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. UBS Group lifted their price target on shares of Citigroup from $134.00 to $150.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 7th. Bank of America boosted their price objective on shares of Citigroup from $170.00 to $176.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Finally, Evercore set a $143.00 price target 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 issued a Hold rating to the stock. Based on data from MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and an average target price of $145.67.

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.