KLP Kapitalforvaltning AS bought a new position in shares of Citigroup Inc. (NYSE:C - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 879,941 shares of the company's stock, valued at approximately $61,939,000.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Franklin Resources Inc. boosted its position in shares of Citigroup by 18.5% in the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company's stock worth $1,998,976,000 after buying an additional 4,680,713 shares in the last quarter. Swedbank AB raised its position in shares of Citigroup by 90.2% in the 4th quarter. Swedbank AB now owns 8,326,745 shares of the company's stock worth $586,120,000 after buying an additional 3,947,912 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Citigroup during the 4th quarter worth about $198,231,000. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Citigroup by 70.0% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company's stock valued at $283,692,000 after acquiring an additional 1,865,628 shares during the period. Finally, Nordea Investment Management AB lifted its stake in shares of Citigroup by 32.2% during the fourth quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company's stock worth $501,994,000 after purchasing an additional 1,731,527 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.
Citigroup Price Performance
Shares of NYSE:C traded up $0.00 during trading on Tuesday, reaching $74.04. The company had a trading volume of 4,640,063 shares, compared to its average volume of 13,304,832. The firm's fifty day moving average is $77.48 and its 200 day moving average is $70.42. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $139.53 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74.
Citigroup (NYSE:C - Get Free Report) last released its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping 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 firm had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same period in the prior year, the firm posted $0.84 earnings per share. The firm's revenue for the quarter was up 12.3% compared to the same quarter last year. On average, equities analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.
Citigroup Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date was Monday, February 3rd. Citigroup's payout ratio is currently 37.65%.
Citigroup announced that its board has initiated a share buyback plan on Wednesday, January 15th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.
Analyst Ratings Changes
Several equities research analysts recently issued reports on C shares. Keefe, Bruyette & Woods lifted their price target on shares of Citigroup from $85.00 to $92.00 and gave the stock an "outperform" rating in a research note on Thursday, January 16th. The Goldman Sachs Group dropped their price target on Citigroup from $90.00 to $80.00 and set a "buy" rating on the stock in a research report on Wednesday, March 19th. Evercore ISI boosted their price objective on Citigroup from $69.00 to $79.00 and gave the company an "in-line" rating in a research report on Thursday, January 16th. Morgan Stanley lowered their price objective on Citigroup from $110.00 to $109.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Finally, Barclays upgraded Citigroup from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Citigroup presently has an average rating of "Moderate Buy" and a consensus target price of $83.53.
Read Our Latest Stock Report on C
Insiders Place Their Bets
In other news, COO Anand Selvakesari sold 30,000 shares of the business's 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. The trade was a 11.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sara Wechter sold 15,125 shares of the company's stock in a transaction 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 sale, the insider now directly owns 109,780 shares of the company's stock, valued at approximately $8,893,277.80. This represents a 12.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is owned by corporate insiders.
About Citigroup
(
Free Report)
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.
Read More
Before you consider Citigroup, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Citigroup wasn't on the list.
While Citigroup currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
