Nykredit A S Makes New $458.27 Million Investment in Citigroup Inc. $C

Nykredit A S purchased a new stake in Citigroup Inc. (NYSE:C) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,274,327 shares of the company’s stock, valued at approximately $458,275,000. Citigroup accounts for approximately 1.5% of Nykredit A S’s portfolio, making the stock its 10th biggest position. Nykredit A S owned approximately 0.19% of Citigroup as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of C. Norges Bank bought a new stake in shares of Citigroup in the fourth quarter worth $2,800,944,000. Bank of New York Mellon Corp bought a new position in Citigroup during the 2nd quarter worth $3,244,602,000. Eurizon Capital SGR S.p.A. acquired a new position in Citigroup during the 4th quarter worth about $298,082,000. SEB Asset Management AB acquired a new position in Citigroup during the 1st quarter worth about $252,972,000. Finally, OMERS ADMINISTRATION Corp grew its position in shares of Citigroup by 1,137.1% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 1,840,374 shares of the company’s stock valued at $257,579,000 after buying an additional 1,691,611 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

C has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on Citigroup from $135.50 to $149.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Keefe, Bruyette & Woods lifted their price objective on Citigroup from $140.00 to $153.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. UBS Group reduced their target price on Citigroup from $150.00 to $142.00 and set a “neutral” rating on the stock in a report on Monday, August 3rd. Oppenheimer downgraded shares of Citigroup from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Finally, Morgan Stanley raised their price target on shares of Citigroup from $154.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Two investment 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $145.22.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Institutional payments technology milestone: Citi said its Services business completed live transactions on Swift’s blockchain-based ledger with First Abu Dhabi Bank and OCBC. The initiative supports always-on, cross-currency payments and strengthens Citi’s positioning in digital infrastructure for global institutional clients. Citi’s Services Business Pioneers Live Transactions on Swift’s Ledger
• Positive Sentiment: Favorable bank-sector rotation: Investors are moving into major banks on expectations that rising rates could support lending returns and net interest income. Citi may also benefit from reduced investor concern about artificial-intelligence disruption compared with technology-heavy sectors. Expectations of Rising Rates and Worries About AI Have Investors Piling Into Big Bank Stocks
• Positive Sentiment: Potential cost savings from AI: Citi is using artificial intelligence to review and negotiate outside law-firm billing, potentially lowering legal expenses across capital-markets, compliance and banking operations. Citigroup Uses AI to Push Law Firms on Fees
• Positive Sentiment: Analyst backdrop remains supportive: Citi has outperformed the broader financial sector over the past year, while analysts are described as moderately optimistic. The company also recently reported quarterly EPS of $3.15 versus the $2.74 consensus and revenue of $24.77 billion versus expectations of $23.74 billion. Citigroup Stock: Is C Outperforming the Financial Sector?
• Neutral Sentiment: Regulatory overhang: The U.K. fined Citigroup £4.7 million for breaches related to Russia sanctions. The financial penalty is modest relative to Citi’s size, but the issue highlights ongoing compliance and control risks. Citigroup Fined £4.7 Million in UK for Russia Sanctions Breaches

Citigroup Trading Up 1.4%

NYSE C opened at $134.38 on Thursday. The stock has a market capitalization of $229.20 billion, a P/E ratio of 14.51, a P/E/G ratio of 0.60 and a beta of 1.12. The business has a 50 day simple moving average of $135.47 and a 200 day simple moving average of $127.16. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.99 and a quick ratio of 0.99. Citigroup Inc. has a one year low of $93.40 and a one year high of $147.96.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.74 by $0.41. The firm had revenue of $24.77 billion for the quarter, compared to analyst estimates of $23.74 billion. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The company’s revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.96 earnings per share. Research analysts expect that Citigroup Inc. will post 11.21 earnings per share for the current year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 3rd were paid a dividend of $0.67 per share. This is a boost from Citigroup’s previous quarterly dividend of $0.60. This represents a $2.68 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Monday, August 3rd. Citigroup’s payout ratio is currently 28.94%.

Citigroup declared that its Board of Directors has authorized a stock repurchase plan on Thursday, May 7th that authorizes the company to buyback $30.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 13.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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.