Capital Group Investment Management PTE. LTD. Acquires 23,365 Shares of Citigroup Inc. (NYSE:C)

Capital Group Investment Management PTE. LTD. grew its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 148.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,125 shares of the company's stock after buying an additional 23,365 shares during the quarter. Capital Group Investment Management PTE. LTD.'s holdings in Citigroup were worth $2,754,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new position in Citigroup during the 4th quarter valued at approximately $1,935,599,000. FMR LLC increased its holdings in shares of Citigroup by 29.7% during the fourth quarter. FMR LLC now owns 34,362,176 shares of the company's stock valued at $2,418,754,000 after purchasing an additional 7,863,718 shares during the period. Franklin Resources Inc. lifted its holdings in Citigroup by 18.5% in the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company's stock worth $1,998,976,000 after purchasing an additional 4,680,713 shares during the period. Swedbank AB increased its stake in shares of Citigroup by 90.2% during the fourth quarter. Swedbank AB now owns 8,326,745 shares of the company's stock valued at $586,120,000 after acquiring an additional 3,947,912 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Citigroup during the fourth quarter worth about $198,231,000. Institutional investors own 71.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on C shares. StockNews.com cut Citigroup from a "buy" rating to a "hold" rating in a research report on Sunday, March 30th. Morgan Stanley cut their price target on shares of Citigroup from $110.00 to $109.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Oppenheimer dropped their price target on Citigroup from $110.00 to $102.00 and set an "outperform" rating for the company in a report on Friday, January 3rd. Royal Bank of Canada cut their price target on Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. Finally, Barclays upgraded Citigroup from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $84.61.

Citigroup Stock Up 3.3 %

Shares of C stock traded up $2.04 during trading on Tuesday, reaching $64.73. The company's stock had a trading volume of 3,657,146 shares, compared to its average volume of 17,817,189. Citigroup Inc. has a one year low of $53.51 and a one 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 moving average price of $70.75 and a 200-day moving average price of $71.05. The company has a market cap of $121.84 billion, a price-to-earnings ratio of 10.88, a price-to-earnings-growth ratio of 0.64 and a beta of 1.29.

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 analysts' consensus estimates of $1.84 by $0.12. The company had revenue of $21.60 billion for the quarter, compared to analysts' expectations of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date is Monday, May 5th. Citigroup's payout ratio is 35.39%.

Citigroup declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 13.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its shares are undervalued.

Insider Activity at Citigroup

In other Citigroup news, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction 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 sale, the chief financial officer now directly owns 217,331 shares of the company's stock, valued at approximately $18,084,112.51. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sara Wechter sold 15,125 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 109,780 shares in the company, valued at approximately $8,893,277.80. The trade was a 12.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,590 shares of company stock worth $8,523,149 over the last three months. Company insiders own 0.08% of the company's stock.

Citigroup 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.