Institutional Owners May Ignore Citigroup Inc.'s (NYSE:C) Recent US$6.8b Market Cap Decline as Longer-term Profits Stay in the Green
Institutional Owners May Ignore Citigroup Inc.'s (NYSE:C) Recent US$6.8b Market Cap Decline as Longer-term Profits Stay in the Green
Key Insights
关键见解
- Institutions' substantial holdings in Citigroup implies that they have significant influence over the company's share price
- The top 25 shareholders own 46% of the company
- Recent sales by insiders
- 机构持有花旗集团的大量股权意味着它们对公司的股价有重大影响
- 前 25 名股东拥有公司 46% 的股份
- 内部人士最近的销售情况
A look at the shareholders of Citigroup Inc. (NYSE:C) can tell us which group is most powerful. The group holding the most number of shares in the company, around 72% to be precise, is institutions. Put another way, the group faces the maximum upside potential (or downside risk).
看看花旗集团(纽约证券交易所代码:C)的股东可以告诉我们哪个集团最强大。持有该公司股份最多的集团是机构,准确地说约为72%。换句话说,该集团面临最大的上行潜力(或下行风险)。
No shareholder likes losing money on their investments, especially institutional investors who saw their holdings drop 5.7% in value last week. Still, the 52% one-year gains may have helped mitigate their overall losses. But they would probably be wary of future losses.
没有股东喜欢在投资中蒙受损失,尤其是上周持股价值下降5.7%的机构投资者。尽管如此,52%的一年期涨幅可能有助于减轻他们的总体亏损。但是他们可能会对未来的损失保持警惕。
Let's delve deeper into each type of owner of Citigroup, beginning with the chart below.
让我们从下图开始,深入研究花旗集团的每种所有者。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240910/0-062c16f74a7361a8a383223e5f70fcac-0-06b5909cb9cb5cd0622a8878289f4321.png/big)
What Does The Institutional Ownership Tell Us About Citigroup?
关于花旗集团,机构所有权告诉我们什么?
Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index.
机构投资者通常将自己的回报与常见指数的回报进行比较。因此,他们通常会考虑收购相关基准指数中包含的大型公司。
As you can see, institutional investors have a fair amount of stake in Citigroup. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see Citigroup's historic earnings and revenue below, but keep in mind there's always more to the story.
如您所见,机构投资者持有花旗集团的大量股份。这意味着在这些机构工作的分析师已经看过这只股票,他们很喜欢。但是就像其他人一样,他们可能错了。当多家机构拥有一只股票时,总是存在处于 “拥挤交易” 的风险。当这样的交易出错时,多方可能会竞相快速出售股票。对于没有增长历史的公司,这种风险更高。你可以在下面看到花旗集团的历史收益和收入,但请记住,故事总是有更多内容。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240910/0-062c16f74a7361a8a383223e5f70fcac-1-245200b7e5934836c428c9aca05c12fe.png/big)
Institutional investors own over 50% of the company, so together than can probably strongly influence board decisions. Hedge funds don't have many shares in Citigroup. The Vanguard Group, Inc. is currently the largest shareholder, with 8.8% of shares outstanding. With 8.4% and 4.3% of the shares outstanding respectively, BlackRock, Inc. and State Street Global Advisors, Inc. are the second and third largest shareholders.
机构投资者拥有公司50%以上的股份,因此加在一起可能会对董事会的决策产生重大影响。对冲基金在花旗集团的股票不多。Vanguard Group, Inc.目前是最大股东,已发行股份的8.8%。贝莱德公司和道富环球顾问公司分别拥有8.4%和4.3%的已发行股份,是第二和第三大股东。
Our studies suggest that the top 25 shareholders collectively control less than half of the company's shares, meaning that the company's shares are widely disseminated and there is no dominant shareholder.
我们的研究表明,前25名股东共同控制的公司股份不到一半,这意味着该公司的股票分布广泛,没有占主导地位的股东。
Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future.
研究机构所有权是衡量和筛选股票预期表现的好方法。通过研究分析师的情绪也可以达到同样的目的。有相当数量的分析师在报道该股,因此了解他们对未来的总体看法可能很有用。
Insider Ownership Of Citigroup
花旗集团的内部所有权
While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves.
尽管内部人士的确切定义可能是主观的,但几乎每个人都认为董事会成员是内部人士。公司管理层对董事会负责,后者应代表股东的利益。值得注意的是,有时高层管理人员自己也是董事会成员。
Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group.
大多数人认为内部所有权是积极的,因为这可能表明董事会与其他股东关系良好。但是,在某些情况下,过多的权力集中在该群体中。
Our data suggests that insiders own under 1% of Citigroup Inc. in their own names. It is a very large company, so it would be surprising to see insiders own a large proportion of the company. Though their holding amounts to less than 1%, we can see that board members collectively own US$268m worth of shares (at current prices). It is good to see board members owning shares, but it might be worth checking if those insiders have been buying.
我们的数据表明,内部人士以自己的名义拥有花旗集团不到1%的股份。这是一家非常大的公司,因此看到内部人士拥有该公司的很大一部分股份会令人惊讶。尽管他们的持股量不到1%,但我们可以看到董事会成员共拥有价值2.68亿美元的股票(按当前价格计算)。很高兴看到董事会成员拥有股票,但可能值得检查一下这些内部人士是否在买入。
General Public Ownership
一般公有制
The general public-- including retail investors -- own 25% stake in the company, and hence can't easily be ignored. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders.
包括散户投资者在内的公众拥有该公司25%的股份,因此不容易被忽视。这种所有权规模虽然可观,但如果决定与其他大股东不同步,可能不足以改变公司的政策。
Next Steps:
后续步骤:
It's always worth thinking about the different groups who own shares in a company. But to understand Citigroup better, we need to consider many other factors. Be aware that Citigroup is showing 2 warning signs in our investment analysis , you should know about...
拥有公司股份的不同群体总是值得考虑的。但是,为了更好地了解花旗集团,我们需要考虑许多其他因素。请注意,花旗集团在我们的投资分析中显示了两个警告信号,您应该知道...
If you would prefer discover what analysts are predicting in terms of future growth, do not miss this free report on analyst forecasts.
如果你想了解分析师对未来增长的预测,千万不要错过这份关于分析师预测的免费报告。
NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.
注意:本文中的数字是使用过去十二个月的数据计算得出的,这些数据是指截至财务报表日期当月最后一天的12个月期间。这可能与全年年度报告数据不一致。
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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。