Schroder Investment Management Group Sells 742,740 Shares of Citigroup Inc. (NYSE:C)

Schroder Investment Management Group reduced its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 40.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,105,128 shares of the company's stock after selling 742,740 shares during the period. Schroder Investment Management Group owned about 0.06% of Citigroup worth $77,790,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in C. Blake Schutter Theil Wealth Advisors LLC increased its position in shares of Citigroup by 1.6% during the fourth quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company's stock worth $608,000 after acquiring an additional 135 shares during the period. Hemington Wealth Management grew its stake in Citigroup by 10.9% during the 4th quarter. Hemington Wealth Management now owns 1,387 shares of the company's stock worth $97,000 after purchasing an additional 136 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in Citigroup by 3.4% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company's stock worth $289,000 after purchasing an additional 137 shares during the period. Rakuten Securities Inc. raised its position in Citigroup by 2.4% in the 4th quarter. Rakuten Securities Inc. now owns 5,953 shares of the company's stock valued at $419,000 after purchasing an additional 139 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in Citigroup by 1.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company's stock valued at $592,000 after purchasing an additional 140 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

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Citigroup Price Performance

Shares of NYSE C traded down $7.71 on Thursday, hitting $64.05. The company's stock had a trading volume of 16,889,511 shares, compared to its average volume of 13,823,514. 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 Inc. has a 12-month low of $53.51 and a 12-month high of $84.74. The stock has a 50 day moving average of $76.46 and a 200-day moving average of $71.01. The company has a market capitalization of $120.55 billion, a price-to-earnings ratio of 10.76, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43.

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, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $19.51 billion. During the same period last year, the company earned $0.84 earnings per share. The company's quarterly revenue was up 12.3% on a year-over-year basis. As a group, research analysts predict that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.50%. 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 authorized a stock buyback plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 13.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on C shares. Barclays raised Citigroup from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Evercore ISI lowered their price target on shares of Citigroup from $79.00 to $76.00 and set an "in-line" rating for the company in a report on Tuesday. Keefe, Bruyette & Woods raised their price objective on shares of Citigroup from $85.00 to $92.00 and gave the company an "outperform" rating in a report on Thursday, January 16th. Morgan Stanley lowered their target price on shares of Citigroup from $110.00 to $109.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $83.00 price target (up 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's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $83.30.

Insider Activity

In other news, insider Sara Wechter sold 15,125 shares of the company's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total value of $1,225,276.25. Following the completion of the sale, the insider now owns 109,780 shares in the company, valued at $8,893,277.80. This represents a 12.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 217,331 shares in the company, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is currently owned by insiders.

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.