Mutual of America Capital Management LLC Cuts Position in Citigroup Inc. $C

Mutual of America Capital Management LLC decreased its position in Citigroup Inc. (NYSE:C) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 212,579 shares of the company’s stock after selling 8,226 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Citigroup were worth $24,806,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of C. Truist Financial Corp raised its position in Citigroup by 4.7% in the fourth quarter. Truist Financial Corp now owns 375,977 shares of the company’s stock worth $43,873,000 after acquiring an additional 16,744 shares in the last quarter. Gunderson Capital Management Inc. bought a new stake in Citigroup in the fourth quarter worth about $7,165,000. Kovitz Investment Group Partners LLC raised its position in Citigroup by 17.3% in the third quarter. Kovitz Investment Group Partners LLC now owns 663,416 shares of the company’s stock worth $67,337,000 after acquiring an additional 98,082 shares in the last quarter. Brighton Jones LLC raised its position in Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after acquiring an additional 12,499 shares in the last quarter. Finally, Adell Harriman & Carpenter Inc. raised its position in Citigroup by 12.7% in the third quarter. Adell Harriman & Carpenter Inc. now owns 102,255 shares of the company’s stock worth $10,379,000 after acquiring an additional 11,512 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. The Goldman Sachs Group boosted their price target on shares of Citigroup from $137.00 to $151.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. Keefe, Bruyette & Woods lifted their price target on Citigroup from $140.00 to $153.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Jefferies Financial Group assumed coverage on Citigroup in a research note on Thursday, March 26th. They issued a “buy” rating and a $135.00 price target on the stock. Wells Fargo & Company lifted their price target on Citigroup from $160.00 to $162.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Finally, Wall Street Zen raised Citigroup from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $137.62.

Citigroup Trading Up 2.4%

NYSE:C opened at $128.86 on Tuesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.99 and a quick ratio of 0.99. Citigroup Inc. has a fifty-two week low of $74.30 and a fifty-two week high of $135.29. The stock’s 50-day moving average is $123.27 and its two-hundred day moving average is $115.99. The stock has a market cap of $219.78 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 0.56 and a beta of 1.12.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 9.19% and a net margin of 9.35%.The firm’s revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.96 EPS. As a group, equities research analysts forecast that Citigroup Inc. will post 10.68 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Monday, May 4th. Citigroup’s payout ratio is currently 29.74%.

Citigroup declared that its Board of Directors has approved a share repurchase program on Thursday, May 7th that allows the company to buyback $30.00 billion in shares. This buyback authorization allows the company to repurchase up to 13.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other 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 transaction of $3,285,250.00. Following the completion of the sale, the insider directly owned 182,022 shares in the company, valued at $23,919,511.02. The trade was a 12.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $265,260.10. Following the completion of the sale, the director owned 12,194 shares of the company’s stock, valued at approximately $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. 0.11% of the stock is owned by insiders.

Key Headlines Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: OpenAI reportedly held talks with Citigroup for IPO preparations, highlighting Citi’s potential role in a major future underwriting mandate and supporting expectations for investment-banking revenue. OpenAI reportedly in talks to add Citigroup and JPMorgan to its IPO underwriting team
• Positive Sentiment: Citigroup’s bullish call on copper prices suggests confidence in industrial and AI-infrastructure demand, which can reinforce the market’s view that Citi has strong macro insight and research credibility. Citi turns bullish on copper, sees price hitting $15,000 per ton within a year
• Positive Sentiment: Citi’s forecast that tokenized securities could become a multi-trillion-dollar market supports the bank’s long-term growth narrative in digital assets and capital markets innovation. Citigroup Forecasts Tokenized Securities Market Will Hit $5.5 Trillion
• Neutral Sentiment: Commentary that Citigroup has outperformed the Dow over the past year, while analysts remain cautiously optimistic, reinforces a positive but already well-known sentiment backdrop rather than a new catalyst. Is Citigroup Stock Outperforming the Dow?

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.