Erste Asset Management GmbH Has $28.11 Million Stock Holdings in Citigroup Inc. $C

Erste Asset Management GmbH trimmed its position in Citigroup Inc. (NYSE:C) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 237,939 shares of the company’s stock after selling 5,689 shares during the period. Erste Asset Management GmbH’s holdings in Citigroup were worth $28,109,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Richards Merrill & Peterson Inc. acquired a new stake in shares of Citigroup in the 4th quarter valued at approximately $28,000. Luken Investment Analytics LLC acquired a new stake in shares of Citigroup in the 4th quarter valued at approximately $32,000. High Note Wealth LLC raised its position in shares of Citigroup by 107.7% in the 4th quarter. High Note Wealth LLC now owns 270 shares of the company’s stock valued at $32,000 after acquiring an additional 140 shares during the period. Entrust Financial LLC acquired a new stake in shares of Citigroup in the 4th quarter valued at approximately $34,000. Finally, Maseco LLP acquired a new stake in shares of Citigroup in the 4th quarter valued at approximately $35,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

C has been the topic of a number of analyst reports. Jefferies Financial Group initiated coverage on shares of Citigroup in a research report on Thursday, March 26th. They issued a “buy” rating and a $135.00 price target on the stock. JPMorgan Chase & Co. increased their price target on shares of Citigroup from $131.00 to $135.50 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Barclays increased their price target on shares of Citigroup from $146.00 to $154.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Truist Financial set a $147.00 target price on shares of Citigroup in a report on Friday, May 1st. Finally, Wells Fargo & Company raised their target price on shares of Citigroup from $160.00 to $162.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $137.62.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup reshuffled senior leadership, naming Margo Pilic head of strategy, M&A, and investor relations, a move that could improve execution and simplify decision-making as CEO Jane Fraser continues the bank’s transformation. Citigroup Reshapes Leadership As It Pushes Into Tokenized Deposits
• Positive Sentiment: The bank is joining JPMorgan Chase, Bank of America, and other large lenders on a blockchain-based tokenized deposit network, signaling that Citi wants to stay competitive in next-generation payments and possibly benefit from lower-friction transaction infrastructure. JPMorgan, Citi and Big Banks Plan New Tokenized Deposit System to Answer Crypto
• Positive Sentiment: Investors are also responding to Citi’s growing use of AI in operations, including a document-review system that cuts account-opening review time from about an hour to 15 minutes, which may point to better efficiency and cost savings over time. Citi Used AI to Shrink a 60-Minute Document Review to 15 Minutes
• Neutral Sentiment: Citi also announced redemptions of $3.15 billion of notes due in 2027, a routine balance-sheet management move that does not appear to be a major catalyst on its own. Citigroup Announces $2.75 Billion Redemption…
• Neutral Sentiment: Several headlines about Citi’s stock becoming overextended and the broader market looking “frothy” may temper enthusiasm, but they read more like caution flags than direct negatives for the company’s fundamentals. The stock market is at its frothiest…

Insiders Place Their Bets

In other news, insider Edward Skyler sold 25,000 shares of Citigroup stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $131.41, for a total transaction of $3,285,250.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Cunningham Dugan sold 2,117 shares of Citigroup 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 sale, the director directly owned 12,194 shares of the company’s stock, valued at $1,527,908.20. This represents a 14.79% decrease in their position. The SEC filing for this sale provides additional information. 0.11% of the stock is currently owned by company insiders.

Citigroup Price Performance

NYSE:C opened at $132.62 on Monday. Citigroup Inc. has a 1-year low of $76.11 and a 1-year high of $135.83. 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 firm has a fifty day simple moving average of $124.87 and a 200 day simple moving average of $116.89. The stock has a market capitalization of $226.19 billion, a PE ratio of 16.43, a P/E/G ratio of 0.59 and a beta of 1.12.

Citigroup (NYSE:C) last released its earnings results 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 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 analysts’ expectations of $22.96 billion. During the same period last year, the business earned $1.96 earnings per share. The firm’s revenue was up 14.1% on a year-over-year basis. On average, research analysts expect that Citigroup Inc. will post 10.68 EPS for the current fiscal year.

Citigroup Dividend Announcement

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

Citigroup declared that its board has approved a share buyback plan on Thursday, May 7th that authorizes the company to repurchase $30.00 billion in shares. This repurchase authorization authorizes the company to buy up to 13.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership 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.