Cetera Investment Advisers Raises Stock Position in Citigroup Inc. (NYSE:C)

Cetera Investment Advisers raised its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 377,644 shares of the company's stock after acquiring an additional 13,230 shares during the period. Cetera Investment Advisers' holdings in Citigroup were worth $26,582,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in C. Norges Bank bought a new position in shares of Citigroup during the 4th quarter worth about $1,935,599,000. Capital World Investors lifted 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 acquiring an additional 25,705,141 shares in the last quarter. FMR LLC lifted 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 acquiring an additional 7,863,718 shares in the last quarter. Swedbank AB lifted 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 acquiring an additional 3,947,912 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Citigroup in the 4th quarter valued at about $198,231,000. Institutional investors own 71.72% of the company's stock.

Insiders Place Their Bets

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total transaction of $301,504.42. Following the completion of the transaction, the director now owns 13,048 shares in the company, valued at $890,656.48. This trade represents a 25.29% decrease in their ownership of the stock. The transaction 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 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 transaction, the chief financial officer now owns 217,331 shares of the company's stock, valued at $18,084,112.51. This trade represents a 21.20% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 108,007 shares of company stock worth $8,824,653. Company insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on C shares. StockNews.com lowered shares of Citigroup from a "buy" rating to a "hold" rating in a research note on Sunday, March 30th. Oppenheimer raised their price target on shares of Citigroup from $91.00 to $94.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Piper Sandler reiterated an "overweight" rating and issued a $77.00 price objective (down from $83.00) on shares of Citigroup in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $92.00 price objective (down from $96.00) on shares of Citigroup in a research note on Wednesday, April 16th. Finally, Royal Bank of Canada cut their price target on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $84.04.

Citigroup Trading Up 4.7%

Shares of C stock traded up $3.39 during mid-day trading on Monday, reaching $74.84. The stock had a trading volume of 18,456,415 shares, compared to its average volume of 14,439,382. The stock's 50-day moving average price is $67.56 and its two-hundred day moving average price is $71.57. Citigroup Inc. has a 52-week low of $53.51 and a 52-week high of $84.74. The firm has a market capitalization of $140.85 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 0.64 and a beta of 1.30. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50.

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

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

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be given a $0.56 dividend. The ex-dividend date is Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 2.99%. Citigroup's payout ratio is presently 35.39%.

Citigroup 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.