Commonwealth of Pennsylvania Public School Empls Retrmt SYS Cuts Stake in Citigroup Inc. (NYSE:C)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its stake in Citigroup Inc. (NYSE:C - Free Report) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 402,140 shares of the company's stock after selling 13,169 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Citigroup were worth $28,307,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Swedbank AB grew its position in shares of Citigroup by 1.3% in the 3rd quarter. Swedbank AB now owns 4,378,833 shares of the company's stock worth $274,115,000 after buying an additional 54,782 shares during the period. Thrivent Financial for Lutherans boosted its stake in Citigroup by 2.4% during the third quarter. Thrivent Financial for Lutherans now owns 145,663 shares of the company's stock worth $9,118,000 after acquiring an additional 3,482 shares in the last quarter. Pathstone Holdings LLC boosted its stake in Citigroup by 2.8% during the third quarter. Pathstone Holdings LLC now owns 149,742 shares of the company's stock worth $9,374,000 after acquiring an additional 4,051 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Citigroup by 1.4% in the third quarter. PNC Financial Services Group Inc. now owns 373,148 shares of the company's stock worth $23,359,000 after purchasing an additional 5,303 shares during the period. Finally, Commerce Bank increased its stake in shares of Citigroup by 1.5% during the third quarter. Commerce Bank now owns 220,244 shares of the company's stock valued at $13,787,000 after purchasing an additional 3,290 shares in the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

C has been the topic of several recent research reports. Piper Sandler restated an "overweight" rating and issued a $83.00 price target (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Truist Financial started coverage on Citigroup in a research note on Tuesday, January 7th. They issued a "buy" rating and a $85.00 target price on the stock. Bank of America raised their price target on Citigroup from $90.00 to $95.00 and gave the company a "buy" rating in a report on Tuesday, January 7th. Evercore ISI upped their price target on shares of Citigroup from $69.00 to $79.00 and gave the stock an "in-line" rating in a research note on Thursday, January 16th. Finally, Morgan Stanley reduced their price objective on shares of Citigroup from $110.00 to $109.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $83.53.

Citigroup Stock Performance

Shares of C stock traded up $0.39 on Tuesday, reaching $74.43. The stock had a trading volume of 10,917,979 shares, compared to its average volume of 13,304,832. The stock has a market cap of $140.26 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. 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 1 year low of $53.51 and a 1 year high of $84.74. The company has a 50 day simple moving average of $77.48 and a 200 day simple moving average of $70.42.

Citigroup (NYSE:C - Get Free Report) last released 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 business had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same period in the previous year, the company posted $0.84 EPS. The business's quarterly revenue was up 12.3% compared to the same quarter last year. Equities research analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were given a $0.56 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 3.01%. Citigroup's payout ratio is presently 37.65%.

Citigroup declared that its Board of Directors has approved a stock buyback plan on Wednesday, January 15th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Insider Transactions at Citigroup

In other Citigroup news, insider Sara Wechter sold 15,125 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The shares were 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 in the company, valued at $8,893,277.80. This represents a 12.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 completion of the sale, the chief operating officer now directly owns 229,180 shares of the company's stock, valued at approximately $18,586,498. This trade represents a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 103,590 shares of company stock worth $8,523,149 in the last 90 days. 0.08% of the stock is currently owned by insiders.

About Citigroup

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.