Citigroup Inc. (NYSE:C) Shares Bought by Donald Smith & CO. Inc.

Donald Smith & CO. Inc. raised its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,305,083 shares of the company's stock after purchasing an additional 26,463 shares during the quarter. Citigroup accounts for 2.2% of Donald Smith & CO. Inc.'s portfolio, making the stock its 18th largest position. Donald Smith & CO. Inc. owned approximately 0.07% of Citigroup worth $91,865,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Huber Capital Management LLC increased its stake in shares of Citigroup by 3.4% in the fourth quarter. Huber Capital Management LLC now owns 243,816 shares of the company's stock worth $17,162,000 after acquiring an additional 8,000 shares during the period. Pitcairn Co. boosted its holdings in Citigroup by 8.8% in the fourth quarter. Pitcairn Co. now owns 53,035 shares of the company's stock valued at $3,733,000 after purchasing an additional 4,298 shares during the last quarter. Spahn Wealth & Retirement LLC acquired a new stake in Citigroup during the 4th quarter worth about $3,969,000. World Investment Advisors raised its stake in shares of Citigroup by 24.1% during the 4th quarter. World Investment Advisors now owns 26,706 shares of the company's stock valued at $1,880,000 after buying an additional 5,179 shares during the last quarter. Finally, OneAscent Financial Services LLC lifted its holdings in shares of Citigroup by 9.8% in the 4th quarter. OneAscent Financial Services LLC now owns 4,425 shares of the company's stock valued at $312,000 after buying an additional 395 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

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Citigroup Price Performance

Shares of NYSE C traded down $5.05 during midday trading on Friday, hitting $58.00. The stock had a trading volume of 51,682,961 shares, compared to its average volume of 14,047,362. 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 1 year low of $53.51 and a 1 year high of $84.74. The company has a market capitalization of $109.17 billion, a PE ratio of 9.75, a P/E/G ratio of 0.64 and a beta of 1.29. The stock has a 50 day simple moving average of $75.61 and a 200-day simple moving average of $71.03.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates of $1.22 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The company had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. During the same quarter last year, the firm posted $0.84 EPS. The firm's revenue for the quarter was up 12.3% on a year-over-year basis. On average, sell-side analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup announced that its board has initiated a stock buyback program on Wednesday, January 15th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the company to purchase up to 13.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 3.86%. Citigroup's dividend payout ratio is presently 37.65%.

Insider Buying and Selling at Citigroup

In other news, CFO Mark Mason sold 58,465 shares of the company's stock in a transaction that occurred on Friday, February 14th. The stock was 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 in the company, valued at $18,084,112.51. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Anand Selvakesari sold 30,000 shares of Citigroup 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 transaction, the chief operating officer now owns 229,180 shares in the company, valued at approximately $18,586,498. The trade was a 11.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,590 shares of company stock worth $8,523,149. Insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on C. Morgan Stanley dropped their target price on Citigroup from $110.00 to $109.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Evercore ISI dropped their price objective on shares of Citigroup from $79.00 to $76.00 and set an "in-line" rating on the stock in a research note on Tuesday, April 1st. JPMorgan Chase & Co. decreased their target price on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating for the company in a research note on Thursday. Bank of America dropped their price target on shares of Citigroup from $90.00 to $89.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, Oppenheimer decreased their price objective on shares of Citigroup from $110.00 to $102.00 and set an "outperform" rating for the company in a research report on Friday, January 3rd. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Citigroup has a consensus rating of "Moderate Buy" and a consensus price target of $83.23.

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.