Geode Capital Management LLC Buys 189,548 Shares of Citigroup Inc. $C

Geode Capital Management LLC lifted its holdings in Citigroup Inc. (NYSE:C) by 0.4% in the fourth quarter, HoldingsChannel reports. The fund owned 43,252,372 shares of the company’s stock after buying an additional 189,548 shares during the period. Geode Capital Management LLC’s holdings in Citigroup were worth $5,036,712,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Fidelis Capital Partners LLC lifted its holdings in shares of Citigroup by 8.0% in the 4th quarter. Fidelis Capital Partners LLC now owns 12,286 shares of the company’s stock worth $1,434,000 after acquiring an additional 906 shares during the last quarter. Knights of Columbus Asset Advisors LLC lifted its holdings in shares of Citigroup by 3.8% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 92,984 shares of the company’s stock worth $10,850,000 after acquiring an additional 3,367 shares during the last quarter. Key Financial Inc lifted its holdings in shares of Citigroup by 2.7% in the 4th quarter. Key Financial Inc now owns 3,972 shares of the company’s stock worth $463,000 after acquiring an additional 104 shares during the last quarter. Syverson Strege & Co lifted its holdings in shares of Citigroup by 1.5% in the 4th quarter. Syverson Strege & Co now owns 7,846 shares of the company’s stock worth $916,000 after acquiring an additional 115 shares during the last quarter. Finally, Roundview Capital LLC bought a new stake in shares of Citigroup in the 4th quarter worth approximately $201,000. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Down 1.2%

Shares of NYSE C opened at $125.31 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. Citigroup Inc. has a 12 month low of $74.30 and a 12 month high of $135.29. The firm has a market capitalization of $213.72 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 0.57 and a beta of 1.14. The firm has a fifty day simple moving average of $122.21 and a two-hundred day simple moving average of $115.45.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, topping the consensus estimate of $2.63 by $0.43. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The business had revenue of $24.63 billion during the quarter, compared to analyst estimates of $22.96 billion. During the same period in the prior year, the business earned $1.96 EPS. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities analysts expect that Citigroup Inc. will post 10.68 earnings per share for the current year.

Citigroup Announces Dividend

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

Citigroup declared that its Board of Directors has initiated a stock buyback program 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 stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Recent coverage highlights Citigroup’s ongoing turnaround under CEO Jane Fraser, with the bank posting decade-high revenue, cutting costs through layoffs and market exits, and restoring investor confidence. Citi’s 5-year comeback: How CEO Jane Fraser turned the bank’s chronic underperformance into decade-high revenue
• Positive Sentiment: Another report says Citigroup’s recent funding activity, living-will approval, and expansion in Asian wealth and private credit suggest a healthier business mix and cleaner regulatory profile. How New Funding, Living Will Approval, and Asian Wealth Push At Citigroup (C) Has Changed Its Investment Story
• Neutral Sentiment: Wall Street commentary also remained constructive, with brokers continuing to view Citigroup as a stock worth owning, though the article was more about analyst-process than a new rating change. Brokers Suggest Investing in Citigroup (C): Read This Before Placing a Bet
• Neutral Sentiment: Citigroup’s stock also moved in line with a broader macro backdrop, as Fed commentary kept rate expectations in focus; that tends to affect bank stocks because it influences net interest income outlooks. Fed’s Cook says she is prepared to raise rates if inflation doesn’t ease

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on C shares. Evercore set a $139.00 price objective on shares of Citigroup in a report on Wednesday, April 15th. Royal Bank Of Canada reiterated an “outperform” rating and set a $139.00 price target on shares of Citigroup in a report on Wednesday, April 15th. Wells Fargo & Company upped their price target on shares of Citigroup from $160.00 to $162.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Barclays upped their price target on shares of Citigroup from $146.00 to $154.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Finally, Zacks Research lowered shares of Citigroup from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $137.62.

Insider Buying and Selling at Citigroup

In other Citigroup news, insider Edward Skyler sold 25,000 shares of the company’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $131.41, for a total value of $3,285,250.00. Following the completion of the transaction, the insider directly owned 182,022 shares in the company, valued at approximately $23,919,511.02. This represents a 12.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Cunningham Dugan sold 2,117 shares of the company’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 completion of the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. 0.11% of the stock is currently owned by corporate insiders.

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.