California State Teachers Retirement System lessened its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 3.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,040,508 shares of the company's stock after selling 106,656 shares during the quarter. California State Teachers Retirement System owned approximately 0.16% of Citigroup worth $214,021,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Advisory Resource Group increased its holdings in shares of Citigroup by 3.7% during the 3rd quarter. Advisory Resource Group now owns 72,947 shares of the company's stock worth $4,566,000 after buying an additional 2,590 shares during the last quarter. Te Ahumairangi Investment Management Ltd grew its position in Citigroup by 6.7% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 202,691 shares of the company's stock valued at $12,617,000 after acquiring an additional 12,810 shares during the period. Anchor Investment Management LLC increased its stake in Citigroup by 24.4% during the third quarter. Anchor Investment Management LLC now owns 2,557 shares of the company's stock worth $160,000 after acquiring an additional 501 shares during the last quarter. World Investment Advisors LLC raised its holdings in shares of Citigroup by 36.6% in the 3rd quarter. World Investment Advisors LLC now owns 21,527 shares of the company's stock worth $1,348,000 after purchasing an additional 5,763 shares during the period. Finally, Wilmington Savings Fund Society FSB lifted its stake in shares of Citigroup by 432.6% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 38,191 shares of the company's stock valued at $2,391,000 after purchasing an additional 31,020 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on C shares. Evercore ISI dropped their target price on shares of Citigroup from $79.00 to $76.00 and set an "in-line" rating for the company in a research report on Tuesday, April 1st. Barclays raised shares of Citigroup from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Piper Sandler reaffirmed an "overweight" rating and set a $77.00 price target (down from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. StockNews.com downgraded Citigroup from a "buy" rating to a "hold" rating in a report on Sunday, March 30th. Finally, Keefe, Bruyette & Woods restated an "outperform" rating and set a $92.00 price objective (down previously from $96.00) on shares of Citigroup in a research note on Wednesday, April 16th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $84.04.
Check Out Our Latest Report on C
Insider Buying and Selling at Citigroup
In related news, COO Anand Selvakesari sold 30,000 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The stock was 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 of the company's stock, valued at approximately $18,586,498. This trade represents a 11.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sara Wechter sold 15,125 shares of the business's 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 owns 109,780 shares of the company's stock, valued at $8,893,277.80. This represents a 12.11 % decrease in their position. 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 quarter. 0.08% of the stock is owned by corporate insiders.
Citigroup Stock Up 3.5 %
Shares of Citigroup stock traded up $2.37 on Friday, hitting $70.51. 8,727,292 shares of the company's stock traded hands, compared to its average volume of 17,428,195. Citigroup Inc. has a 52-week low of $53.51 and a 52-week high of $84.74. 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 stock has a market cap of $132.70 billion, a P/E ratio of 11.85, a PEG ratio of 0.64 and a beta of 1.29. The firm's 50-day moving average is $68.39 and its 200 day moving average is $71.15.
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 firm had revenue of $21.60 billion for the quarter, compared to the consensus estimate of $21.34 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. Equities analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.
Citigroup Announces Dividend
The company also recently disclosed 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 3.18%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup's dividend payout ratio is currently 35.39%.
Citigroup announced that its board has authorized a share buyback program on Wednesday, January 15th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 13.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.
Citigroup Profile
(
Free Report)
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.
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