Prudential Financial Inc. Increases Stock Holdings in Citigroup Inc. (NYSE:C)

Prudential Financial Inc. increased its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 34.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,214,204 shares of the company's stock after buying an additional 569,565 shares during the period. Prudential Financial Inc. owned 0.12% of Citigroup worth $155,858,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Core Alternative Capital lifted 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 valued at $26,000 after purchasing an additional 171 shares during the period. Legacy Investment Solutions LLC bought a new stake in Citigroup in the third quarter worth approximately $31,000. Webster Bank N. A. lifted its stake in Citigroup by 150.0% in the fourth quarter. Webster Bank N. A. now owns 500 shares of the company's stock valued at $35,000 after buying an additional 300 shares during the period. Creative Capital Management Investments LLC bought a new position in shares of Citigroup during the 4th quarter worth approximately $35,000. Finally, Sierra Ocean LLC acquired a new stake in shares of Citigroup during the 4th quarter worth approximately $37,000. Institutional investors own 71.72% of the company's stock.

Citigroup Stock Performance

Shares of Citigroup stock traded up $0.39 during mid-day trading on Tuesday, hitting $74.43. 10,917,979 shares of the stock were exchanged, compared to its average volume of 13,309,911. The company has a market capitalization of $140.26 billion, a P/E ratio of 12.51, a P/E/G ratio of 0.64 and a beta of 1.43. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The company has a 50-day simple moving average of $77.50 and a 200 day simple moving average of $70.53. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74.

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Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business had revenue of $19.58 billion for the quarter, compared to analysts' expectations of $19.51 billion. During the same quarter in the previous year, the firm earned $0.84 earnings per share. The business's revenue was up 12.3% on a year-over-year basis. Sell-side analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

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

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 3.01%. Citigroup's dividend payout ratio (DPR) is presently 37.65%.

Insider Buying and Selling

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the sale, the chief financial officer now directly owns 217,331 shares of the company's stock, valued at $18,084,112.51. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Anand Selvakesari sold 30,000 shares of the company's stock in a transaction that occurred on 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 sale, the chief operating officer now 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. Over the last 90 days, insiders sold 103,590 shares of company stock worth $8,523,149. Insiders own 0.08% of the company's stock.

Analyst Ratings Changes

C has been the topic of a number of research reports. Barclays upgraded shares of Citigroup from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $70.00 to $95.00 in a research report on Monday, January 6th. The Goldman Sachs Group decreased their price objective on Citigroup from $90.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday, March 19th. Oppenheimer cut their target price on Citigroup from $110.00 to $102.00 and set an "outperform" rating on the stock in a report on Friday, January 3rd. Evercore ISI boosted their price target on shares of Citigroup from $69.00 to $79.00 and gave the company an "in-line" rating in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Citigroup from $85.00 to $92.00 and gave the stock an "outperform" rating in a report on Thursday, January 16th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $83.53.

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.