Prudential PLC cut its stake in Citigroup Inc. (NYSE:C - Free Report) by 13.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 286,135 shares of the company's stock after selling 42,762 shares during the period. Prudential PLC's holdings in Citigroup were worth $20,141,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently modified their holdings of C. Core Alternative Capital increased 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. Legacy Investment Solutions LLC bought a new stake in shares of Citigroup during the third quarter worth approximately $31,000. Creative Capital Management Investments LLC acquired a new position in Citigroup in the fourth quarter valued at approximately $35,000. Webster Bank N. A. boosted 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 acquiring an additional 300 shares during the last quarter. Finally, Sierra Ocean LLC acquired a new stake in Citigroup during the 4th quarter worth $37,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Citigroup
In related news, insider Sara Wechter sold 15,125 shares of the firm'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 completion of the transaction, the insider now directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Anand Selvakesari sold 30,000 shares of the company's stock in a transaction on Thursday, February 13th. The stock was 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 directly owns 229,180 shares in the company, valued at $18,586,498. This trade represents a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,590 shares of company stock worth $8,523,149. Insiders own 0.08% of the company's stock.
Analysts Set New Price Targets
A number of research firms have recently weighed in on C. JPMorgan Chase & Co. cut their price target on Citigroup from $85.50 to $75.50 and set a "neutral" rating on the stock in a research note on Thursday. Barclays upgraded Citigroup from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Oppenheimer lowered their price target on Citigroup from $110.00 to $102.00 and set an "outperform" rating for the company in a research note on Friday, January 3rd. StockNews.com downgraded shares of Citigroup from a "buy" rating to a "hold" rating in a research report on Sunday, March 30th. Finally, Piper Sandler restated an "overweight" rating and set a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $83.23.
Check Out Our Latest Analysis on Citigroup
Citigroup Stock Down 8.0 %
C stock traded down $5.05 during trading hours on Friday, reaching $58.00. 51,682,961 shares of the stock were exchanged, compared to its average volume of 14,042,252. The company has a market cap of $109.17 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 0.64 and a beta of 1.43. The firm's 50-day moving average is $75.61 and its 200-day moving average is $70.95. Citigroup Inc. has a 12 month low of $53.51 and a 12 month 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 announced 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 6.62% and a net margin of 7.43%. The business had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. During the same quarter last year, the firm earned $0.84 EPS. Citigroup's revenue for the quarter was up 12.3% compared to the same quarter last year. On average, equities research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.
Citigroup announced that its Board of Directors has initiated a share buyback plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 13.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.
Citigroup Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.86%. The ex-dividend date is Monday, May 5th. Citigroup's payout ratio is 37.65%.
About Citigroup
(
Free Report)
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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