Manning & Napier Advisors LLC Has $17.59 Million Holdings in Citigroup Inc. $C

Manning & Napier Advisors LLC trimmed its holdings in shares of Citigroup Inc. (NYSE:C) by 3.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 155,134 shares of the company’s stock after selling 5,020 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Citigroup were worth $17,594,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of C. Mcguire Capital Advisors Inc. acquired a new stake in shares of Citigroup in the fourth quarter valued at approximately $25,000. Whipplewood Advisors LLC bought a new position in Citigroup during the 1st quarter worth $25,000. Richards Merrill & Peterson Inc. bought a new position in Citigroup during the 4th quarter worth $28,000. TD Capital Management LLC acquired a new position in Citigroup in the 4th quarter valued at $28,000. Finally, Luken Investment Analytics LLC acquired a new position in Citigroup in the 4th quarter valued at $32,000. Institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on C shares. UBS Group increased their target price on Citigroup from $134.00 to $150.00 and gave the stock a “neutral” rating in a report on Tuesday. Wall Street Zen raised shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Truist Financial increased their price objective on shares of Citigroup from $147.00 to $158.00 and gave the stock a “buy” rating in a research note on Friday, June 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Citigroup in a report on Monday, April 20th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $139.00 price target on shares of Citigroup in a research report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.00.

Insider Activity 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 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Edward Skyler sold 25,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider owned 182,022 shares of the company’s stock, valued at approximately $23,919,511.02. This trade represents a 12.08% decrease in their position. The SEC filing for this sale provides additional information. 0.11% of the stock is owned by corporate insiders.

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi is expected to collect about $70 million in fees from the SK Hynix listing, underscoring strength in its capital markets and advisory franchise. Article Title
• Positive Sentiment: Multiple pieces this week describe Citigroup (C) as one of the stronger large-bank names ahead of earnings, supported by resilient trading activity, investment banking momentum, and loan demand. Article Title
• Positive Sentiment: Analyst commentary and TV mentions have also kept Citi in the spotlight as a favored bank stock, suggesting continued institutional confidence in the name. Article Title
• Positive Sentiment: Earlier coverage said Citi’s Q1 results were the strongest among diversified banks, reinforcing the view that the company is executing well relative to peers. Article Title
• Neutral Sentiment: Citi also announced that SCB is now live with its 24/7 USD Clearing and Citi Token Services, a constructive step in digital payments infrastructure, but not a near-term earnings driver. Article Title

Citigroup Price Performance

Citigroup stock traded up $1.10 during midday trading on Friday, reaching $140.67. The company’s stock had a trading volume of 10,510,425 shares, compared to its average volume of 12,496,730. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. The stock has a market cap of $239.92 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 0.65 and a beta of 1.11. Citigroup Inc. has a 52 week low of $85.61 and a 52 week high of $147.96. The business has a 50-day moving average price of $133.71 and a 200-day moving average price of $122.85.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.63 by $0.43. The company had revenue of $24.63 billion for the quarter, compared to the consensus estimate of $22.96 billion. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period last year, the company posted $1.96 EPS. On average, sell-side analysts predict that Citigroup Inc. will post 10.89 EPS for the current year.

Citigroup announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 7th that allows the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 13.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.