Caisse DE Depot ET Placement DU Quebec Sells 213,096 Shares of Citigroup Inc. (NYSE:C)

Caisse DE Depot ET Placement DU Quebec cut its holdings in Citigroup Inc. (NYSE:C - Free Report) by 4.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,318,731 shares of the company's stock after selling 213,096 shares during the period. Caisse DE Depot ET Placement DU Quebec owned 0.23% of Citigroup worth $303,995,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. American Century Companies Inc. boosted its stake in Citigroup by 3.4% during the fourth quarter. American Century Companies Inc. now owns 352,948 shares of the company's stock valued at $24,844,000 after buying an additional 11,674 shares during the period. Brookstone Capital Management grew its holdings in shares of Citigroup by 340.6% during the fourth quarter. Brookstone Capital Management now owns 36,034 shares of the company's stock worth $2,536,000 after purchasing an additional 27,856 shares in the last quarter. Inspire Trust Co. N.A. increased its position in shares of Citigroup by 34.8% in the third quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company's stock worth $4,852,000 after purchasing an additional 20,000 shares during the last quarter. Invesco Ltd. raised its stake in Citigroup by 13.8% in the fourth quarter. Invesco Ltd. now owns 16,247,095 shares of the company's stock valued at $1,143,633,000 after purchasing an additional 1,970,300 shares in the last quarter. Finally, FNY Investment Advisers LLC lifted its position in Citigroup by 168.7% during the fourth quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company's stock valued at $1,376,000 after purchasing an additional 12,280 shares during the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Citigroup

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the stock in a transaction dated 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 owns 217,331 shares of the company's stock, valued at $18,084,112.51. This represents a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sara Wechter sold 15,125 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $81.01, for a total value of $1,225,276.25. Following the transaction, the insider now directly owns 109,780 shares of the company's stock, valued at approximately $8,893,277.80. The trade was a 12.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 108,007 shares of company stock valued at $8,824,653 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

C has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price objective on 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 restated an "overweight" rating and issued a $77.00 price objective (down previously from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. Royal Bank of Canada dropped their target price 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. Truist Financial reduced their price target on Citigroup from $84.00 to $79.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Finally, StockNews.com lowered Citigroup from a "buy" rating to a "hold" rating in a research report on Sunday, March 30th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Citigroup presently has a consensus rating of "Moderate Buy" and an average price target of $84.04.

Citigroup Stock Performance

Shares of NYSE C traded down $0.47 during trading on Tuesday, reaching $69.77. 3,897,702 shares of the company traded hands, compared to its average volume of 17,238,828. 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 firm has a 50 day simple moving average of $68.06 and a 200-day simple moving average of $71.35. Citigroup Inc. has a 52-week low of $53.51 and a 52-week high of $84.74. The stock has a market capitalization of $131.31 billion, a PE ratio of 11.73, a P/E/G ratio of 0.64 and a beta of 1.30.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.12. The company had revenue of $21.60 billion during 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 anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup declared that its board has approved a stock buyback plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its shares are undervalued.

Citigroup Announces Dividend

The company also recently announced 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. This represents a $2.24 annualized dividend and a yield of 3.21%. The ex-dividend date is Monday, May 5th. Citigroup's dividend payout ratio is 35.39%.

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.