Donald Smith & CO. Inc. Decreases Position in Citigroup Inc. (NYSE:C)

Key Points

• Donald Smith & CO. Inc. reduced its stake in Citigroup Inc. by 8.3% during the first quarter, now holding 1,196,413 shares valued at approximately $84.9 million.
• Large institutional investors such as Capital World Investors and Goldman Sachs Group Inc. significantly increased their stakes, with Capital World boosting its holdings by 455.2% to 31.35 million shares.
• Citigroup announced a dividend increase, raising its quarterly payout from $0.56 to $0.60 per share, resulting in a 2.6% dividend yield.

Donald Smith & CO. Inc. decreased its holdings in Citigroup Inc. (NYSE:C - Free Report) by 8.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,196,413 shares of the company's stock after selling 108,670 shares during the period. Citigroup comprises approximately 2.1% of Donald Smith & CO. Inc.'s investment portfolio, making the stock its 21st biggest holding. Donald Smith & CO. Inc. owned about 0.06% of Citigroup worth $84,933,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Capital World Investors increased its position in shares of Citigroup by 455.2% during the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company's stock worth $2,206,908,000 after purchasing an additional 25,705,141 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Citigroup by 179.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock worth $1,031,790,000 after acquiring an additional 9,334,038 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Citigroup during the 1st quarter worth about $578,100,000. Capital International Investors boosted its stake in shares of Citigroup by 148.6% during the 4th quarter. Capital International Investors now owns 4,524,890 shares of the company's stock worth $318,507,000 after acquiring an additional 2,704,783 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Citigroup by 13.9% during the 4th quarter. Northern Trust Corp now owns 20,232,550 shares of the company's stock worth $1,424,169,000 after acquiring an additional 2,467,958 shares in the last quarter. Institutional investors own 71.72% of the company's stock.

Insiders Place Their Bets

In related news, Director Peter B. Henry sold 3,000 shares of Citigroup stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total value of $271,200.00. Following the completion of the sale, the director owned 2,140 shares in the company, valued at approximately $193,456. This trade represents a 58.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.08% of the company's stock.

Citigroup Trading Up 0.1%

Shares of NYSE C traded up $0.14 during midday trading on Wednesday, reaching $95.88. 2,512,217 shares of the stock were exchanged, compared to its average volume of 15,795,143. The company has a 50 day simple moving average of $86.78 and a 200 day simple moving average of $77.55. The stock has a market capitalization of $176.51 billion, a P/E ratio of 14.16, a PEG ratio of 0.79 and a beta of 1.38. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99. Citigroup Inc. has a twelve month low of $55.51 and a twelve month high of $96.90.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. The business had revenue of $21.67 billion during the quarter, compared to the consensus estimate of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The business's revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.52 EPS. As a group, equities analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 4th will be issued a $0.60 dividend. This is a boost from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date is Monday, August 4th. This represents a $2.40 annualized dividend and a yield of 2.5%. Citigroup's payout ratio is 35.45%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on C. Wells Fargo & Company increased their target price on shares of Citigroup from $110.00 to $115.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Barclays increased their target price on shares of Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods reaffirmed a "buy" rating on shares of Citigroup in a research note on Wednesday, July 16th. TD Cowen raised their price target on shares of Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a research note on Wednesday, July 16th. Finally, Evercore ISI set a $77.00 price target on shares of Citigroup in a research note on Monday, July 7th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $96.54.

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.