Treasurer of the State of North Carolina Reduces Stake in Citigroup Inc. (NYSE:C)

Treasurer of the State of North Carolina cut its stake in Citigroup Inc. (NYSE:C - Free Report) by 0.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 854,291 shares of the company's stock after selling 6,760 shares during the period. Treasurer of the State of North Carolina's holdings in Citigroup were worth $60,134,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Continuum Advisory LLC lifted its holdings in shares of Citigroup by 5.6% in the 3rd quarter. Continuum Advisory LLC now owns 6,399 shares of the company's stock worth $436,000 after acquiring an additional 340 shares during the last quarter. Toronto Dominion Bank raised its position in Citigroup by 10.4% in the 3rd quarter. Toronto Dominion Bank now owns 1,094,872 shares of the company's stock worth $68,539,000 after purchasing an additional 102,806 shares during the period. Sunbelt Securities Inc. raised its position in Citigroup by 3.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 80,269 shares of the company's stock worth $5,025,000 after purchasing an additional 2,999 shares during the period. TD Private Client Wealth LLC lifted its stake in Citigroup by 3.4% in the third quarter. TD Private Client Wealth LLC now owns 39,412 shares of the company's stock worth $2,467,000 after purchasing an additional 1,307 shares during the last quarter. Finally, Soltis Investment Advisors LLC grew its stake in shares of Citigroup by 1.2% during the third quarter. Soltis Investment Advisors LLC now owns 112,424 shares of the company's stock valued at $7,038,000 after buying an additional 1,313 shares during the last quarter. Institutional investors own 71.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on C shares. Morgan Stanley lowered their target price on Citigroup from $110.00 to $109.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Piper Sandler reissued an "overweight" rating and set a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Bank of America cut their target price on shares of Citigroup from $90.00 to $89.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods upped their price target on shares of Citigroup from $85.00 to $92.00 and gave the company an "outperform" rating in a report on Thursday, January 16th. Finally, Evercore ISI cut 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. Four 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, Citigroup has an average rating of "Moderate Buy" and an average price target of $84.54.

Insider Activity at Citigroup

In related news, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction on Thursday, February 13th. The stock was 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 directly owns 229,180 shares of the company's stock, valued at $18,586,498. This trade represents a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction, the insider now directly owns 109,780 shares of the company's stock, valued at approximately $8,893,277.80. This trade represents a 12.11 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 103,590 shares of company stock valued at $8,523,149. 0.08% of the stock is owned by insiders.

Citigroup Stock Up 2.9 %

C traded up $1.79 during trading on Monday, reaching $63.43. The stock had a trading volume of 9,505,083 shares, compared to its average volume of 14,357,771. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The stock's 50 day moving average is $72.91 and its two-hundred day moving average is $71.01. The company has a market capitalization of $119.39 billion, a price-to-earnings ratio of 10.66, a P/E/G ratio of 0.64 and a beta of 1.29. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $19.51 billion. During the same quarter in the prior year, the business posted $0.84 EPS. The firm's quarterly revenue was up 12.3% compared to the same quarter last year. As a group, analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup's payout ratio is 37.65%.

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

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.