Cresset Asset Management LLC decreased its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 75.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,222 shares of the company's stock after selling 107,503 shares during the period. Cresset Asset Management LLC's holdings in Citigroup were worth $2,409,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of C. Geode Capital Management LLC raised its position in shares of Citigroup by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company's stock worth $2,853,484,000 after acquiring an additional 667,357 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Citigroup by 2.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company's stock valued at $2,714,359,000 after acquiring an additional 815,003 shares during the period. FMR LLC lifted its stake 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 in the last quarter. Franklin Resources Inc. boosted its stake in shares of Citigroup by 9.3% in the fourth quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock worth $2,311,048,000 after acquiring an additional 2,804,850 shares during the last quarter. Finally, Capital World Investors lifted its stake in shares of Citigroup by 455.2% in the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company's stock worth $2,206,908,000 after buying an additional 25,705,141 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
C has been the subject of a number of analyst reports. The Goldman Sachs Group dropped their price objective on shares of Citigroup from $90.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday, March 19th. JPMorgan Chase & Co. cut their price target on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Truist Financial dropped their target price on Citigroup from $84.00 to $79.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $92.00 price objective (down previously from $96.00) on shares of Citigroup in a research note on Wednesday, April 16th. Finally, Evercore ISI reduced their target price on shares of Citigroup from $79.00 to $76.00 and set an "in-line" rating on the stock in a report on Tuesday, April 1st. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $84.04.
Check Out Our Latest Research Report on C
Citigroup Price Performance
Shares of NYSE:C traded up $0.64 during midday trading on Tuesday, reaching $75.55. 12,394,601 shares of the company's stock were exchanged, compared to its average volume of 14,462,577. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The company's 50 day simple moving average is $67.59 and its two-hundred day simple moving average is $71.66. The firm has a market capitalization of $142.20 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 0.64 and a beta of 1.30. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74.
Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm had revenue of $21.60 billion during the quarter, compared to analysts' expectations of $21.34 billion. Equities research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.
Citigroup Announces Dividend
The business 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 dividend of $0.56 per share. The ex-dividend date is Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.96%. Citigroup's payout ratio is 35.39%.
Citigroup announced that its board has authorized a share buyback plan on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its stock is undervalued.
Insider Activity at Citigroup
In related news, CFO Mark Mason sold 58,465 shares of the firm'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 transaction, the chief financial officer now owns 217,331 shares in the company, valued at approximately $18,084,112.51. This trade represents a 21.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Cunningham Dugan sold 4,417 shares of the business's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total value of $301,504.42. Following the transaction, the director now directly owns 13,048 shares of the company's stock, valued at approximately $890,656.48. The trade was a 25.29% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 108,007 shares of company stock valued at $8,824,653. 0.08% of the stock is owned by corporate insiders.
About Citigroup
(
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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