Vanguard Trims Citigroup Stake to 10.7% as of Dec 29, 2023

TL;DR

**Vanguard slightly cut its Citigroup stake to 10.7%, watch for other institutional moves.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended Schedule 13G/A on February 13, 2024, indicating its ownership in Citigroup Inc. (C). As of December 29, 2023, Vanguard reported beneficial ownership of 206,801,657 shares of Citigroup's Common Stock, representing 10.7% of the company. This filing is an update to Vanguard's previous disclosures, showing a slight decrease in their percentage ownership from 10.8% reported in their last filing, which matters to investors as it signals a minor adjustment in a significant institutional holder's position.

Why It Matters

This filing shows that a major institutional investor, The Vanguard Group, slightly reduced its percentage ownership in Citigroup, which could be interpreted as a minor shift in their investment strategy or a rebalancing of their portfolio.

Risk Assessment

Risk Level: low — A minor adjustment in ownership by a passive institutional investor like Vanguard typically poses low risk to the stock's overall stability.

Analyst Insight

Investors should note that a minor reduction in a passive institutional stake like Vanguard's is generally not a strong buy/sell signal, but rather a portfolio rebalancing. It's prudent to monitor future filings for more significant changes by major holders.

Key Numbers

• 206,801,657 — Shares Beneficially Owned (The total number of Citigroup shares Vanguard holds, indicating their significant investment.)
• 10.7% — Percentage of Class (This percentage shows Vanguard's substantial influence as a shareholder in Citigroup.)
• December 29, 2023 — Event Date (The specific date when Vanguard's ownership position was measured for this filing.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and institutional investor
• Citigroup Inc. (company) — subject company, issuer of securities
• 206,801,657 shares (dollar_amount) — total shares beneficially owned by Vanguard
• 10.7% (dollar_amount) — percentage of Citigroup's Common Stock owned by Vanguard
• December 29, 2023 (date) — date of event requiring the filing
• February 13, 2024 (date) — filing date of the SC 13G/A

Forward-Looking Statements

• Vanguard will maintain a significant, albeit slightly adjusted, passive investment in Citigroup. (The Vanguard Group) — high confidence, target: Next 12 months

FAQ

Filing Documents

• tv0039-citigroupinc.htm (SC 13G/A) — 11KB
• 0001104659-24-020031.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: Citigroup Inc

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 388 Greenwich Street New York, NY 10013

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 172967424

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR