Renaissance Technologies LLC trimmed its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 86.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 244,337 shares of the company's stock after selling 1,504,509 shares during the period. Renaissance Technologies LLC's holdings in Citigroup were worth $17,199,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Elgethun Capital Management raised its holdings in Citigroup by 102.5% in the fourth quarter. Elgethun Capital Management now owns 158,599 shares of the company's stock worth $11,164,000 after purchasing an additional 80,271 shares during the period. Twin Capital Management Inc. boosted its stake in Citigroup by 2.7% in 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 period. Invesco Ltd. raised its stake in shares of Citigroup by 13.8% in the 4th quarter. Invesco Ltd. now owns 16,247,095 shares of the company's stock valued at $1,143,633,000 after purchasing an additional 1,970,300 shares during the period. Cerity Partners LLC boosted its position in shares of Citigroup by 2.7% during the fourth quarter. Cerity Partners LLC now owns 883,960 shares of the company's stock worth $58,309,000 after buying an additional 23,053 shares during the period. Finally, Sierra Summit Advisors LLC raised its position 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 buying an additional 163,743 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company's stock.
Analyst Ratings Changes
A number of research firms recently weighed in on C. JPMorgan Chase & Co. decreased their target price on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. StockNews.com cut shares of Citigroup from a "buy" rating to a "hold" rating in a report on Sunday, March 30th. The Goldman Sachs Group lowered their target price on Citigroup from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, March 19th. Bank of America dropped their price target on Citigroup from $90.00 to $89.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Finally, Truist Financial reduced their price target on Citigroup from $84.00 to $79.00 and set a "buy" rating on the stock in a report on Wednesday. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $84.61.
View Our Latest Analysis on C
Citigroup Stock Performance
Shares of C stock traded up $1.13 during trading hours on Friday, hitting $63.23. 14,653,830 shares of the company were exchanged, compared to its average volume of 14,410,968. The stock has a market capitalization of $119.01 billion, a price-to-earnings ratio of 10.63, a P/E/G ratio of 0.64 and a beta of 1.29. The firm has a fifty day simple moving average of $71.47 and a 200 day simple moving average of $70.91. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a 52-week low of $53.51 and a 52-week high of $84.74.
Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.84 by $0.12. The company had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Research analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.
Citigroup Announces Dividend
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 paid a $0.56 dividend. The ex-dividend date is Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a yield of 3.54%. Citigroup's dividend payout ratio is presently 37.65%.
Citigroup declared that its board has authorized a stock buyback program on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to buy up to 13.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.
Insider Buying and Selling at Citigroup
In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of the company'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 transaction 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sara Wechter sold 15,125 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the completion of the transaction, the insider now owns 109,780 shares in the company, valued at approximately $8,893,277.80. This represents a 12.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,590 shares of company stock worth $8,523,149 over the last 90 days. Corporate insiders own 0.08% of the company's stock.
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.
Featured Stories
Before you consider Citigroup, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Citigroup wasn't on the list.
While Citigroup currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
