Algert Global LLC Acquires 4,200 Shares of Citigroup Inc. (NYSE:C)

Algert Global LLC lifted its stake in Citigroup Inc. (NYSE:C - Free Report) by 7.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 63,247 shares of the company's stock after purchasing an additional 4,200 shares during the quarter. Algert Global LLC's holdings in Citigroup were worth $4,452,000 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 the business. Geode Capital Management LLC lifted its holdings in shares of Citigroup by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company's stock worth $2,853,484,000 after buying an additional 667,357 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Citigroup by 2.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company's stock worth $2,714,359,000 after buying an additional 815,003 shares in the last quarter. FMR LLC raised its stake in shares of Citigroup by 29.7% during the fourth quarter. FMR LLC now owns 34,362,176 shares of the company's stock worth $2,418,754,000 after buying an additional 7,863,718 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Citigroup by 9.3% in the 4th quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock valued at $2,311,048,000 after acquiring an additional 2,804,850 shares during the last quarter. Finally, Capital World Investors lifted its holdings in shares of Citigroup by 455.2% during the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company's stock valued at $2,206,908,000 after purchasing an additional 25,705,141 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Citigroup Stock Down 0.3 %

C stock traded down $0.25 during trading on Friday, reaching $71.39. The stock had a trading volume of 8,938,912 shares, compared to its average volume of 14,423,227. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $134.37 billion, a price-to-earnings ratio of 12.00, a P/E/G ratio of 0.64 and a beta of 1.30. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74. The company's 50 day moving average is $67.56 and its two-hundred day moving average is $71.51.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.12. The business had revenue of $21.60 billion for the quarter, compared to analysts' expectations of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Equities research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 13.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its stock is undervalued.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be issued a $0.56 dividend. The ex-dividend date is Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.14%. Citigroup's dividend payout ratio (DPR) is presently 35.39%.

Insiders Place Their Bets

In other news, CFO Mark Mason sold 58,465 shares of the business's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the completion of the transaction, the chief financial officer now directly owns 217,331 shares in the company, valued at $18,084,112.51. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Cunningham Dugan sold 4,417 shares of the business's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total value of $301,504.42. Following the transaction, the director now owns 13,048 shares of the company's stock, valued at approximately $890,656.48. The trade was a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 108,007 shares of company stock valued at $8,824,653 over the last ninety days. 0.08% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on C shares. Piper Sandler reiterated an "overweight" rating and issued a $77.00 price target (down from $83.00) on shares of Citigroup in a research note on Wednesday, April 16th. Bank of America decreased their price objective on Citigroup from $90.00 to $89.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Morgan Stanley dropped their price target on shares of Citigroup from $110.00 to $109.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Truist Financial cut their price objective on shares of Citigroup from $84.00 to $79.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Finally, Oppenheimer boosted their price target on Citigroup from $91.00 to $94.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $84.04.

Citigroup Company Profile

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.