Royal London Asset Management Ltd. Has $56.58 Million Position in Citigroup Inc. (NYSE:C)

Royal London Asset Management Ltd. grew its stake in Citigroup Inc. (NYSE:C - Free Report) by 1.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 803,772 shares of the company's stock after buying an additional 14,669 shares during the period. Royal London Asset Management Ltd.'s holdings in Citigroup were worth $56,578,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Core Alternative Capital boosted its stake in shares of Citigroup by 83.4% during the fourth quarter. Core Alternative Capital now owns 376 shares of the company's stock worth $26,000 after buying an additional 171 shares during the period. Legacy Investment Solutions LLC purchased a new stake in Citigroup during the 3rd quarter valued at approximately $31,000. Creative Capital Management Investments LLC purchased a new stake in Citigroup during the 4th quarter valued at approximately $35,000. Webster Bank N. A. lifted its position in Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company's stock worth $35,000 after acquiring an additional 300 shares during the period. Finally, Sierra Ocean LLC purchased a new position in shares of Citigroup in the 4th quarter valued at approximately $37,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on C. Truist Financial assumed coverage on shares of Citigroup in a research note on Tuesday, January 7th. They issued a "buy" rating and a $85.00 target price for the company. Bank of America raised their price objective on shares of Citigroup from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their target price on Citigroup from $85.00 to $92.00 and gave the stock an "outperform" rating in a research report on Thursday, January 16th. Evercore ISI raised their price target on Citigroup from $69.00 to $79.00 and gave the company an "in-line" rating in a report on Thursday, January 16th. Finally, Oppenheimer dropped their price objective on Citigroup from $110.00 to $102.00 and set an "outperform" rating on the stock in a report on Friday, January 3rd. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $83.53.

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Citigroup Stock Up 0.5 %

Shares of C stock traded up $0.39 during trading hours on Tuesday, hitting $74.43. 10,917,979 shares of the company were exchanged, compared to its average volume of 13,304,832. The stock has a market capitalization of $140.26 billion, a price-to-earnings ratio of 12.51, a P/E/G ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74. The business's 50-day simple moving average is $77.48 and its two-hundred day simple moving average is $70.42. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96.

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

Citigroup Dividend Announcement

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

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

Insider Activity at Citigroup

In related news, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the transaction, the chief financial officer now directly owns 217,331 shares of the company's stock, valued at $18,084,112.51. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sara Wechter sold 15,125 shares of the firm's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following 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 disclosure for this sale can be found here. Insiders have sold a total of 103,590 shares of company stock worth $8,523,149 in the last three months. 0.08% of the stock is owned by company insiders.

Citigroup 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.