Letko Brosseau & Associates Inc. Cuts Holdings in Citigroup Inc. (NYSE:C)

Letko Brosseau & Associates Inc. lowered its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 11.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,198,862 shares of the company's stock after selling 159,047 shares during the period. Citigroup makes up 1.6% of Letko Brosseau & Associates Inc.'s investment portfolio, making the stock its 21st largest holding. Letko Brosseau & Associates Inc. owned about 0.06% of Citigroup worth $84,388,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of C. Blake Schutter Theil Wealth Advisors LLC raised its position in shares of 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 acquiring an additional 135 shares during the period. Hemington Wealth Management increased its stake in shares of 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 purchasing an additional 136 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in Citigroup by 3.4% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company's stock worth $289,000 after purchasing an additional 137 shares during the period. Rakuten Securities Inc. boosted its position in Citigroup by 2.4% during the fourth quarter. Rakuten Securities Inc. now owns 5,953 shares of the company's stock worth $419,000 after purchasing an additional 139 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Citigroup by 1.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company's stock valued at $592,000 after purchasing an additional 140 shares during the period. Hedge funds and other institutional investors own 71.72% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on C. Truist Financial decreased their target price on Citigroup from $84.00 to $79.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Evercore ISI decreased their price objective 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. Royal Bank of Canada cut their target price on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. reduced their price target on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Finally, Bank of America lowered 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. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Citigroup presently has an average rating of "Moderate Buy" and a consensus price target of $83.97.

Insider Buying and Selling at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the business's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total transaction of $301,504.42. Following the sale, the director now directly owns 13,048 shares in the company, valued at $890,656.48. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Mason sold 58,465 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the sale, the chief financial officer now directly owns 217,331 shares in the company, valued at $18,084,112.51. This represents a 21.20% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.

Citigroup Trading Up 0.8%

Shares of Citigroup stock traded up $0.58 during mid-day trading on Thursday, hitting $75.87. The stock had a trading volume of 12,612,946 shares, compared to its average volume of 14,488,818. The firm has a 50-day moving average of $67.79 and a two-hundred day moving average of $71.72. The firm has a market cap of $141.70 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 0.64 and a beta of 1.30. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. 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 issued 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 return on equity of 6.62% and a net margin of 7.43%. The company had revenue of $21.60 billion during the quarter, compared to analyst estimates of $21.34 billion. Sell-side analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders 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 2.95%. Citigroup's payout ratio is currently 35.39%.

Citigroup announced that its Board of Directors has authorized 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 purchase up to 13.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its shares are undervalued.

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.