Prudential PLC Sells 18,824 Shares of Citigroup Inc. $C

Prudential PLC trimmed its holdings in shares of Citigroup Inc. (NYSE:C) by 8.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,567 shares of the company’s stock after selling 18,824 shares during the period. Prudential PLC’s holdings in Citigroup were worth $24,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Verus Capital Partners LLC grew its holdings in Citigroup by 3.1% during the 4th quarter. Verus Capital Partners LLC now owns 2,748 shares of the company’s stock worth $321,000 after acquiring an additional 82 shares in the last quarter. Elmwood Wealth Management Inc. boosted its holdings in shares of Citigroup by 1.3% in the 4th quarter. Elmwood Wealth Management Inc. now owns 6,845 shares of the company’s stock valued at $799,000 after buying an additional 85 shares in the last quarter. Park Place Capital Corp boosted its holdings in shares of Citigroup by 16.7% in the 4th quarter. Park Place Capital Corp now owns 595 shares of the company’s stock valued at $69,000 after buying an additional 85 shares in the last quarter. D.B. Root & Company LLC boosted its holdings in shares of Citigroup by 2.8% in the 4th quarter. D.B. Root & Company LLC now owns 3,191 shares of the company’s stock valued at $372,000 after buying an additional 87 shares in the last quarter. Finally, Cornerstone Wealth Management LLC boosted its holdings in shares of Citigroup by 0.8% in the 4th quarter. Cornerstone Wealth Management LLC now owns 10,393 shares of the company’s stock valued at $1,213,000 after buying an additional 87 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Insider Activity at Citigroup

In related news, Director John Cunningham Dugan sold 2,117 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Edward Skyler sold 25,000 shares of the 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 directly owned 182,022 shares of the company’s stock, valued at $23,919,511.02. The trade was a 12.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.11% of the company’s stock.

Citigroup Stock Performance

Shares of Citigroup stock opened at $135.01 on Friday. The firm has a market capitalization of $230.27 billion, a P/E ratio of 16.73, a PEG ratio of 0.58 and a beta of 1.12. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.59. The company has a 50 day moving average price of $124.50 and a 200 day moving average price of $116.64. Citigroup Inc. has a 52 week low of $75.66 and a 52 week high of $135.67.

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

Citigroup declared that its board has initiated 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 purchase up to 13.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, May 4th. Citigroup’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Citigroup in a report on Thursday, March 26th. They issued a “buy” rating and a $135.00 price target on the stock. The Goldman Sachs Group raised their price target on shares of Citigroup from $137.00 to $151.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Barclays raised 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. JPMorgan Chase & Co. raised their price target on shares of Citigroup from $131.00 to $135.50 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, Morgan Stanley raised their price target on shares of Citigroup from $140.00 to $144.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $137.62.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup is reportedly part of a new tokenized deposit system being developed with JPMorgan and other major banks, a move that could help Citi compete with stablecoins and crypto-native firms while opening a new digital-payments growth avenue.
• Positive Sentiment: Citi said its AI document-processing system cut account-opening review time from 60 minutes to 15 minutes, signaling a meaningful productivity gain and a path to lower operating costs.
• Positive Sentiment: Citigroup was also mentioned as a possible bank for OpenAI’s upcoming IPO, which could bolster fee income and reinforce Citi’s role in high-profile capital markets deals.
• Positive Sentiment: Investor sentiment is further supported by Citi’s recent strong results, with quarterly EPS and revenue both beating estimates, and by analyst commentary pointing to a constructive technical setup for the stock.
• Neutral Sentiment: Citi announced redemptions of $3.15 billion in 2027-due notes. This is a routine balance-sheet action and does not appear to be a major surprise, but it may reflect ongoing capital management discipline.
• Neutral Sentiment: Several headlines focused on Citi’s broader research coverage of other companies and portfolio moves by Citi entities, but these appear to be more about the bank’s market presence than a direct driver of Citigroup’s stock.

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.