Russell Investments Group Ltd. Boosts Position in Citigroup Inc. (NYSE:C)

Russell Investments Group Ltd. increased its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,031,791 shares of the company's stock after buying an additional 97,786 shares during the quarter. Citigroup comprises approximately 0.5% of Russell Investments Group Ltd.'s investment portfolio, making the stock its 21st biggest holding. Russell Investments Group Ltd. owned 0.27% of Citigroup worth $354,188,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in C. Benjamin Edwards Inc. grew its position in Citigroup by 1,188.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 11,561 shares of the company's stock worth $724,000 after purchasing an additional 10,664 shares during the period. Holocene Advisors LP acquired a new stake in Citigroup during the third quarter worth about $1,270,000. HighTower Advisors LLC grew its holdings in Citigroup by 2.4% during the third quarter. HighTower Advisors LLC now owns 354,294 shares of the company's stock worth $22,236,000 after acquiring an additional 8,301 shares during the period. Janus Henderson Group PLC raised its position in Citigroup by 280.2% during the third quarter. Janus Henderson Group PLC now owns 952,909 shares of the company's stock valued at $59,655,000 after acquiring an additional 702,300 shares in the last quarter. Finally, IHT Wealth Management LLC lifted its holdings in Citigroup by 41.9% in the third quarter. IHT Wealth Management LLC now owns 17,905 shares of the company's stock valued at $1,116,000 after acquiring an additional 5,285 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

C has been the subject of several analyst reports. Oppenheimer decreased their target price on shares of Citigroup from $110.00 to $102.00 and set an "outperform" rating for the company in a research note on Friday, January 3rd. Keefe, Bruyette & Woods raised their target price on Citigroup from $85.00 to $92.00 and gave the company an "outperform" rating in a research report on Thursday, January 16th. StockNews.com downgraded Citigroup from a "buy" rating to a "hold" rating in a research report on Sunday, March 30th. Piper Sandler restated an "overweight" rating and issued a $83.00 price objective (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group dropped their price target on shares of Citigroup from $90.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, March 19th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $84.54.

Citigroup Trading Down 2.9 %

C stock traded down $1.72 during trading on Wednesday, reaching $57.05. 13,014,538 shares of the stock were exchanged, compared to its average volume of 14,220,211. The business has a 50 day moving average price of $74.30 and a 200-day moving average price of $70.97. The firm has a market capitalization of $107.38 billion, a price-to-earnings ratio of 9.65, a P/E/G ratio of 0.64 and a beta of 1.29. The company has a current ratio of 0.96, a quick 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.

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

Citigroup Dividend Announcement

The company 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 dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date is Monday, May 5th. Citigroup's dividend payout ratio (DPR) is 37.65%.

Citigroup declared that its Board of Directors has approved a share repurchase program on Wednesday, January 15th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the company to buy up to 13.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Insider Activity at Citigroup

In other news, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction dated 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 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 transaction of $2,433,000.00. Following the sale, the chief operating officer now owns 229,180 shares in the company, valued at $18,586,498. The trade was a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 103,590 shares of company stock worth $8,523,149. Corporate 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.