Fideuram Intesa Sanpaolo Private Banking S.P.A. Takes Position in Citigroup Inc. $C

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Citigroup Inc. (NYSE:C) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 237,057 shares of the company’s stock, valued at approximately $27,662,000. Citigroup comprises 1.0% of Fideuram Intesa Sanpaolo Private Banking S.P.A.’s investment portfolio, making the stock its 19th biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Citigroup by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company’s stock worth $19,048,467,000 after purchasing an additional 4,938,923 shares during the period. Bank of New York Mellon Corp lifted its stake in Citigroup by 17.6% during the third quarter. Bank of New York Mellon Corp now owns 28,125,995 shares of the company’s stock worth $2,854,788,000 after purchasing an additional 4,211,099 shares during the period. Capital World Investors lifted its stake in Citigroup by 6.5% during the third quarter. Capital World Investors now owns 47,262,626 shares of the company’s stock worth $4,797,292,000 after purchasing an additional 2,871,074 shares during the period. Bessemer Group Inc. lifted its stake in Citigroup by 6,172.0% during the third quarter. Bessemer Group Inc. now owns 2,904,795 shares of the company’s stock worth $294,838,000 after purchasing an additional 2,858,481 shares during the period. Finally, SG Americas Securities LLC lifted its stake in Citigroup by 291.4% during the fourth quarter. SG Americas Securities LLC now owns 1,319,549 shares of the company’s stock worth $153,978,000 after purchasing an additional 2,008,946 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup launched a €15 billion private capital program with BlackRock’s HPS to expand direct lending across EMEA, a move that could strengthen fee-based revenue and deepen its presence in private credit. Article Title
• Positive Sentiment: Citi reported better April card delinquency and charge-off trends year over year, suggesting some improvement in consumer credit quality. Article Title
• Positive Sentiment: Citi received final approval to launch a wholly foreign-owned securities firm in mainland China, expanding its ability to offer investment banking and brokerage services directly in a major market. Article Title
• Positive Sentiment: Citigroup hired former UK lawmaker Chuka Umunna as managing director in its UK investment banking division, a small but notable talent win that may support its EMEA franchise. Article Title
• Neutral Sentiment: Citi’s call that 30-year Treasury yields may next focus on 5.5% reflects its macro view, but it is not a direct operating driver for the bank. Article Title
• Negative Sentiment: CFRA reportedly downgraded Citigroup to Hold, which may be tempering enthusiasm after a strong run in the shares. Article Title

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on C. Wall Street Zen upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Morgan Stanley lifted their target price on shares of Citigroup from $140.00 to $144.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Citigroup in a research note on Monday, April 20th. Piper Sandler reiterated an “overweight” rating and issued a $145.00 target price (up from $125.00) on shares of Citigroup in a research note on Wednesday, April 15th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $145.00 target price on shares of Citigroup in a research note on Friday, May 8th. One 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. Based on data from MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and an average price target of $137.62.

Insider Activity at Citigroup

In related news, Director John Cunningham Dugan sold 2,117 shares of the business’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 owned 12,194 shares in the company, 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 SEC, which is available at the SEC website. Also, insider Edward Skyler sold 25,000 shares of the business’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 $23,919,511.02. This trade represents a 12.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.11% of the company’s stock.

Citigroup Stock Performance

NYSE:C opened at $119.96 on Wednesday. Citigroup Inc. has a 1 year low of $71.65 and a 1 year high of $135.29. The firm has a 50 day moving average of $120.03 and a 200-day moving average of $114.43. 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 stock has a market capitalization of $204.60 billion, a P/E ratio of 14.87, a price-to-earnings-growth 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 for the quarter, topping 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 firm had revenue of $24.63 billion during the quarter, compared to analysts’ expectations of $22.96 billion. During the same quarter in the previous year, the company posted $1.96 EPS. Citigroup’s revenue was up 14.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Citigroup Inc. will post 10.65 EPS for the current fiscal year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, May 4th. Citigroup’s payout ratio is 29.74%.

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

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.