Citigroup Inc. (NYSE:C) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC trimmed its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 11.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 474,285 shares of the company's stock after selling 61,475 shares during the quarter. Manning & Napier Advisors LLC's holdings in Citigroup were worth $33,385,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Swedbank AB boosted its holdings in shares of Citigroup by 90.2% in the 4th quarter. Swedbank AB now owns 8,326,745 shares of the company's stock valued at $586,120,000 after buying an additional 3,947,912 shares in the last quarter. Field & Main Bank grew its holdings in Citigroup by 12.7% in the fourth quarter. Field & Main Bank now owns 6,888 shares of the company's stock worth $485,000 after purchasing an additional 775 shares during the last quarter. Allen Capital Group LLC acquired a new position in shares of Citigroup during the fourth quarter worth $244,000. Forsta AP Fonden lifted its holdings in shares of Citigroup by 1.9% during the 4th quarter. Forsta AP Fonden now owns 441,200 shares of the company's stock valued at $31,056,000 after purchasing an additional 8,200 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Citigroup by 4.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,735,740 shares of the company's stock worth $122,179,000 after purchasing an additional 75,347 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Citigroup Stock Performance

NYSE C traded up $1.25 during mid-day trading on Thursday, reaching $81.88. 10,773,222 shares of the stock were exchanged, compared to its average volume of 17,233,314. Citigroup Inc. has a 1 year low of $52.24 and a 1 year high of $82.77. 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 business's 50 day moving average is $73.18 and its 200-day moving average is $66.42. The company has a market capitalization of $154.86 billion, a P/E ratio of 13.76, a P/E/G ratio of 0.65 and a beta of 1.43.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.12. The firm had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Citigroup's revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.84 EPS. On average, equities research analysts forecast that Citigroup Inc. will post 7.51 EPS for the current fiscal year.

Citigroup announced that its board has initiated a stock buyback program on Wednesday, January 15th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 13.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be paid a $0.56 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 2.74%. Citigroup's dividend payout ratio is currently 37.65%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Morgan Stanley upped their target price on Citigroup from $104.00 to $109.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. Evercore ISI increased their price objective on shares of Citigroup from $69.00 to $79.00 and gave the company an "in-line" rating in a research report on Thursday, January 16th. Piper Sandler reissued an "overweight" rating and set a $83.00 target price (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Wells Fargo & Company raised their price target on shares of Citigroup from $85.00 to $95.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Finally, Barclays raised shares of Citigroup from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $70.00 to $95.00 in a report on Monday, January 6th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Citigroup currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.93.

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.