Teachers Retirement System of The State of Kentucky Cuts Holdings in Citigroup Inc. $C

Teachers Retirement System of The State of Kentucky decreased its holdings in Citigroup Inc. (NYSE:C) by 9.8% in the first quarter, Holdings Channel reports. The firm owned 348,354 shares of the company’s stock after selling 37,700 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Citigroup were worth $39,507,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Truist Financial Corp increased its position in 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 acquiring an additional 16,744 shares during the last quarter. Gunderson Capital Management Inc. purchased a new position in Citigroup in the fourth quarter worth about $7,165,000. Brighton Jones LLC grew its stake in shares of Citigroup by 166.9% during the 4th 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 period. UniSuper Management Pty Ltd grew its stake in shares of Citigroup by 38.8% during the 4th quarter. UniSuper Management Pty Ltd now owns 1,306,851 shares of the company’s stock valued at $152,496,000 after purchasing an additional 365,041 shares during the period. Finally, Nordea Investment Management AB increased its position in shares of Citigroup by 11.8% during the 4th quarter. Nordea Investment Management AB now owns 7,986,407 shares of the company’s stock valued at $933,891,000 after purchasing an additional 844,056 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Down 0.1%

NYSE C opened at $140.67 on Monday. Citigroup Inc. has a 52 week low of $85.61 and a 52 week high of $147.96. 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 market capitalization of $239.92 billion, a P/E ratio of 17.43, a price-to-earnings-growth ratio of 0.66 and a beta of 1.11. The stock’s 50-day moving average price is $133.71 and its 200-day moving average price is $122.88.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.63 by $0.43. The company had revenue of $24.63 billion during the quarter, compared to the consensus estimate of $22.96 billion. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The firm’s revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.96 EPS. On average, equities research analysts predict that Citigroup Inc. will post 10.89 earnings per share for the current year.

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

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi is expected to collect about $70 million in fees from the SK Hynix listing, underscoring strength in its capital markets and advisory franchise. Article Title
• Positive Sentiment: Multiple pieces this week describe Citigroup (C) as one of the stronger large-bank names ahead of earnings, supported by resilient trading activity, investment banking momentum, and loan demand. Article Title
• Positive Sentiment: Analyst commentary and TV mentions have also kept Citi in the spotlight as a favored bank stock, suggesting continued institutional confidence in the name. Article Title
• Positive Sentiment: Earlier coverage said Citi’s Q1 results were the strongest among diversified banks, reinforcing the view that the company is executing well relative to peers. Article Title
• Neutral Sentiment: Citi also announced that SCB is now live with its 24/7 USD Clearing and Citi Token Services, a constructive step in digital payments infrastructure, but not a near-term earnings driver. Article Title

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on C shares. Jefferies Financial Group started coverage on shares of Citigroup in a research note on Thursday, March 26th. They issued a “buy” rating and a $135.00 price objective on the stock. Bank of America boosted their target price on shares of Citigroup from $170.00 to $176.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Truist Financial upped their target price on shares of Citigroup from $147.00 to $158.00 and gave the company a “buy” rating in a report on Friday, June 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Citigroup in a research note on Monday, April 20th. Finally, Wells Fargo & Company boosted their price objective on shares of Citigroup from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $145.00.

Insider Activity at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 2,117 shares of the company’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 value of $265,260.10. Following the completion of the transaction, the director directly owned 12,194 shares in the company, valued at $1,527,908.20. This represents a 14.79% decrease in their ownership of the stock. The transaction 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 company’s stock in a transaction that occurred 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 transaction, the insider owned 182,022 shares of the company’s stock, valued at approximately $23,919,511.02. The trade was 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 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.