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American Century Companies Inc. grew its stake in shares of Citigroup Inc. (NYSE:C – Free Report) by 3.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 352,948 shares of the company’s stock after acquiring an additional 11,674 shares during the quarter. American Century Companies Inc.’s holdings in Citigroup were worth $24,844,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of C. Core Alternative Capital increased its holdings in shares of Citigroup by 83.4% in the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after purchasing an additional 171 shares during the period. Legacy Investment Solutions LLC acquired a new position in Citigroup in the 3rd quarter worth approximately $31,000. Webster Bank N. A. raised its position in Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after buying an additional 300 shares during the last quarter. Creative Capital Management Investments LLC acquired a new stake in Citigroup during the 4th quarter valued at approximately $35,000. Finally, Sierra Ocean LLC purchased a new stake in shares of Citigroup in the 4th quarter valued at $37,000. 71.72% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 217,331 shares in the company, valued at $18,084,112.51. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sara Wechter sold 15,125 shares of Citigroup stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the sale, the insider now directly owns 109,780 shares in the company, valued at approximately $8,893,277.80. The trade was a 12.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,590 shares of company stock worth $8,523,149 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.
Citigroup Stock Down 2.2 %
C opened at $70.28 on Friday. The company has a market cap of $132.28 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. The company has a 50-day moving average price of $77.06 and a 200 day moving average price of $70.72. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50.
Citigroup (NYSE:C – Get Free Report) last released its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter last year, the business posted $0.84 earnings per share. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. Sell-side analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.
Citigroup announced that its board has initiated a stock repurchase program on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to buy up to 13.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
Citigroup Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is 37.65%.
Analyst Ratings Changes
Several research analysts recently issued reports on C shares. StockNews.com cut shares of Citigroup from a “buy” rating to a “hold” rating in a report on Sunday. The Goldman Sachs Group decreased their price objective on Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. Oppenheimer dropped their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Piper Sandler reissued an “overweight” rating and issued a $83.00 price target (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Finally, Bank of America raised their price objective on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $84.50.
Get Our Latest Stock Analysis on C
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.
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