Canada Post Corp Registered Pension Plan Buys 12,986 Shares of Citigroup Inc. $C

Canada Post Corp Registered Pension Plan boosted its position in Citigroup Inc. (NYSE:C) by 20.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,530 shares of the company’s stock after buying an additional 12,986 shares during the period. Canada Post Corp Registered Pension Plan’s holdings in Citigroup were worth $9,047,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Richards Merrill & Peterson Inc. acquired a new position in shares of Citigroup during the fourth quarter worth approximately $28,000. Wolff Wiese Magana LLC raised its holdings in Citigroup by 87.6% during the third quarter. Wolff Wiese Magana LLC now owns 257 shares of the company’s stock worth $26,000 after buying an additional 120 shares during the last quarter. Luken Investment Analytics LLC acquired a new position in shares of Citigroup during the fourth quarter valued at about $32,000. Maseco LLP bought a new stake in shares of Citigroup during the fourth quarter worth about $35,000. Finally, MH & Associates Securities Management Corp ADV bought a new position in Citigroup in the 4th quarter valued at about $35,000. Institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on C. Truist Financial set a $147.00 price objective on Citigroup in a report on Friday, May 1st. Zacks Research cut Citigroup from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Keefe, Bruyette & Woods increased their target price on shares of Citigroup from $140.00 to $153.00 and gave the company an “outperform” rating in a report on Friday, May 8th. JPMorgan Chase & Co. boosted their price target on shares of Citigroup from $131.00 to $135.50 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Finally, Piper Sandler reissued an “overweight” rating and set a $145.00 target price (up from $125.00) on shares of Citigroup in a research report on Wednesday, April 15th. One equities research 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 MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $137.62.

Insider Buying and Selling

In other news, Director John Cunningham Dugan sold 2,117 shares of Citigroup stock in a transaction dated 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 owned 12,194 shares of the company’s stock, valued at $1,527,908.20. The trade was a 14.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Edward Skyler sold 25,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $23,919,511.02. The trade was a 12.08% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.11% of the stock is owned by company insiders.

Citigroup Trading Down 1.1%

NYSE:C opened at $123.39 on Friday. Citigroup Inc. has a 12 month low of $71.65 and a 12 month 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 company has a 50-day moving average price of $119.50 and a 200-day moving average price of $114.04. The stock has a market cap of $210.46 billion, a price-to-earnings ratio of 15.29, a P/E/G ratio of 0.55 and a beta of 1.14.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.63 by $0.43. The business 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 quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.96 earnings per share. Equities analysts predict that Citigroup Inc. will post 10.65 EPS for the current year.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Monday, May 4th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, May 4th. Citigroup’s payout ratio is currently 29.74%.

Citigroup declared that its Board of Directors has authorized a share repurchase program on Thursday, May 7th that permits the company to repurchase $30.00 billion in shares. This repurchase authorization permits the company to repurchase up to 13.7% of its stock through open market purchases. Stock repurchase programs are often 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: Citigroup plans to increase headcount in its Asia-Pacific prime brokerage business by about 10%, signaling confidence in rising hedge fund activity and an opportunity to capture more trading and financing revenue. Article: C to Expand Asia Prime Brokerage Team by 10%, Eyes Hedge Fund Growth
• Positive Sentiment: Separate reports suggest Citigroup is continuing to push its Asia expansion strategy, including potential licensing progress in China and a broader push to strengthen its regional investment-banking and markets presence. Article: Citigroup to Get License for Wholly Owned China Securities Firm as CEO Joins Trump Visit
• Positive Sentiment: Citigroup has also been highlighted in analysis for adopting AI in ways that may generate returns, reinforcing the view that the bank’s technology investments could help support efficiency and profitability. Article: Citigroup: Not Only Adopting AI But Also Generating Returns
• Neutral Sentiment: Bloomberg reported that Citi said African borrowers are becoming more creative in debt sales, which is informative on market conditions but does not clearly change the near-term earnings picture. Article: Citi Says African Borrowers Are Turning Creative on Debt Sales
• Negative Sentiment: Some investors remain focused on whether Citigroup can sustain its post-earnings momentum, with recent commentary noting the stock has already pulled back from the strong rally seen after its latest quarterly results. Article: After a 63.3% Surge in a Year, Is C Stock Worth Holding on to Now?

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.