Fjarde AP Fonden Fourth Swedish National Pension Fund Buys 5,027 Shares of Citigroup Inc. $C

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Citigroup Inc. (NYSE:C) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 319,091 shares of the company’s stock after purchasing an additional 5,027 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Citigroup were worth $32,388,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of C. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of Citigroup by 1.1% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 597,276 shares of the company’s stock worth $60,652,000 after buying an additional 6,788 shares in the last quarter. Blalock Williams LLC bought a new stake in Citigroup during the 3rd quarter worth approximately $367,000. Impact Capital Partners LLC purchased a new stake in Citigroup in the 3rd quarter worth approximately $218,000. Octavia Wealth Advisors LLC grew its position in shares of Citigroup by 7.7% during the 3rd quarter. Octavia Wealth Advisors LLC now owns 2,812 shares of the company’s stock valued at $285,000 after purchasing an additional 202 shares in the last quarter. Finally, Avantra Family Wealth Inc. increased its holdings in shares of Citigroup by 1.2% in the third quarter. Avantra Family Wealth Inc. now owns 22,034 shares of the company’s stock worth $2,236,000 after purchasing an additional 261 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Q4 earnings beat and weaker credit reserve build — Citi reported adjusted EPS above estimates and insiders highlighted lighter-than-expected loan-loss provisions, which reassures investors on near-term credit trends. Citigroup Q4 earnings (CNBC)
• Positive Sentiment: Investment-banking and advisory momentum — Citi saw a large jump in M&A/advisory fees (reported ~84% growth in advisory fees), which boosted revenue mix and offset some retail headwinds. Citi sees 84% jump in M&A fees (PYMNTS)
• Positive Sentiment: Analyst upgrades and higher targets — Several brokers have lifted forecasts and reiterated bullish views after the quarter, supporting the rally as investors mark up valuations. Analysts increase forecasts (Benzinga)
• Neutral Sentiment: Cost actions signaled — Management reiterated a multi-year productivity/talent reset and CEO Jane Fraser warned more job cuts are likely; markets see this as both a path to improved efficiency and a near-term execution/transition risk. CEO signals more job cuts (TipRanks)
• Neutral Sentiment: Early rounds of layoffs — Citi announced ~1,000 role reductions this week as part of a larger plan; investors weigh cost savings against execution and morale implications. Citi job cuts (Barchart)
• Negative Sentiment: Revenue missed estimates and one-time Russia charge — Total revenue fell short of consensus and the quarter included a ~$1.2B pre-tax loss tied to the planned Russia exit, which trimmed reported profit and raised capital/earnings quality questions. Profit hit by Russia charge (Reuters)
• Negative Sentiment: Regulatory/political overhang on consumer credit — Industry headlines about potential credit-card rate caps are weighing on bank valuations and create an uncertain policy risk to Citi’s card business and future NII. Credit card rate cap risks (CNBC)

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on C. Keefe, Bruyette & Woods lifted their price objective on Citigroup from $118.00 to $131.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. The Goldman Sachs Group lifted their price target on Citigroup from $113.00 to $127.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Morgan Stanley upped their price objective on shares of Citigroup from $134.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citigroup in a research note on Wednesday, October 8th. Finally, Truist Financial boosted their price target on shares of Citigroup from $123.00 to $129.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and an average target price of $124.65.

Citigroup Trading Up 4.4%

NYSE C opened at $117.32 on Friday. The firm has a market cap of $209.92 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 0.43 and a beta of 1.18. Citigroup Inc. has a 1-year low of $55.51 and a 1-year high of $124.17. The stock has a 50-day moving average of $110.32 and a 200-day moving average of $100.84. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 1.63.

Citigroup (NYSE:C) last announced its quarterly earnings data on Wednesday, January 14th. The company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.16. Citigroup had a return on equity of 8.28% and a net margin of 8.50%.The firm had revenue of $19.87 billion during the quarter, compared to the consensus estimate of $20.99 billion. During the same quarter in the previous year, the company posted $1.34 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 2nd will be given a $0.60 dividend. The ex-dividend date is Monday, February 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.0%. Citigroup’s payout ratio is presently 34.43%.

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.