Nexus Investment Management ULC Decreases Position in Citigroup Inc. (NYSE:C)

Nexus Investment Management ULC lessened its stake in Citigroup Inc. (NYSE:C - Free Report) by 4.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 500,670 shares of the company's stock after selling 22,000 shares during the quarter. Citigroup accounts for approximately 3.5% of Nexus Investment Management ULC's portfolio, making the stock its 12th biggest position. Nexus Investment Management ULC's holdings in Citigroup were worth $35,242,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC lifted its stake in Citigroup by 2.0% during the third quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company's stock worth $2,492,238,000 after purchasing an additional 791,758 shares during the last quarter. Franklin Resources Inc. lifted its stake in Citigroup by 18.5% during the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company's stock worth $1,998,976,000 after purchasing an additional 4,680,713 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Citigroup by 3.2% during the third quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company's stock worth $1,813,544,000 after purchasing an additional 911,694 shares during the last quarter. Legal & General Group Plc lifted its stake in Citigroup by 5.5% during the second quarter. Legal & General Group Plc now owns 17,428,251 shares of the company's stock worth $1,105,999,000 after purchasing an additional 913,231 shares during the last quarter. Finally, Greenhaven Associates Inc. lifted its stake in Citigroup by 1.5% during the third quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company's stock worth $1,056,900,000 after purchasing an additional 242,545 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Oppenheimer decreased their target price on Citigroup from $110.00 to $102.00 and set an "outperform" rating for the company in a research note on Friday, January 3rd. Evercore ISI lifted their price target on Citigroup from $69.00 to $79.00 and gave the stock an "in-line" rating in a research report on Thursday. Bank of America lifted their price target on Citigroup from $90.00 to $95.00 and gave the stock a "buy" rating in a research report on Tuesday, January 7th. Barclays raised Citigroup from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $83.00 price target (up previously from $80.00) on shares of Citigroup in a research report on Thursday. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, Citigroup currently has an average rating of "Moderate Buy" and a consensus target price of $83.93.

Citigroup Stock Performance

Shares of NYSE:C traded up $1.54 during trading on Friday, reaching $80.05. The company had a trading volume of 22,070,430 shares, compared to its average volume of 10,393,282. The firm has a market capitalization of $151.40 billion, a price-to-earnings ratio of 23.20, a price-to-earnings-growth ratio of 0.59 and a beta of 1.43. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. The stock's fifty day moving average price is $71.22 and its 200 day moving average price is $65.53. Citigroup Inc. has a fifty-two week low of $50.51 and a fifty-two week high of $80.45.

Citigroup (NYSE:C - Get Free Report) last released its 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 6.19% and a net margin of 4.70%. The business had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. During the same quarter in the previous year, the company posted $0.84 earnings per share. The company's revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, equities research analysts predict that Citigroup Inc. will post 5.88 EPS for the current year.

Citigroup declared that its Board of Directors has authorized a share buyback program on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 13.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Monday, February 3rd. Citigroup's dividend payout ratio is presently 64.93%.

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.