Citigroup Inc. $C Shares Sold by Hilltop Holdings Inc.

Hilltop Holdings Inc. cut its stake in shares of Citigroup Inc. (NYSE:C) by 58.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,878 shares of the company’s stock after selling 9,690 shares during the quarter. Hilltop Holdings Inc.’s holdings in Citigroup were worth $780,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in Citigroup in the 4th quarter worth approximately $2,800,944,000. Vanguard Group Inc. increased its holdings in Citigroup by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company’s stock valued at $19,048,467,000 after buying an additional 4,938,923 shares in the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in shares of Citigroup in the 4th quarter valued at about $298,082,000. SEB Asset Management AB purchased a new stake in shares of Citigroup in the first quarter valued at approximately $252,972,000. Finally, Deutsche Bank AG raised its position in Citigroup by 28.4% during the fourth quarter. Deutsche Bank AG now owns 7,158,142 shares of the company’s stock worth $835,284,000 after acquiring an additional 1,582,150 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi analysts said the recent pullback in semiconductor stocks looks like a buying opportunity, which may support broader risk appetite and help sentiment around markets that Citigroup covers through its trading and research franchises. Pullback in chip stocks is a buying opportunity, Citi says
• Positive Sentiment: Citigroup was highlighted in a new CMBS deal update, after pricing an $817 million multifamily conduit transaction, reinforcing Citi’s role as an active lender and securitization player in U.S. commercial real estate. Citigroup (C) Sets Post GFC Record With $817 Million Multifamily CMBS Deal
• Neutral Sentiment: Citigroup reportedly closed a bullish South African rand trade after the currency looked “fragile” following South Africa’s surprise rate hold. This is more of a trading update than a major earnings driver, but it shows Citi is actively adjusting macro positions. Citi Drops Rand Bet After South Africa’s Surprise Rate Hold
• Neutral Sentiment: Separately, a headline noting Citi’s bearish view on the “Magnificent Seven” may reflect the bank’s broader market outlook, but it does not directly change Citigroup’s fundamentals. Wall Street Bank Just Declared the Magnificent 7 as “Dead” — What Happens Next?

Insider Transactions at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 2,117 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $125.30, for a total transaction of $265,260.10. Following the transaction, the director owned 12,194 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is owned by corporate insiders.

Citigroup Price Performance

Shares of NYSE C opened at $131.95 on Monday. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $225.06 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 0.60 and a beta of 1.11. The stock’s 50-day moving average is $135.01 and its two-hundred day moving average is $123.83. Citigroup Inc. has a 1-year low of $87.94 and a 1-year high of $147.96.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, July 14th. The company reported $3.15 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.41. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The business had revenue of $24.75 billion during the quarter, compared to the consensus estimate of $23.74 billion. During the same period in the previous year, the company posted $1.96 earnings per share. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. Analysts forecast that Citigroup Inc. will post 11.2 EPS for the current fiscal year.

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

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Monday, August 3rd will be paid a $0.67 dividend. This is a boost from Citigroup’s previous quarterly dividend of $0.60. This represents a $2.68 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, August 3rd. Citigroup’s payout ratio is currently 25.92%.

Analyst Ratings Changes

A number of equities analysts have commented on C shares. Barclays increased their target price on Citigroup from $146.00 to $154.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Piper Sandler reaffirmed an “overweight” rating and set a $145.00 target price (up from $125.00) on shares of Citigroup in a research note on Wednesday, April 15th. Oppenheimer lowered Citigroup from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. The Goldman Sachs Group upped their price objective on shares of Citigroup from $137.00 to $151.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Finally, Bank of America increased their target price on Citigroup from $170.00 to $176.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $145.67.

Citigroup 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.