Brandywine Global Investment Management LLC Trims Stock Holdings in Citigroup Inc. (NYSE:C)

Brandywine Global Investment Management LLC trimmed its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,089,244 shares of the company's stock after selling 32,063 shares during the period. Citigroup makes up about 2.1% of Brandywine Global Investment Management LLC's investment portfolio, making the stock its 3rd largest holding. Brandywine Global Investment Management LLC owned 0.22% of Citigroup worth $287,842,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Core Alternative Capital raised its stake in Citigroup by 83.4% during the 4th quarter. Core Alternative Capital now owns 376 shares of the company's stock valued at $26,000 after buying an additional 171 shares during the last quarter. Legacy Investment Solutions LLC purchased a new position in Citigroup in the third quarter worth about $31,000. Webster Bank N. A. grew its stake in shares of Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company's stock valued at $35,000 after purchasing an additional 300 shares during the period. Creative Capital Management Investments LLC purchased a new stake in shares of Citigroup during the 4th quarter valued at about $35,000. Finally, Sierra Ocean LLC bought a new position in shares of Citigroup in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 71.72% of the company's stock.

Insider Transactions at Citigroup

In related news, COO Anand Selvakesari sold 30,000 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.10, for a total value of $2,433,000.00. Following the sale, the chief operating officer now owns 229,180 shares of the company's stock, valued at approximately $18,586,498. This represents a 11.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 transaction of $4,864,872.65. Following the sale, the chief financial officer now owns 217,331 shares of the company's stock, valued at approximately $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 valued at $8,523,149. Insiders own 0.08% of the company's stock.

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Analyst Ratings Changes

Several research analysts have recently weighed in on C shares. Piper Sandler reiterated an "overweight" rating and set a $83.00 price target (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Truist Financial initiated coverage on shares of Citigroup in a report on Tuesday, January 7th. They issued a "buy" rating and a $85.00 target price for the company. Oppenheimer lowered their price objective on Citigroup from $110.00 to $102.00 and set an "outperform" rating on the stock in a research report on Friday, January 3rd. The Goldman Sachs Group reduced their price objective on shares of Citigroup from $90.00 to $80.00 and set a "buy" rating on the stock in a research report on Wednesday, March 19th. Finally, Keefe, Bruyette & Woods raised their price target on Citigroup from $85.00 to $92.00 and gave the company an "outperform" rating in a report on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Citigroup presently has a consensus rating of "Moderate Buy" and an average price target of $84.29.

Citigroup Price Performance

Shares of Citigroup stock traded down $0.51 on Tuesday, hitting $70.48. 10,926,347 shares of the company were exchanged, compared to its average volume of 13,829,567. 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 stock has a market capitalization of $132.66 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. The company has a 50-day moving average price of $76.88 and a 200 day moving average price of $70.91.

Citigroup (NYSE:C - Get Free Report) last posted its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating 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 company had revenue of $19.58 billion for the quarter, compared to analysts' expectations of $19.51 billion. During the same quarter in the prior year, the company posted $0.84 earnings per share. Citigroup's revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, sell-side analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup declared that its board has approved a stock repurchase program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes 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 board believes its stock is undervalued.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were paid a $0.56 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 3.18%. Citigroup's dividend payout ratio is currently 37.65%.

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.