Pinebridge Investments L.P. Has $59.34 Million Holdings in Citigroup Inc. (NYSE:C)

Pinebridge Investments L.P. boosted its position in Citigroup Inc. (NYSE:C - Free Report) by 175.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 843,050 shares of the company's stock after buying an additional 537,110 shares during the quarter. Pinebridge Investments L.P.'s holdings in Citigroup were worth $59,342,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Core Alternative Capital lifted its position in Citigroup by 83.4% in the fourth quarter. Core Alternative Capital now owns 376 shares of the company's stock worth $26,000 after purchasing an additional 171 shares during the period. Webster Bank N. A. lifted 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 purchasing an additional 300 shares during the period. Creative Capital Management Investments LLC bought a new stake in shares of Citigroup in the 4th quarter valued at approximately $35,000. Sierra Ocean LLC bought a new stake in shares of Citigroup in the 4th quarter worth about $37,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in Citigroup in the fourth quarter worth $39,000. Institutional investors own 71.72% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on C shares. Barclays upgraded shares of 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. Morgan Stanley cut their price target on shares of Citigroup from $110.00 to $109.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Piper Sandler restated an "overweight" rating and set a $77.00 price objective (down previously from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. Oppenheimer cut their target price on shares of Citigroup from $110.00 to $102.00 and set an "outperform" rating on the stock in a report on Friday, January 3rd. Finally, Truist Financial lowered their price objective on shares of Citigroup from $84.00 to $79.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $84.61.

Insider Activity at Citigroup

In other Citigroup news, 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 transaction, the insider now directly owns 109,780 shares in the company, valued at $8,893,277.80. The trade was 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 available at this hyperlink. Also, COO Anand Selvakesari sold 30,000 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.10, for a total transaction 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 approximately $18,586,498. This trade represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 103,590 shares of company stock worth $8,523,149. Insiders own 0.08% of the company's stock.

Citigroup Stock Up 0.5 %

Shares of NYSE C traded up $0.31 during midday trading on Friday, reaching $68.47. The company's stock had a trading volume of 12,248,567 shares, compared to its average volume of 14,426,597. The stock has a 50 day simple moving average of $69.70 and a 200-day simple moving average of $71.01. 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 capitalization of $128.88 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 0.64 and a beta of 1.29. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74.

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

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be issued a $0.56 dividend. The ex-dividend date is Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.27%. Citigroup's payout ratio is 35.39%.

Citigroup announced that its board has authorized a share buyback program on Wednesday, January 15th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the company to reacquire up to 13.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board believes its shares are undervalued.

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.