Citigroup Inc. (NYSE:C) Shares Sold by Boyar Asset Management Inc.

Boyar Asset Management Inc. lessened its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 21.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 18,890 shares of the company's stock after selling 5,105 shares during the period. Boyar Asset Management Inc.'s holdings in Citigroup were worth $1,330,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Citigroup during the fourth quarter worth $1,935,599,000. Capital World Investors boosted its position in Citigroup by 455.2% in the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company's stock valued at $2,206,908,000 after buying an additional 25,705,141 shares during the period. FMR LLC boosted its position in Citigroup by 29.7% in the 4th quarter. FMR LLC now owns 34,362,176 shares of the company's stock valued at $2,418,754,000 after buying an additional 7,863,718 shares during the period. Franklin Resources Inc. boosted its position in Citigroup by 18.5% in the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company's stock valued at $1,998,976,000 after buying an additional 4,680,713 shares during the period. Finally, Swedbank AB boosted its position in Citigroup by 90.2% in the 4th quarter. Swedbank AB now owns 8,326,745 shares of the company's stock valued at $586,120,000 after buying an additional 3,947,912 shares during the period. Hedge funds and other institutional investors own 71.72% of the company's stock.

Citigroup Stock Performance

Citigroup stock traded down $0.22 during mid-day trading on Thursday, reaching $68.16. 9,675,191 shares of the company traded hands, compared to its average volume of 14,414,066. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74. The company has a market capitalization of $128.29 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 0.64 and a beta of 1.29. The firm's fifty day moving average is $68.39 and its two-hundred day moving average is $71.15.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.84 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. On average, equities research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be paid 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 3.29%. Citigroup's payout ratio is currently 35.39%.

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on C shares. Morgan Stanley lowered their price objective 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. Bank of America lowered their price objective on shares of Citigroup from $90.00 to $89.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. lowered their price target on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Piper Sandler reaffirmed an "overweight" rating and issued a $77.00 price target (down previously from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. Finally, Royal Bank of Canada lowered their price target on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Citigroup presently has an average rating of "Moderate Buy" and an average price target of $84.04.

Insider Transactions at Citigroup

In other news, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.10, for a total value of $2,433,000.00. Following the sale, the chief operating officer now owns 229,180 shares in the company, valued at $18,586,498. This trade represents a 11.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Mason sold 58,465 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $83.21, for a total value of $4,864,872.65. Following the sale, the chief financial officer now owns 217,331 shares of the company's stock, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 103,590 shares of company stock worth $8,523,149 over the last 90 days. 0.08% of the stock is currently owned by company insiders.

About Citigroup

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.