Pzena Investment Management LLC reduced its stake in Citigroup Inc. by 7.7% in Q3, selling over 1 million shares but still holding 12.5 million shares valued at $1.272 billion, making it their third-largest holding. This reduction comes amid an insider sale by Cantu Ernesto Torres and a positive outlook from analysts who have raised price targets, citing Citi’s exit from Russia and strategic plans to boost Return on Tangible Common Equity (ROTCE) by 2026. The company recently announced a quarterly dividend and analysts maintain a “Moderate Buy” consensus rating for the stock.
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Citigroup Inc. $C Position Trimmed by Pzena Investment Management LLC
Pzena Investment Management LLC reduced its stake in Citigroup Inc. by 7.7% in Q3, selling over 1 million shares but still holding 12.5 million shares valued at $1.272 billion, making it their third-largest holding. This reduction comes amid an insider sale by Cantu Ernesto Torres and a positive outlook from analysts who have raised price targets, citing Citi’s exit from Russia and strategic plans to boost Return on Tangible Common Equity (ROTCE) by 2026. The company recently announced a quarterly dividend and analysts maintain a “Moderate Buy” consensus rating for the stock.