Sompo Asset Management Co. Ltd. Sells 14,686 Shares of Citigroup Inc. (NYSE:C)

Sompo Asset Management Co. Ltd. decreased its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 15.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 79,604 shares of the company's stock after selling 14,686 shares during the quarter. Sompo Asset Management Co. Ltd.'s holdings in Citigroup were worth $5,603,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. MGO One Seven LLC boosted its position in shares of Citigroup by 16.5% during the 4th quarter. MGO One Seven LLC now owns 52,142 shares of the company's stock valued at $3,670,000 after purchasing an additional 7,389 shares in the last quarter. Pinebridge Investments L.P. lifted its stake in Citigroup by 175.6% in the fourth quarter. Pinebridge Investments L.P. now owns 843,050 shares of the company's stock valued at $59,342,000 after buying an additional 537,110 shares during the period. Spartan Fund Management Inc. bought a new position in shares of Citigroup during the 4th quarter worth approximately $598,000. Price T Rowe Associates Inc. MD grew its position in shares of Citigroup by 2.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company's stock worth $2,714,359,000 after buying an additional 815,003 shares during the period. Finally, Dark Forest Capital Management LP increased its stake in shares of Citigroup by 25.8% in the 4th quarter. Dark Forest Capital Management LP now owns 22,595 shares of the company's stock valued at $1,590,000 after acquiring an additional 4,634 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company's stock.

Citigroup Stock Up 0.5 %

Shares of C stock traded up $0.31 on Friday, hitting $68.47. The stock had a trading volume of 12,248,567 shares, compared to its average volume of 14,430,947. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74. The stock has a market cap of $128.88 billion, a price-to-earnings ratio of 11.51, a price-to-earnings-growth ratio of 0.64 and a beta of 1.29. The business has a 50 day moving average of $69.38 and a 200 day moving average of $71.05. 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 Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, topping analysts' consensus estimates of $1.84 by $0.12. The firm had revenue of $21.60 billion for the quarter, compared to the consensus estimate of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. As a group, analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a yield of 3.27%. Citigroup's dividend payout ratio (DPR) is presently 35.39%.

Citigroup declared that its Board of Directors has approved a stock repurchase program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to buy up to 13.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

C has been the topic of several research analyst reports. Piper Sandler reissued an "overweight" rating and set a $77.00 target price (down from $83.00) on shares of Citigroup in a research note on Wednesday, April 16th. JPMorgan Chase & Co. cut their price objective on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Truist Financial decreased their target price on Citigroup from $84.00 to $79.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $92.00 price target (down previously from $96.00) on shares of Citigroup in a report on Wednesday, April 16th. Finally, Evercore ISI reduced their price objective on Citigroup from $79.00 to $76.00 and set an "in-line" rating for the company in a research note on Tuesday, April 1st. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $84.61.

Insider Buying and Selling at Citigroup

In related news, insider Sara Wechter sold 15,125 shares of the firm's stock in a transaction that occurred 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark Mason sold 58,465 shares of the business's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the sale, the chief financial officer now directly owns 217,331 shares in the company, valued at $18,084,112.51. The trade was a 21.20 % 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 over the last three months. 0.08% of the stock is currently owned by 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.