BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Increases Stock Position in Citigroup Inc. (NYSE:C)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Citigroup Inc. (NYSE:C - Free Report) by 14.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 365,321 shares of the company's stock after buying an additional 47,040 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Citigroup were worth $25,715,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Core Alternative Capital raised its position in Citigroup by 83.4% during the fourth quarter. Core Alternative Capital now owns 376 shares of the company's stock valued at $26,000 after purchasing an additional 171 shares in the last quarter. Webster Bank N. A. grew its stake in shares of Citigroup by 150.0% during the fourth quarter. Webster Bank N. A. now owns 500 shares of the company's stock valued at $35,000 after buying an additional 300 shares during the last quarter. Creative Capital Management Investments LLC purchased a new position in shares of Citigroup in the fourth quarter worth about $35,000. Sierra Ocean LLC purchased a new position in shares of Citigroup in the fourth quarter worth about $37,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in shares of Citigroup in the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 71.72% of the company's stock.

Citigroup Stock Down 0.4%

Citigroup stock traded down $0.33 during trading hours on Friday, hitting $73.09. 9,849,964 shares of the stock traded hands, compared to its average volume of 14,554,213. The firm's 50-day moving average price is $68.68 and its two-hundred day moving average price is $72.26. 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 market cap of $136.52 billion, a PE ratio of 12.28, a PEG ratio of 0.64 and a beta of 1.30. Citigroup Inc. has a one year low of $53.51 and a one year 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, beating the consensus estimate of $1.84 by $0.12. The business had revenue of $21.60 billion for 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%. On average, research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a dividend of $0.56 per share. The ex-dividend date was Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 3.06%. Citigroup's payout ratio is 35.39%.

Insider Buying and Selling at Citigroup

In other news, Director John Cunningham Dugan sold 4,417 shares of the business's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total value of $301,504.42. Following the sale, the director now directly owns 13,048 shares of the company's stock, valued at $890,656.48. The trade was a 25.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on C. TD Cowen began coverage on Citigroup in a report on Thursday, May 15th. They issued a "hold" rating and a $83.00 price objective on the stock. Bank of America decreased their price objective on Citigroup from $90.00 to $89.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $92.00 price objective (down previously from $96.00) on shares of Citigroup in a report on Wednesday, April 16th. Oppenheimer reiterated an "outperform" rating on shares of Citigroup in a report on Tuesday. Finally, 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. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $83.97.

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.