Guggenheim Capital LLC Sells 58,982 Shares of Citigroup Inc. (NYSE:C)

Guggenheim Capital LLC lowered its holdings in Citigroup Inc. (NYSE:C - Free Report) by 33.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 119,685 shares of the company's stock after selling 58,982 shares during the period. Guggenheim Capital LLC's holdings in Citigroup were worth $8,425,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Blake Schutter Theil Wealth Advisors LLC lifted its position in Citigroup by 1.6% in the fourth quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company's stock worth $608,000 after buying an additional 135 shares during the last quarter. Hemington Wealth Management grew its stake in Citigroup by 10.9% in the 4th quarter. Hemington Wealth Management now owns 1,387 shares of the company's stock valued at $97,000 after acquiring an additional 136 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in Citigroup by 3.4% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company's stock valued at $289,000 after acquiring an additional 137 shares in the last quarter. Rakuten Securities Inc. increased its holdings in shares of Citigroup by 2.4% during the 4th quarter. Rakuten Securities Inc. now owns 5,953 shares of the company's stock worth $419,000 after buying an additional 139 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of Citigroup by 1.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company's stock worth $592,000 after buying an additional 140 shares during the period. Institutional investors own 71.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on C. Oppenheimer reduced their price objective on shares of Citigroup from $110.00 to $102.00 and set an "outperform" rating for the company in a research report on Friday, January 3rd. Truist Financial decreased their price objective on Citigroup from $84.00 to $79.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. The Goldman Sachs Group lowered their price objective on shares of Citigroup from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, March 19th. 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. Finally, Royal Bank of Canada cut their price objective on 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 issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $84.61.

Insiders Place Their Bets

In related news, COO Anand Selvakesari sold 30,000 shares of the 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 completion of the transaction, the chief operating officer now directly owns 229,180 shares of the company's stock, valued at $18,586,498. This represents a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Mason sold 58,465 shares of the company's stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 217,331 shares in the company, valued at approximately $18,084,112.51. The trade was 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 valued at $8,523,149 in the last ninety days. Company insiders own 0.08% of the company's stock.

Citigroup Price Performance

NYSE:C traded down $0.81 during trading hours on Monday, hitting $62.44. 2,161,019 shares of the company's stock traded hands, compared to its average volume of 17,831,861. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.74. The business's fifty day simple moving average is $71.12 and its two-hundred day simple moving average is $71.05. 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 market cap of $117.52 billion, a P/E ratio of 10.49, a P/E/G ratio of 0.64 and a beta of 1.29.

Citigroup (NYSE:C - Get Free Report) last announced its 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 business had revenue of $21.60 billion during the quarter, compared to analyst estimates of $21.34 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. On average, research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

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 given a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 3.59%. Citigroup's payout ratio is 35.39%.

Citigroup announced that its board has approved a share repurchase program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes 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 management believes its stock is undervalued.

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.