Citigroup Inc. (NYSE:C) Stock Position Reduced by Main Street Research LLC

Main Street Research LLC trimmed its position in Citigroup Inc. (NYSE:C) by 6.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,730 shares of the company’s stock after selling 412 shares during the period. Main Street Research LLC’s holdings in Citigroup were worth $403,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC increased its stake in Citigroup by 2.0% during the third 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 during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Citigroup by 18.5% in the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after buying an additional 4,680,713 shares during the period. 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 valued at $2,112,698,000 after buying an additional 1,043,826 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Citigroup by 9.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock valued at $981,347,000 after purchasing an additional 1,404,120 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 worth $670,021,000 after purchasing an additional 240,628 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Trading Down 0.0 %

NYSE:C opened at $70.55 on Monday. The company’s 50 day moving average is $77.90 and its 200-day moving average is $69.78. 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 Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. The firm has a market cap of $132.94 billion, a price-to-earnings ratio of 11.86, a P/E/G ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 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 for the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter last year, the firm posted $0.84 EPS. The business’s quarterly revenue was up 12.3% on a year-over-year basis. Equities analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

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 issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is currently 37.65%.

Citigroup declared that its Board of Directors has approved a share 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 stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts have issued reports on C shares. The Goldman Sachs Group boosted their target price on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Piper Sandler restated an “overweight” rating and issued a $83.00 target price (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Oppenheimer reduced their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Wells Fargo & Company lifted their price objective on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and an average target price of $83.93.

Insiders Place Their Bets

In other Citigroup news, insider Sara Wechter sold 15,125 shares of the company’s 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 transaction, the insider now owns 109,780 shares of the company’s stock, valued at $8,893,277.80. This represents a 12.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Anand Selvakesari sold 30,000 shares of the business’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 value of $2,433,000.00. Following the sale, the chief operating officer now owns 229,180 shares in the company, valued at approximately $18,586,498. This represents 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 in the last three months. Company insiders own 0.08% of the company’s stock.

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.