Citigroup Inc. (NYSE:C) Shares Sold by NFJ Investment Group LLC

NFJ Investment Group LLC lowered its position in Citigroup Inc. (NYSE:C - Free Report) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 322,501 shares of the company's stock after selling 4,092 shares during the period. NFJ Investment Group LLC's holdings in Citigroup were worth $22,701,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC increased its holdings in Citigroup by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company's stock worth $2,853,484,000 after acquiring an additional 667,357 shares in the last quarter. FMR LLC increased its stake in shares of Citigroup by 29.7% during the fourth quarter. FMR LLC now owns 34,362,176 shares of the company's stock worth $2,418,754,000 after purchasing an additional 7,863,718 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Citigroup by 9.3% during the 4th quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock worth $2,311,048,000 after purchasing an additional 2,804,850 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Citigroup by 3.6% in 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 acquired a new stake in Citigroup in the 4th quarter worth about $1,935,599,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on C shares. StockNews.com lowered Citigroup from a "buy" rating to a "hold" rating in a research note on Sunday, March 30th. Bank of America reduced their target price on shares of Citigroup from $90.00 to $89.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods restated an "outperform" rating and set a $92.00 price target (down from $96.00) on shares of Citigroup in a research report on Wednesday. Piper Sandler reiterated an "overweight" rating and issued a $77.00 price objective (down previously from $83.00) on shares of Citigroup in a report on Wednesday. Finally, The Goldman Sachs Group lowered their target price on Citigroup from $90.00 to $80.00 and set a "buy" rating on the stock in a report on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $84.61.

Citigroup Trading Up 1.8 %

Shares of Citigroup stock traded up $1.13 during trading hours on Friday, hitting $63.23. The company's stock had a trading volume of 14,653,830 shares, compared to its average volume of 14,424,032. The stock has a market cap of $119.01 billion, a price-to-earnings ratio of 10.63, a P/E/G ratio of 0.64 and a beta of 1.29. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. The firm has a fifty day moving average of $71.12 and a 200-day moving average of $71.05.

Citigroup (NYSE:C - Get Free Report) last posted its earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, beating 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 net margin of 7.43% and a return on equity of 6.62%. Research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be issued a $0.56 dividend. The ex-dividend date is Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 3.54%. Citigroup's dividend payout ratio (DPR) is presently 35.39%.

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

Insider Activity at Citigroup

In other news, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction dated 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 sale, the chief operating officer now owns 229,180 shares of the company's stock, valued at approximately $18,586,498. This represents 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 the SEC website. Also, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 217,331 shares of the company's stock, valued at $18,084,112.51. This trade represents a 21.20 % 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.

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.