Ethic Inc. Grows Position in Citigroup Inc. (NYSE:C)

Ethic Inc. grew its position in Citigroup Inc. (NYSE:C - Free Report) by 23.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 124,345 shares of the company's stock after acquiring an additional 23,303 shares during the period. Ethic Inc.'s holdings in Citigroup were worth $8,753,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in C. Core Alternative Capital raised its holdings in shares of Citigroup by 83.4% during the 4th quarter. Core Alternative Capital now owns 376 shares of the company's stock worth $26,000 after acquiring an additional 171 shares during the period. Webster Bank N. A. lifted its holdings in Citigroup by 150.0% in the fourth quarter. Webster Bank N. A. now owns 500 shares of the company's stock valued at $35,000 after acquiring an additional 300 shares during the last quarter. Creative Capital Management Investments LLC purchased a new position in Citigroup in the fourth quarter worth approximately $35,000. Sierra Ocean LLC purchased a new stake in Citigroup in the fourth quarter valued at $37,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in shares of Citigroup in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 71.72% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on C. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $92.00 target price (down previously from $96.00) on shares of Citigroup in a research note on Wednesday, April 16th. Evercore ISI decreased their price target on Citigroup from $79.00 to $76.00 and set an "in-line" rating on the stock in a research note on Tuesday, April 1st. Morgan Stanley dropped their price objective on Citigroup from $110.00 to $109.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Truist Financial lowered their target price on Citigroup from $84.00 to $79.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Finally, StockNews.com cut shares of Citigroup from a "buy" rating to a "hold" rating in a research report on Sunday, March 30th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $84.04.

Citigroup Stock Up 0.9%

NYSE:C traded up $0.64 during midday trading on Tuesday, hitting $75.55. 12,394,601 shares of the company were exchanged, compared to its average volume of 14,462,577. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74. The company 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. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The company has a fifty day simple moving average of $67.59 and a 200 day simple moving average of $71.66.

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 analysts' consensus estimates of $1.84 by $0.12. The firm 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%. As a group, equities analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

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 given a $0.56 dividend. The ex-dividend date is Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a yield of 2.96%. Citigroup's payout ratio is currently 35.39%.

Citigroup announced that its board has initiated a stock repurchase program on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 13.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the completion of the sale, the chief operating officer now owns 229,180 shares in the company, valued at approximately $18,586,498. This trade represents a 11.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark Mason sold 58,465 shares of the company's 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 in the company, valued at approximately $18,084,112.51. This trade represents a 21.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 108,007 shares of company stock valued at $8,824,653. Corporate insiders own 0.08% of the company's stock.

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.