Rathbones Group PLC Reduces Position in Citigroup Inc. (NYSE:C)

Rathbones Group PLC lessened its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 15.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 241,355 shares of the company's stock after selling 44,041 shares during the period. Rathbones Group PLC's holdings in Citigroup were worth $16,989,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Twin Capital Management Inc. boosted its stake in Citigroup by 2.7% during the 4th quarter. Twin Capital Management Inc. now owns 64,895 shares of the company's stock worth $4,568,000 after purchasing an additional 1,710 shares during the last quarter. Invesco Ltd. boosted its position in Citigroup by 13.8% during the fourth quarter. Invesco Ltd. now owns 16,247,095 shares of the company's stock worth $1,143,633,000 after acquiring an additional 1,970,300 shares during the last quarter. Cerity Partners LLC grew its stake in Citigroup by 2.7% during the 4th quarter. Cerity Partners LLC now owns 883,960 shares of the company's stock valued at $58,309,000 after acquiring an additional 23,053 shares in the last quarter. Sierra Summit Advisors LLC raised its holdings in Citigroup by 4,319.3% in the 4th quarter. Sierra Summit Advisors LLC now owns 167,534 shares of the company's stock valued at $11,793,000 after acquiring an additional 163,743 shares during the last quarter. Finally, FMR LLC lifted its stake in Citigroup by 29.7% in the 4th quarter. FMR LLC now owns 34,362,176 shares of the company's stock worth $2,418,754,000 after purchasing an additional 7,863,718 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In other news, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction dated 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 transaction, the chief operating officer now owns 229,180 shares in the company, valued at approximately $18,586,498. This represents a 11.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark Mason sold 58,465 shares of the business's stock in a transaction that occurred on 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 sale, the chief financial officer now owns 217,331 shares of the company's stock, valued at approximately $18,084,112.51. The trade was a 21.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,590 shares of company stock worth $8,523,149 over the last 90 days. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on C. Piper Sandler reaffirmed an "overweight" rating and set a $83.00 target price (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. StockNews.com lowered shares of Citigroup from a "buy" rating to a "hold" rating in a research report on Sunday, March 30th. JPMorgan Chase & Co. lowered their price objective on Citigroup from $85.50 to $75.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Truist Financial reduced their target price on Citigroup from $85.00 to $84.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. Finally, Morgan Stanley lowered their price target on Citigroup from $110.00 to $109.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Citigroup currently has a consensus rating of "Moderate Buy" and an average target price of $84.54.

Citigroup Stock Down 0.1 %

Citigroup stock traded down $0.09 during mid-day trading on Friday, reaching $61.51. 10,312,579 shares of the company's stock were exchanged, compared to its average volume of 14,391,230. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. The company has a market cap of $115.76 billion, a P/E ratio of 10.27, a P/E/G ratio of 0.64 and a beta of 1.29. The company has a fifty day moving average of $73.24 and a 200-day moving average of $70.93.

Citigroup (NYSE:C - Get Free Report) last released 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 firm had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same period last year, the business posted $0.84 earnings per share. Citigroup's revenue was up 12.3% compared to the same quarter last year. Sell-side analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup announced that its Board of Directors has approved a stock buyback program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 13.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Citigroup Dividend Announcement

The company 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 $0.56 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 3.64%. Citigroup's dividend payout ratio (DPR) is 37.65%.

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.