State of Tennessee Department of Treasury Trims Stock Position in Citigroup Inc. (NYSE:C)

State of Tennessee Department of Treasury reduced its position in Citigroup Inc. (NYSE:C - Free Report) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 755,402 shares of the company's stock after selling 4,345 shares during the quarter. State of Tennessee Department of Treasury's holdings in Citigroup were worth $53,173,000 as of its most recent filing with the SEC.

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

Insider Buying and Selling at Citigroup

In other Citigroup 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 value of $4,864,872.65. Following the completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Anand Selvakesari sold 30,000 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the completion of the transaction, the chief operating officer now directly owns 229,180 shares of the company's stock, valued at $18,586,498. This represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,590 shares of company stock worth $8,523,149. Insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

C has been the topic of a number of research reports. Royal Bank of Canada lowered their price objective on Citigroup from $85.00 to $78.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Truist Financial dropped their price target on shares of Citigroup from $84.00 to $79.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $92.00 target price (down previously from $96.00) on shares of Citigroup in a report on Wednesday, April 16th. StockNews.com downgraded Citigroup from a "buy" rating to a "hold" rating in a research report on Sunday, March 30th. Finally, Barclays upgraded Citigroup from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $84.61.

Citigroup Stock Up 2.8 %

C stock traded up $1.86 during trading on Thursday, hitting $68.16. 13,665,465 shares of the company's stock traded hands, compared to its average volume of 14,418,101. The business has a fifty day simple moving average of $70.03 and a two-hundred day simple moving average of $70.97. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $128.29 billion, a P/E ratio of 11.46, a PEG ratio of 0.64 and a beta of 1.29. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. Sell-side analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup announced that its board has authorized a share repurchase program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 13.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Monday, May 5th. Citigroup's dividend payout ratio (DPR) is 35.39%.

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.