Northern Trust Corp Grows Holdings in Citigroup Inc. (NYSE:C)

Northern Trust Corp grew its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 13.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,232,550 shares of the company's stock after buying an additional 2,467,958 shares during the period. Northern Trust Corp owned 1.07% of Citigroup worth $1,424,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of C. Advisory Resource Group raised its stake in Citigroup by 3.7% during the third quarter. Advisory Resource Group now owns 72,947 shares of the company's stock valued at $4,566,000 after purchasing an additional 2,590 shares in the last quarter. Te Ahumairangi Investment Management Ltd raised its position in shares of Citigroup by 6.7% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 202,691 shares of the company's stock valued at $12,617,000 after buying an additional 12,810 shares in the last quarter. Anchor Investment Management LLC lifted its holdings in shares of Citigroup by 24.4% in the 3rd quarter. Anchor Investment Management LLC now owns 2,557 shares of the company's stock valued at $160,000 after acquiring an additional 501 shares during the last quarter. World Investment Advisors LLC increased its stake in Citigroup by 36.6% during the third quarter. World Investment Advisors LLC now owns 21,527 shares of the company's stock worth $1,348,000 after acquiring an additional 5,763 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its stake in shares of Citigroup by 432.6% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 38,191 shares of the company's stock valued at $2,391,000 after purchasing an additional 31,020 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Down 0.7 %

C stock traded down $0.50 during trading on Wednesday, hitting $68.38. 15,751,089 shares of the company's stock traded hands, compared to its average volume of 14,431,331. The firm has a market capitalization of $128.70 billion, a P/E ratio of 11.49, a PEG ratio of 0.64 and a beta of 1.29. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The business has a fifty day simple moving average of $68.82 and a two-hundred day simple moving average of $71.15.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly 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 business had revenue of $21.60 billion for the quarter, compared to the consensus estimate of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Sell-side analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup declared that its board has initiated a share repurchase program on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to purchase up to 13.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup's payout ratio is 35.39%.

Insider Activity

In related news, insider Sara Wechter sold 15,125 shares of the company's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total value of $1,225,276.25. Following the transaction, the insider now directly owns 109,780 shares of the company's stock, valued at $8,893,277.80. This represents a 12.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction dated 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 sale, the chief financial officer now directly owns 217,331 shares of the company's stock, valued at approximately $18,084,112.51. This represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 103,590 shares of company stock worth $8,523,149. Corporate insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

C has been the topic of several recent analyst reports. Oppenheimer increased their target price on shares of Citigroup from $91.00 to $94.00 and gave the company an "outperform" rating in a research note on Monday. Evercore ISI reduced their price objective on shares of Citigroup from $79.00 to $76.00 and set an "in-line" rating on the stock in a research report on Tuesday, April 1st. Barclays upgraded Citigroup from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Royal Bank of Canada reduced their price target on Citigroup from $85.00 to $78.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. Finally, Truist Financial decreased 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. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Citigroup presently has a consensus rating of "Moderate Buy" and an average price target of $84.04.

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.