Whittier Trust Co. of Nevada Inc. Cuts Stock Position in Citigroup Inc. (NYSE:C)

Whittier Trust Co. of Nevada Inc. decreased its holdings in Citigroup Inc. (NYSE:C - Free Report) by 23.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 13,634 shares of the company's stock after selling 4,083 shares during the period. Whittier Trust Co. of Nevada Inc.'s holdings in Citigroup were worth $960,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Geode Capital Management LLC boosted its position in shares of Citigroup by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company's stock valued at $2,492,238,000 after purchasing an additional 791,758 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Citigroup by 18.5% during the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company's stock worth $1,998,976,000 after buying an additional 4,680,713 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Citigroup by 3.6% during the 4th quarter. Fisher Asset Management LLC now owns 30,014,183 shares of the company's stock worth $2,112,698,000 after buying an additional 1,043,826 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Citigroup by 9.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company's stock valued at $981,347,000 after acquiring an additional 1,404,120 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Citigroup by 2.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,703,215 shares of the company's stock valued at $670,021,000 after acquiring an additional 240,628 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Citigroup Price Performance

NYSE:C traded up $0.37 during trading hours on Tuesday, hitting $74.41. The stock had a trading volume of 6,278,840 shares, compared to its average volume of 13,304,832. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74. The company has a 50 day simple moving average of $77.48 and a two-hundred day simple moving average of $70.42. 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 firm has a market capitalization of $140.23 billion, a price-to-earnings ratio of 12.51, a P/E/G ratio of 0.64 and a beta of 1.43.

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 return on equity of 6.62% and a net margin of 7.43%. The company had revenue of $19.58 billion for the quarter, compared to analysts' expectations of $19.51 billion. During the same period last year, the firm posted $0.84 EPS. Citigroup's revenue for the quarter was up 12.3% compared to the same quarter last year. Research analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 3.01%. Citigroup's payout ratio is 37.65%.

Citigroup announced that its board has authorized a share buyback program 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 programs are generally a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts have recently issued reports on C shares. Evercore ISI lifted their price objective on shares of Citigroup from $69.00 to $79.00 and gave the company an "in-line" rating in a report on Thursday, January 16th. Barclays upgraded shares of Citigroup from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Morgan Stanley decreased their price objective 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. Oppenheimer cut their target price on Citigroup from $110.00 to $102.00 and set an "outperform" rating on the stock in a research note on Friday, January 3rd. Finally, Bank of America increased their price target on Citigroup from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $83.53.

Insider Buying and Selling

In other Citigroup news, insider Sara Wechter sold 15,125 shares of the stock in a transaction that occurred 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 approximately $8,893,277.80. This trade represents a 12.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Anand Selvakesari sold 30,000 shares of the business's stock in a transaction 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 transaction, the chief operating officer now directly owns 229,180 shares in the company, valued at approximately $18,586,498. The trade was a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 103,590 shares of company stock valued at $8,523,149 over the last three months. 0.08% of the stock is owned by company insiders.

Citigroup Company 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.