APG Asset Management N.V. Takes $71.53 Million Position in Citigroup Inc. (NYSE:C)

APG Asset Management N.V. acquired a new stake in Citigroup Inc. (NYSE:C - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,052,200 shares of the company's stock, valued at approximately $71,525,000. APG Asset Management N.V. owned 0.06% of Citigroup at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in C. Greenland Capital Management LP bought a new stake in shares of Citigroup in the 4th quarter worth approximately $704,000. Elgethun Capital Management raised its stake in shares of Citigroup by 102.5% in the fourth quarter. Elgethun Capital Management now owns 158,599 shares of the company's stock valued at $11,164,000 after buying an additional 80,271 shares during the period. Twin Capital Management Inc. lifted its position in shares of Citigroup by 2.7% during the 4th quarter. Twin Capital Management Inc. now owns 64,895 shares of the company's stock valued at $4,568,000 after buying an additional 1,710 shares during the last quarter. Invesco Ltd. grew its stake in shares of Citigroup by 13.8% during the 4th quarter. Invesco Ltd. now owns 16,247,095 shares of the company's stock worth $1,143,633,000 after acquiring an additional 1,970,300 shares during the period. Finally, Cerity Partners LLC increased its holdings in Citigroup by 2.7% in the 4th quarter. Cerity Partners LLC now owns 883,960 shares of the company's stock worth $58,309,000 after acquiring an additional 23,053 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Price Performance

Shares of NYSE C traded up $0.14 during midday trading on Friday, hitting $61.73. 24,756,920 shares of the company's stock were exchanged, compared to its average volume of 14,432,164. 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 business's fifty day moving average price is $72.91 and its two-hundred day moving average price is $70.94. The company has a market cap of $116.19 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 0.64 and a beta of 1.29. 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 released its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business had revenue of $19.58 billion during the quarter, compared to analysts' expectations of $19.51 billion. During the same quarter in the previous year, the company earned $0.84 EPS. The business's quarterly revenue was up 12.3% compared to the same quarter last year. As a group, research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

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 paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.63%. The ex-dividend date is Monday, May 5th. Citigroup's dividend payout ratio (DPR) is currently 37.65%.

Citigroup announced that its Board of Directors has initiated a share repurchase 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 generally an indication that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on C shares. Barclays upgraded shares of Citigroup from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Morgan Stanley reduced their price objective on shares of Citigroup from $110.00 to $109.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Piper Sandler restated an "overweight" rating and set a $83.00 target price (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Evercore ISI cut their price target on Citigroup from $79.00 to $76.00 and set an "in-line" rating for the company in a report on Tuesday, April 1st. Finally, Oppenheimer decreased their price objective on Citigroup from $110.00 to $102.00 and set an "outperform" rating on the stock in a research note on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $84.54.

Insider Transactions at Citigroup

In other news, insider Sara Wechter sold 15,125 shares of Citigroup stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the completion of the transaction, the insider now directly owns 109,780 shares in the company, valued at approximately $8,893,277.80. This trade represents a 12.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Mason sold 58,465 shares of the company's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $83.21, for a total value of $4,864,872.65. Following the completion of the transaction, the chief financial officer now directly owns 217,331 shares in the company, valued at $18,084,112.51. This trade represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is currently owned by corporate insiders.

Citigroup Company Profile

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.