Chiron Investment Management LLC Takes Position in Citigroup Inc. (NYSE:C)

Chiron Investment Management LLC acquired a new position in Citigroup Inc. (NYSE:C - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,402 shares of the company's stock, valued at approximately $803,000.

Other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Citigroup by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company's stock valued at $2,853,484,000 after acquiring an additional 667,357 shares during the period. FMR LLC grew its holdings in 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. increased its position in Citigroup by 9.3% in the fourth quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock worth $2,311,048,000 after buying an additional 2,804,850 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Citigroup by 3.6% during the 4th quarter. Fisher Asset Management LLC now owns 30,014,183 shares of the company's stock valued at $2,112,698,000 after buying an additional 1,043,826 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Citigroup during the 4th quarter valued at approximately $1,935,599,000. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Performance

Citigroup stock opened at $61.73 on Monday. 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 Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. The company's 50-day moving average price is $72.91 and its 200-day moving average price is $71.01. The company has a market cap of $116.19 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 0.64 and a beta of 1.29.

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Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating 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 revenue for the quarter was up 12.3% on a year-over-year basis. During the same period last year, the company earned $0.84 EPS. On average, equities research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup's dividend payout ratio (DPR) is 37.65%.

Citigroup announced that its board has authorized a stock buyback plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to buy up to 13.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on C shares. Evercore ISI lowered their price target on shares of Citigroup from $79.00 to $76.00 and set an "in-line" rating on the stock in a report on Tuesday, April 1st. Truist Financial lowered their target price on shares of Citigroup from $85.00 to $84.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. JPMorgan Chase & Co. decreased their price target on Citigroup from $85.50 to $75.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Keefe, Bruyette & Woods upped their price objective on Citigroup from $85.00 to $92.00 and gave the stock an "outperform" rating in a research note on Thursday, January 16th. Finally, Morgan Stanley decreased their target price on Citigroup from $110.00 to $109.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $84.54.

Insider Activity

In other news, COO Anand Selvakesari sold 30,000 shares of the business's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the completion of the sale, the chief operating officer now directly owns 229,180 shares of the company's stock, valued at approximately $18,586,498. The trade was a 11.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sara Wechter sold 15,125 shares of the firm's stock in a transaction dated 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 completion of the transaction, the insider now directly owns 109,780 shares in the company, valued at $8,893,277.80. This represents a 12.11 % 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 company insiders.

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.

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