Citigroup Inc. $C Stock Position Reduced by World Investment Advisors

World Investment Advisors cut its position in shares of Citigroup Inc. (NYSE:C) by 8.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 114,649 shares of the company’s stock after selling 10,882 shares during the quarter. World Investment Advisors’ holdings in Citigroup were worth $13,002,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Truist Financial Corp grew its holdings in shares of Citigroup by 4.7% during the fourth quarter. Truist Financial Corp now owns 375,977 shares of the company’s stock valued at $43,873,000 after purchasing an additional 16,744 shares during the last quarter. Gunderson Capital Management Inc. bought a new stake in shares of Citigroup in the 4th quarter worth approximately $7,165,000. Brighton Jones LLC lifted its holdings in shares of Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after purchasing an additional 12,499 shares during the last quarter. UniSuper Management Pty Ltd lifted its stake in Citigroup by 38.8% in the fourth quarter. UniSuper Management Pty Ltd now owns 1,306,851 shares of the company’s stock valued at $152,496,000 after buying an additional 365,041 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in shares of Citigroup by 11.8% during the fourth quarter. Nordea Investment Management AB now owns 7,986,407 shares of the company’s stock worth $933,891,000 after acquiring an additional 844,056 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup remains in focus heading into the next bank earnings cycle, with analysts noting that expectations for the financial sector have been steadily improving and that large banks like Citi will help kick off reporting later this month. This keeps attention on whether Citi can extend its recent earnings momentum. Article Title
• Positive Sentiment: Citigroup recently announced a leadership addition in wealth management, appointing Michael Yannell to lead hedge funds within its alternatives platform. The move suggests Citi is expanding higher-fee wealth offerings to meet client demand, which may support revenue growth. Article Title
• Neutral Sentiment: Citi also made news for trimming its bitcoin and ether price targets, reflecting a more cautious stance on crypto demand and delayed US regulation. This is more of a sentiment call on digital assets than a direct catalyst for Citigroup shares. Article Title
• Negative Sentiment: Citi warned that oil could slump to $60 a barrel as Middle East supply fears fade, which reinforces a more bearish macro view from the bank’s research team. While not directly tied to Citi’s core earnings, the call can weigh on market sentiment around its commodity and trading outlook. Article Title

Citigroup Stock Down 0.0%

C stock opened at $139.93 on Friday. Citigroup Inc. has a 52 week low of $85.48 and a 52 week high of $147.96. The company has a market capitalization of $238.67 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 0.60 and a beta of 1.11. The firm’s 50-day moving average is $132.49 and its two-hundred day moving average is $121.88. 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 (NYSE:C) last issued its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $22.96 billion. During the same period last year, the firm earned $1.96 EPS. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, analysts forecast that Citigroup Inc. will post 10.83 earnings per share for the current fiscal year.

Citigroup announced that its board has initiated a share buyback plan on Thursday, May 7th that permits the company to buyback $30.00 billion in outstanding shares. This buyback authorization permits 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 board of directors believes its shares are undervalued.

Insider Activity

In related news, Director John Cunningham Dugan sold 2,117 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $125.30, for a total transaction of $265,260.10. Following the completion of the sale, the director directly owned 12,194 shares in the company, valued at approximately $1,527,908.20. This trade represents a 14.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 sale, the insider directly owned 182,022 shares of the company’s stock, valued at approximately $23,919,511.02. This represents a 12.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.11% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on C shares. Royal Bank Of Canada restated an “outperform” rating and issued a $139.00 target price on shares of Citigroup in a research report on Wednesday, April 15th. Wall Street Zen upgraded Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Piper Sandler reissued an “overweight” rating and issued a $145.00 price objective (up from $125.00) on shares of Citigroup in a report on Wednesday, April 15th. Oppenheimer cut Citigroup from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Finally, Evercore set a $139.00 target price on Citigroup in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $139.62.

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.