Federated Hermes Inc. Cuts Stake in Citigroup Inc. (NYSE:C)

Federated Hermes Inc. lowered its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 449,869 shares of the company's stock after selling 11,375 shares during the quarter. Federated Hermes Inc.'s holdings in Citigroup were worth $31,666,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of C. Aster Capital Management DIFC Ltd increased its position in shares of Citigroup by 1,316.1% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 10,961 shares of the company's stock valued at $772,000 after purchasing an additional 10,187 shares during the last quarter. Waterloo Capital L.P. purchased a new position in Citigroup in the fourth quarter valued at about $223,000. Quadrant Capital Group LLC boosted its stake in Citigroup by 5.9% in the fourth quarter. Quadrant Capital Group LLC now owns 8,322 shares of the company's stock valued at $586,000 after acquiring an additional 461 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co bought a new position in shares of Citigroup during the 4th quarter valued at approximately $16,612,000. Finally, Russell Investments Group Ltd. grew its holdings in Citigroup by 2.0% during the fourth quarter. Russell Investments Group Ltd. now owns 5,031,791 shares of the company's stock valued at $354,188,000 after purchasing an additional 97,786 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Price Performance

NYSE C traded down $0.61 during trading hours on Friday, reaching $60.99. 9,350,183 shares of the stock traded hands, compared to its average volume of 14,387,166. 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 stock has a 50 day simple moving average of $73.24 and a two-hundred day simple moving average of $70.93. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The company has a market cap of $114.78 billion, a price-to-earnings ratio of 10.23, 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 announced its quarterly earnings data 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 net margin of 7.43% and a return on equity of 6.62%. The company had revenue of $19.58 billion during the quarter, compared to analysts' expectations of $19.51 billion. During the same quarter in the prior year, the company earned $0.84 EPS. The firm's revenue was up 12.3% on a year-over-year basis. On average, analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The business 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 $0.56 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 3.67%. Citigroup's payout ratio is currently 37.65%.

Citigroup announced that its Board of Directors has approved a share repurchase program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 13.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on C shares. Evercore ISI dropped their price target on Citigroup from $79.00 to $76.00 and set an "in-line" rating on the stock in a research report on Tuesday, April 1st. JPMorgan Chase & Co. lowered their price target on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Piper Sandler reaffirmed an "overweight" rating and issued a $83.00 price objective (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Keefe, Bruyette & Woods raised their price target on Citigroup from $85.00 to $92.00 and gave the stock an "outperform" rating in a report on Thursday, January 16th. Finally, StockNews.com cut Citigroup from a "buy" rating to a "hold" rating in a report on Sunday, March 30th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Citigroup presently has an average rating of "Moderate Buy" and an average target price of $84.54.

Insider Transactions at Citigroup

In related news, insider Sara Wechter sold 15,125 shares of the business's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the transaction, the insider now owns 109,780 shares in the company, valued at $8,893,277.80. The trade was a 12.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Anand Selvakesari sold 30,000 shares of the company's 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 $18,586,498. This trade represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 103,590 shares of company stock worth $8,523,149. Insiders own 0.08% of the company's stock.

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.