Tredje AP fonden Acquires 200,000 Shares of Citigroup Inc. $C

Tredje AP fonden increased its holdings in Citigroup Inc. (NYSE:C) by 91.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 417,559 shares of the company’s stock after purchasing an additional 200,000 shares during the period. Tredje AP fonden’s holdings in Citigroup were worth $48,725,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of C. Donaldson Capital Management LLC acquired a new position in Citigroup during the third quarter valued at approximately $58,994,000. Kovitz Investment Group Partners LLC grew its holdings in Citigroup by 17.3% during the third quarter. Kovitz Investment Group Partners LLC now owns 663,416 shares of the company’s stock valued at $67,337,000 after purchasing an additional 98,082 shares during the last quarter. Gunderson Capital Management Inc. acquired a new position in Citigroup during the fourth quarter valued at approximately $7,165,000. Brighton Jones LLC grew its holdings in Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after purchasing an additional 12,499 shares during the last quarter. Finally, Adell Harriman & Carpenter Inc. grew its holdings in Citigroup by 12.7% during the third quarter. Adell Harriman & Carpenter Inc. now owns 102,255 shares of the company’s stock valued at $10,379,000 after purchasing an additional 11,512 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Zacks Research downgraded Citigroup from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Citigroup in a report on Monday, April 20th. Royal Bank Of Canada reissued an “outperform” rating and issued a $139.00 price objective on shares of Citigroup in a research report on Wednesday, April 15th. Wall Street Zen raised Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Jefferies Financial Group started coverage on Citigroup in a research report on Thursday, March 26th. They issued a “buy” rating and a $135.00 price objective for the company. One investment 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, Citigroup presently has a consensus rating of “Moderate Buy” and an average target price of $137.62.

Insider Buying and Selling 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 value of $265,260.10. Following the completion of the transaction, the director directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Edward Skyler sold 25,000 shares of the firm’s stock in a transaction on Wednesday, April 15th. The stock was 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 of the company’s stock, valued at approximately $23,919,511.02. This trade represents a 12.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.11% of the stock is owned by company insiders.

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup and BlackRock’s HPS announced a €15 billion private capital program to expand direct lending in EMEA, giving Citi another way to grow fee income and deepen its lending franchise. Citigroup and HPS Investment Partners, a part of BlackRock, Announce €15 Billion Private Capital Program to Expand Direct Lending in EMEA
• Positive Sentiment: Citigroup neared final approval for a wholly owned securities firm in China, which would let it directly offer investment banking and brokerage services onshore instead of relying on joint ventures. Citigroup Nears Final Approval for Wholly-Owned China Securities Firm
• Positive Sentiment: Investor sentiment was also helped by a Goldman Sachs Buy rating and $149 price target, with analysts pointing to a cleaner path to improved profitability and higher returns. Citigroup (C) Among the Best Value Stocks to Buy for Long Term Investment
• Neutral Sentiment: Broader financial stocks were higher on Monday afternoon, with the NYSE Financial Index up 1%, providing a mild sector tailwind for Citi. Sector Update: Financial Stocks Higher Monday Afternoon

Citigroup Stock Down 0.9%

C opened at $122.34 on Tuesday. Citigroup Inc. has a 1-year low of $71.65 and a 1-year high of $135.29. 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 capitalization of $208.66 billion, a price-to-earnings ratio of 15.16, a P/E/G ratio of 0.55 and a beta of 1.14. The business has a 50 day moving average of $119.77 and a 200-day moving average of $114.28.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.43. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The company had revenue of $24.63 billion during the quarter, compared to analysts’ expectations of $22.96 billion. During the same period in the prior year, the business earned $1.96 earnings per share. Citigroup’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Citigroup Inc. will post 10.65 earnings per share for the current year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, May 4th. Citigroup’s dividend payout ratio (DPR) is 29.74%.

Citigroup declared that its Board of Directors has approved a stock repurchase program on Thursday, May 7th that permits the company to repurchase $30.00 billion in shares. This repurchase authorization permits the company to purchase up to 13.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

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.