Nexus Investment Management ULC Sells 22,000 Shares of Citigroup Inc. (NYSE:C)

Nexus Investment Management ULC decreased its holdings in Citigroup Inc. (NYSE:C) by 4.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 500,670 shares of the company’s stock after selling 22,000 shares during the quarter. Citigroup accounts for about 3.5% of Nexus Investment Management ULC’s portfolio, making the stock its 12th largest holding. Nexus Investment Management ULC’s holdings in Citigroup were worth $35,242,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. Blair William & Co. IL lifted its position in Citigroup by 3.8% during the second quarter. Blair William & Co. IL now owns 151,630 shares of the company’s stock worth $9,622,000 after purchasing an additional 5,481 shares during the period. Intech Investment Management LLC raised its position in shares of Citigroup by 2.9% in the 2nd quarter. Intech Investment Management LLC now owns 104,407 shares of the company’s stock valued at $6,626,000 after buying an additional 2,896 shares in the last quarter. Ieq Capital LLC lifted its holdings in shares of Citigroup by 20.9% during the 2nd quarter. Ieq Capital LLC now owns 59,332 shares of the company’s stock worth $3,765,000 after acquiring an additional 10,239 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Citigroup by 15.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,738,454 shares of the company’s stock worth $173,782,000 after acquiring an additional 365,140 shares in the last quarter. Finally, King Luther Capital Management Corp increased its stake in Citigroup by 46.0% in the second quarter. King Luther Capital Management Corp now owns 110,442 shares of the company’s stock valued at $7,009,000 after acquiring an additional 34,809 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

C has been the subject of several recent analyst reports. Evercore ISI upped their target price on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research note on Thursday. Keefe, Bruyette & Woods lifted their target price on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday. Oppenheimer dropped their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Wells Fargo & Company lifted their price target on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Price Performance

Shares of C opened at $80.05 on Friday. The business has a 50-day moving average of $71.22 and a 200-day moving average of $65.52. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $151.40 billion, a price-to-earnings ratio of 23.20, a price-to-earnings-growth ratio of 0.59 and a beta of 1.43. Citigroup Inc. has a 1 year low of $50.51 and a 1 year high of $80.45.

Citigroup (NYSE:C) 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 4.70% and a return on equity of 6.19%. 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. As a group, equities research analysts anticipate that Citigroup Inc. will post 5.88 earnings per share for the current year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.56 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 2.80%. Citigroup’s dividend payout ratio (DPR) is currently 64.93%.

Citigroup announced that its board has approved 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 reacquire up to 13.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

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.