Wellington Management Group LLP lessened its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 12.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,482 shares of the company's stock after selling 6,042 shares during the period. Wellington Management Group LLP's holdings in Citigroup were worth $3,131,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of C. O Shaughnessy Asset Management LLC grew its position in shares of Citigroup by 16.2% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 405,692 shares of the company's stock valued at $28,557,000 after acquiring an additional 56,432 shares during the period. Clearbridge Investments LLC increased its position in Citigroup by 23.6% during the fourth quarter. Clearbridge Investments LLC now owns 176,029 shares of the company's stock worth $12,391,000 after buying an additional 33,641 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in Citigroup by 74.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 49,019 shares of the company's stock valued at $3,591,000 after buying an additional 20,918 shares during the period. Summit Securities Group LLC lifted its position in shares of Citigroup by 291.5% in the fourth quarter. Summit Securities Group LLC now owns 23,100 shares of the company's stock valued at $1,626,000 after buying an additional 17,200 shares during the last quarter. Finally, L & S Advisors Inc bought a new position in shares of Citigroup during the 4th quarter worth approximately $6,312,000. 71.72% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have recently commented on C. Barclays raised Citigroup from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Piper Sandler reaffirmed an "overweight" rating and issued a $83.00 price objective (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. StockNews.com lowered shares of Citigroup from a "buy" rating to a "hold" rating in a research report on Sunday, March 30th. The Goldman Sachs Group cut their price objective on shares of Citigroup from $90.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday, March 19th. Finally, Morgan Stanley dropped their price target on Citigroup from $110.00 to $109.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $84.54.
Read Our Latest Stock Report on C
Insider Transactions at Citigroup
In related news, insider Sara Wechter sold 15,125 shares of the business's stock in a transaction dated 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 directly owns 109,780 shares of the company's stock, valued at $8,893,277.80. The trade was a 12.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.10, for a total value of $2,433,000.00. Following the completion of the transaction, the chief operating officer now owns 229,180 shares in the company, valued at approximately $18,586,498. The trade was a 11.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 103,590 shares of company stock valued at $8,523,149. Corporate insiders own 0.08% of the company's stock.
Citigroup Trading Up 3.5 %
Shares of Citigroup stock traded up $2.16 during trading on Monday, hitting $63.80. The company's stock had a trading volume of 11,337,353 shares, compared to its average volume of 14,364,735. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.74. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $120.08 billion, a price-to-earnings ratio of 10.72, a price-to-earnings-growth ratio of 0.64 and a beta of 1.29. The stock has a 50-day moving average price of $72.91 and a two-hundred day moving average price of $71.01.
Citigroup (NYSE:C - Get Free Report) last released its quarterly 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 firm had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same quarter last year, the business earned $0.84 EPS. The company's revenue was up 12.3% compared to the same quarter last year. Equities research analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.
Citigroup Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders 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 3.51%. Citigroup's payout ratio is currently 37.65%.
Citigroup declared that its board has authorized a share repurchase plan on Wednesday, January 15th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 13.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.
Citigroup Company Profile
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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.
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