American Century Companies Inc. Has $24.84 Million Stake in Citigroup Inc. (NYSE:C)

American Century Companies Inc. boosted its stake in Citigroup Inc. (NYSE:C - Free Report) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 352,948 shares of the company's stock after purchasing an additional 11,674 shares during the period. American Century Companies Inc.'s holdings in Citigroup were worth $24,844,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Brookstone Capital Management lifted its position in shares of Citigroup by 340.6% during the fourth quarter. Brookstone Capital Management now owns 36,034 shares of the company's stock worth $2,536,000 after purchasing an additional 27,856 shares in the last quarter. Inspire Trust Co. N.A. lifted its holdings in Citigroup by 34.8% in the 3rd quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company's stock worth $4,852,000 after buying an additional 20,000 shares in the last quarter. FNY Investment Advisers LLC boosted its position in Citigroup by 168.7% in the 4th quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company's stock valued at $1,376,000 after buying an additional 12,280 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of Citigroup by 2.4% during the third quarter. HighTower Advisors LLC now owns 354,294 shares of the company's stock valued at $22,236,000 after acquiring an additional 8,301 shares in the last quarter. Finally, Candriam S.C.A. increased its position in shares of Citigroup by 12.7% during the fourth quarter. Candriam S.C.A. now owns 200,860 shares of the company's stock worth $14,139,000 after acquiring an additional 22,657 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

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Citigroup Stock Performance

Shares of NYSE C traded up $0.78 during midday trading on Wednesday, reaching $71.32. 5,589,236 shares of the company traded hands, compared to its average volume of 15,687,906. Citigroup Inc. has a 52 week low of $53.51 and a 52 week 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 company has a market cap of $134.24 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 0.64 and a beta of 1.43. The stock has a 50-day moving average price of $76.66 and a 200 day moving average price of $71.00.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) 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 firm had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same period last year, the company posted $0.84 EPS. The firm's quarterly revenue was up 12.3% on a year-over-year basis. Sell-side analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup declared that its board has initiated 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 reacquire up to 13.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were issued a $0.56 dividend. The ex-dividend date was Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 3.14%. Citigroup's dividend payout ratio is currently 37.65%.

Insider Activity

In other news, CFO Mark Mason sold 58,465 shares of the firm's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the transaction, the chief financial officer now owns 217,331 shares in the company, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their position. The transaction 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 business's stock in a transaction dated 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 sale, the insider now directly owns 109,780 shares of the company's stock, valued at $8,893,277.80. This represents a 12.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 103,590 shares of company stock worth $8,523,149. Insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on C. The Goldman Sachs Group dropped their price target on shares of Citigroup from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, March 19th. Oppenheimer cut their target price on shares of Citigroup from $110.00 to $102.00 and set an "outperform" rating on the stock in a research note on Friday, January 3rd. Truist Financial assumed coverage on Citigroup in a research note on Tuesday, January 7th. They issued a "buy" rating and a $85.00 price target for the company. Evercore ISI cut their price objective on Citigroup from $79.00 to $76.00 and set an "in-line" rating on the stock in a research note on Tuesday. Finally, Keefe, Bruyette & Woods lifted their target price on Citigroup from $85.00 to $92.00 and gave the stock an "outperform" rating in a research report on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $83.86.

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.