MML Investors Services LLC Boosts Stock Holdings in Citigroup Inc. (NYSE:C)

MML Investors Services LLC increased its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 3.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 255,485 shares of the company's stock after buying an additional 8,107 shares during the quarter. MML Investors Services LLC's holdings in Citigroup were worth $17,984,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisory Resource Group raised its stake in Citigroup by 3.7% during the third quarter. Advisory Resource Group now owns 72,947 shares of the company's stock worth $4,566,000 after acquiring an additional 2,590 shares during the period. Te Ahumairangi Investment Management Ltd raised its holdings in Citigroup by 6.7% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 202,691 shares of the company's stock worth $12,617,000 after buying an additional 12,810 shares during the period. Anchor Investment Management LLC raised its stake in Citigroup by 24.4% during the 3rd quarter. Anchor Investment Management LLC now owns 2,557 shares of the company's stock valued at $160,000 after purchasing an additional 501 shares during the period. World Investment Advisors LLC increased its stake in shares of Citigroup by 36.6% in the third quarter. World Investment Advisors LLC now owns 21,527 shares of the company's stock worth $1,348,000 after acquiring an additional 5,763 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB raised its position in Citigroup by 432.6% during the third quarter. Wilmington Savings Fund Society FSB now owns 38,191 shares of the company's stock valued at $2,391,000 after acquiring an additional 31,020 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company's stock.

Insider Activity

In related news, COO Anand Selvakesari sold 30,000 shares of the firm's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.10, for a total value of $2,433,000.00. Following the completion of the transaction, the chief operating officer now owns 229,180 shares in the company, valued at $18,586,498. This trade represents a 11.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sara Wechter sold 15,125 shares of the stock in a transaction dated 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 103,590 shares of company stock valued at $8,523,149. Corporate insiders own 0.08% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on C shares. StockNews.com cut Citigroup from a "buy" rating to a "hold" rating in a research report on Sunday, March 30th. Royal Bank of Canada decreased their price objective on Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. Piper Sandler reiterated an "overweight" rating and issued a $77.00 price objective (down previously from $83.00) on shares of Citigroup in a research note on Wednesday, April 16th. The Goldman Sachs Group decreased their price target on Citigroup from $90.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, March 19th. Finally, Barclays raised shares of Citigroup from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $84.61.

Citigroup Price Performance

Shares of NYSE:C traded up $1.84 during midday trading on Wednesday, reaching $66.39. 17,232,425 shares of the company were exchanged, compared to its average volume of 14,421,068. 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 has a market cap of $124.96 billion, a PE ratio of 11.16, a price-to-earnings-growth ratio of 0.64 and a beta of 1.29. The business's fifty day moving average is $70.40 and its two-hundred day moving average is $71.01. 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 announced its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.12. The company had revenue of $21.60 billion during the quarter, compared to analyst estimates of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. As a group, analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

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

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be paid a $0.56 dividend. The ex-dividend date is Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a yield of 3.37%. Citigroup's dividend payout ratio is currently 35.39%.

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.