Fiera Capital Corp Boosts Stock Position in Citigroup Inc. $C

Fiera Capital Corp boosted its position in shares of Citigroup Inc. (NYSE:C) by 51.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 492,810 shares of the company’s stock after buying an additional 167,754 shares during the quarter. Fiera Capital Corp’s holdings in Citigroup were worth $57,506,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of C. Norges Bank purchased a new position in Citigroup during the fourth quarter worth $2,800,944,000. Vanguard Group Inc. boosted 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 buying an additional 4,938,923 shares during the period. Capital World Investors boosted 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 buying an additional 2,871,074 shares during the period. Eurizon Capital SGR S.p.A. purchased a new position in Citigroup during the fourth quarter worth $298,082,000. Finally, SG Americas Securities LLC boosted 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 buying an additional 2,008,946 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Performance

Shares of Citigroup stock opened at $132.62 on Monday. The company has a market capitalization of $226.19 billion, a PE ratio of 16.43, a P/E/G ratio of 0.59 and a beta of 1.12. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99. The company has a 50-day simple moving average of $124.87 and a two-hundred day simple moving average of $116.89. Citigroup Inc. has a one year low of $76.11 and a one year high of $135.83.

Citigroup (NYSE:C) last announced its earnings results on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.63 by $0.43. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The business had revenue of $24.63 billion during the quarter, compared to the consensus estimate of $22.96 billion. During the same period in the previous year, the company posted $1.96 earnings per share. The firm’s revenue was up 14.1% on a year-over-year basis. Research analysts expect that Citigroup Inc. will post 10.68 EPS for the current fiscal year.

Citigroup announced that its board has initiated a stock buyback program on Thursday, May 7th that permits the company to repurchase $30.00 billion in outstanding 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 management believes its stock is undervalued.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were issued a dividend of $0.60 per share. The ex-dividend date was Monday, May 4th. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. Citigroup’s dividend payout ratio is 29.74%.

Insider Activity

In related news, Director John Cunningham Dugan sold 2,117 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $125.30, for a total value of $265,260.10. Following the sale, the director 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $131.41, for a total value of $3,285,250.00. Following the completion of the sale, the insider owned 182,022 shares in the company, valued at approximately $23,919,511.02. This represents a 12.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $139.00 price objective on shares of Citigroup in a research note on Wednesday, April 15th. Evercore set a $139.00 target price on Citigroup in a research report on Wednesday, April 15th. JPMorgan Chase & Co. lifted their target price on Citigroup from $131.00 to $135.50 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Oppenheimer reiterated an “outperform” rating and set a $145.00 target price on shares of Citigroup in a research report on Friday, May 8th. Finally, Barclays lifted their price objective on Citigroup from $146.00 to $154.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $137.62.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup reshuffled senior leadership, naming Margo Pilic head of strategy, M&A, and investor relations, a move that could improve execution and simplify decision-making as CEO Jane Fraser continues the bank’s transformation. Citigroup Reshapes Leadership As It Pushes Into Tokenized Deposits
• Positive Sentiment: The bank is joining JPMorgan Chase, Bank of America, and other large lenders on a blockchain-based tokenized deposit network, signaling that Citi wants to stay competitive in next-generation payments and possibly benefit from lower-friction transaction infrastructure. JPMorgan, Citi and Big Banks Plan New Tokenized Deposit System to Answer Crypto
• Positive Sentiment: Investors are also responding to Citi’s growing use of AI in operations, including a document-review system that cuts account-opening review time from about an hour to 15 minutes, which may point to better efficiency and cost savings over time. Citi Used AI to Shrink a 60-Minute Document Review to 15 Minutes
• Neutral Sentiment: Citi also announced redemptions of $3.15 billion of notes due in 2027, a routine balance-sheet management move that does not appear to be a major catalyst on its own. Citigroup Announces $2.75 Billion Redemption…
• Neutral Sentiment: Several headlines about Citi’s stock becoming overextended and the broader market looking “frothy” may temper enthusiasm, but they read more like caution flags than direct negatives for the company’s fundamentals. The stock market is at its frothiest…

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.