Zacks Investment Management decreased its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 2.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 501,088 shares of the company's stock after selling 11,736 shares during the quarter. Zacks Investment Management's holdings in Citigroup were worth $35,272,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. Advisory Resource Group raised its stake in shares of Citigroup by 3.7% during the third quarter. Advisory Resource Group now owns 72,947 shares of the company's stock worth $4,566,000 after buying an additional 2,590 shares during the last quarter. Te Ahumairangi Investment Management Ltd grew its holdings in Citigroup by 6.7% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 202,691 shares of the company's stock worth $12,617,000 after acquiring an additional 12,810 shares during the period. Anchor Investment Management LLC lifted its stake 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 purchasing an additional 501 shares during the period. World Investment Advisors LLC boosted its position in shares of Citigroup by 36.6% in the 3rd quarter. World Investment Advisors LLC now owns 21,527 shares of the company's stock worth $1,348,000 after purchasing an additional 5,763 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its position 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 worth $2,391,000 after purchasing an additional 31,020 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on C. Oppenheimer cut their target price on Citigroup from $110.00 to $102.00 and set an "outperform" rating on the stock in a research note on Friday, January 3rd. Piper Sandler reaffirmed an "overweight" rating and issued a $77.00 price target (down from $83.00) on shares of Citigroup in a research note on Wednesday. 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 note on Tuesday, April 1st. Truist Financial reduced their price target on shares of Citigroup from $84.00 to $79.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, Bank of America dropped their price objective on Citigroup from $90.00 to $89.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $84.61.
Read Our Latest Stock Report on C
Insider Buying and Selling at Citigroup
In other Citigroup news, insider Sara Wechter sold 15,125 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the transaction, the insider now owns 109,780 shares of the company's stock, valued at $8,893,277.80. The trade was a 12.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 217,331 shares of the company's stock, valued at $18,084,112.51. This represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 103,590 shares of company stock worth $8,523,149 over the last ninety days. 0.08% of the stock is currently owned by corporate insiders.
Citigroup Stock Up 1.8 %
Shares of C stock traded up $1.13 during trading on Friday, reaching $63.23. The company's stock had a trading volume of 14,653,830 shares, compared to its average volume of 14,424,032. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74. The business has a fifty day moving average price of $71.12 and a 200-day moving average price of $70.98. The company has a market cap of $119.01 billion, a price-to-earnings ratio of 10.63, a price-to-earnings-growth ratio of 0.64 and a beta of 1.29. 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 (NYSE:C - Get Free Report) last issued its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.84 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm had revenue of $21.60 billion for the quarter, compared to analysts' expectations of $21.34 billion. Analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.
Citigroup Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be given a dividend of $0.56 per share. The ex-dividend date is Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 3.54%. Citigroup's dividend payout ratio (DPR) is presently 35.39%.
Citigroup declared that its board has approved a stock buyback plan on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.
About Citigroup
(
Free Report)
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.
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