Price T Rowe Associates Inc. MD Purchases 815,003 Shares of Citigroup Inc. (NYSE:C)

Price T Rowe Associates Inc. MD increased its holdings in Citigroup Inc. (NYSE:C - Free Report) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,561,690 shares of the company's stock after acquiring an additional 815,003 shares during the quarter. Price T Rowe Associates Inc. MD owned about 2.04% of Citigroup worth $2,714,359,000 as of its most recent filing with the Securities & Exchange Commission.

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

Citigroup Price Performance

Shares of C stock traded up $0.31 during mid-day trading on Friday, hitting $68.47. The company had a trading volume of 12,248,567 shares, compared to its average volume of 14,426,597. The company has a market capitalization of $128.88 billion, a P/E ratio of 11.51, a P/E/G ratio of 0.64 and a beta of 1.29. The stock's 50 day moving average price is $69.70 and its 200-day moving average price is $71.01. Citigroup Inc. has a 52-week low of $53.51 and a 52-week high of $84.74. 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 (NYSE:C - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.84 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business had revenue of $21.60 billion during the quarter, compared to the consensus estimate of $21.34 billion. Equities research analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The company also recently disclosed 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. This represents a $2.24 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup's payout ratio is 35.39%.

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on C. Truist Financial lowered their price target on Citigroup from $84.00 to $79.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. StockNews.com cut Citigroup from a "buy" rating to a "hold" rating in a research report on Sunday, March 30th. Evercore ISI reduced their target price on Citigroup from $79.00 to $76.00 and set an "in-line" rating for the company in a report on Tuesday, April 1st. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $92.00 price objective (down from $96.00) on shares of Citigroup in a research report on Wednesday, April 16th. Finally, Morgan Stanley decreased their target price on Citigroup from $110.00 to $109.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $84.61.

Insider Transactions at Citigroup

In related news, 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 owns 109,780 shares of the company's stock, valued at approximately $8,893,277.80. This trade represents a 12.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Anand Selvakesari sold 30,000 shares of the business's stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 229,180 shares in the company, valued at $18,586,498. The trade was a 11.57 % decrease in their ownership of the stock. 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 ninety days. Corporate insiders own 0.08% of the company's stock.

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.