Citigroup Inc. (NYSE:C) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its stake in Citigroup Inc. (NYSE:C - Free Report) by 8.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,317,586 shares of the company's stock after selling 296,810 shares during the quarter. California Public Employees Retirement System owned approximately 0.18% of Citigroup worth $233,525,000 at the end of the most recent reporting period.

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

Citigroup Trading Down 10.7 %

Shares of NYSE:C traded down $7.71 during mid-day trading on Thursday, reaching $64.05. 16,889,511 shares of the company were exchanged, compared to its average volume of 13,823,514. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The firm's 50-day simple moving average is $76.46 and its 200 day simple moving average is $71.01. The firm has a market cap of $120.55 billion, a price-to-earnings ratio of 10.76, a P/E/G ratio of 0.64 and a beta of 1.43.

Remove Ads

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 the consensus estimate of $1.22 by $0.12. The business had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The company's quarterly revenue was up 12.3% on a year-over-year basis. During the same period last year, the business posted $0.84 earnings per share. Equities research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup declared that its Board of Directors has initiated a share repurchase program on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to reacquire up to 13.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were paid a dividend of $0.56 per share. The ex-dividend date was Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 3.50%. Citigroup's dividend payout ratio (DPR) is presently 37.65%.

Insider Transactions at Citigroup

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the company's 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 in the company, valued at $18,084,112.51. This represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.10, for a total value of $2,433,000.00. Following the completion of the transaction, the chief operating officer now owns 229,180 shares of the company's stock, valued at $18,586,498. The trade was a 11.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,590 shares of company stock valued at $8,523,149. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Evercore ISI dropped their price target on Citigroup from $79.00 to $76.00 and set an "in-line" rating for the company in a research report on Tuesday. Barclays raised Citigroup from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. StockNews.com cut shares of Citigroup from a "buy" rating to a "hold" rating in a research report on Sunday. JPMorgan Chase & Co. cut their price objective on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating for the company in a research report on Thursday. Finally, Morgan Stanley reduced their target price on shares of Citigroup from $110.00 to $109.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Citigroup has a consensus rating of "Moderate Buy" and an average target price of $83.30.

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.