Northern Trust Corp Has $1.42 Billion Stake in Citigroup Inc. (NYSE:C)

Northern Trust Corp boosted its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 13.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,232,550 shares of the company's stock after acquiring an additional 2,467,958 shares during the period. Northern Trust Corp owned 1.07% of Citigroup worth $1,424,169,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in C. Core Alternative Capital raised its holdings in shares of Citigroup by 83.4% during the 4th quarter. Core Alternative Capital now owns 376 shares of the company's stock worth $26,000 after buying an additional 171 shares in the last quarter. Webster Bank N. A. raised its stake in Citigroup by 150.0% during the fourth quarter. Webster Bank N. A. now owns 500 shares of the company's stock worth $35,000 after acquiring an additional 300 shares in the last quarter. Creative Capital Management Investments LLC bought a new position in shares of Citigroup in the fourth quarter worth about $35,000. Sierra Ocean LLC acquired a new stake in shares of Citigroup in the 4th quarter valued at approximately $37,000. Finally, Runnymede Capital Advisors Inc. bought a new stake in shares of Citigroup during the 4th quarter valued at approximately $39,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Stock Up 0.5 %

Shares of NYSE:C opened at $68.47 on Monday. The business's 50-day moving average is $69.38 and its 200-day moving average is $71.15. The company has a market capitalization of $128.88 billion, a price-to-earnings ratio of 11.51, a P/E/G ratio of 0.64 and a beta of 1.29. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.12. The firm had revenue of $21.60 billion during the quarter, compared to analysts' expectations of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Equities research analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

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

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Monday, May 5th. Citigroup's dividend payout ratio (DPR) is presently 35.39%.

Insiders Place Their Bets

In related news, insider Sara Wechter sold 15,125 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total value of $1,225,276.25. Following the transaction, the insider now owns 109,780 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $83.21, for a total value of $4,864,872.65. Following the completion of the sale, the chief financial officer now directly owns 217,331 shares of the company's stock, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,590 shares of company stock valued at $8,523,149 in the last three months. 0.08% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. StockNews.com cut shares of Citigroup from a "buy" rating to a "hold" rating in a research note on Sunday, March 30th. Barclays upgraded Citigroup from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $92.00 price target (down from $96.00) on shares of Citigroup in a research note on Wednesday, April 16th. Truist Financial lowered their price objective on Citigroup from $84.00 to $79.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Finally, Royal Bank of Canada cut their target price on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Citigroup presently has a consensus rating of "Moderate Buy" and an average price target of $84.61.

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.

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