Citigroup Inc. (NYSE:C) Shares Purchased by Capital Group Investment Management PTE. LTD.

Capital Group Investment Management PTE. LTD. boosted its stake in shares of Citigroup Inc. (NYSE:C) by 148.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 39,125 shares of the company’s stock after purchasing an additional 23,365 shares during the period. Capital Group Investment Management PTE. LTD.’s holdings in Citigroup were worth $2,754,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in Citigroup in the 4th quarter valued at $1,935,599,000. FMR LLC lifted its stake in shares of Citigroup by 29.7% in the fourth quarter. FMR LLC now owns 34,362,176 shares of the company’s stock worth $2,418,754,000 after buying an additional 7,863,718 shares in the last quarter. Franklin Resources Inc. boosted its position in Citigroup by 18.5% during the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock worth $1,998,976,000 after acquiring an additional 4,680,713 shares during the last quarter. Swedbank AB grew its stake in Citigroup by 90.2% during the 4th quarter. Swedbank AB now owns 8,326,745 shares of the company’s stock valued at $586,120,000 after acquiring an additional 3,947,912 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Citigroup in the 4th quarter valued at about $198,231,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Citigroup

In related news, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction on Friday, February 14th. The stock was sold at an average price of $83.21, for a total value of $4,864,872.65. Following the completion of the transaction, the chief financial officer now directly owns 217,331 shares in the company, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sara Wechter sold 15,125 shares of the business’s stock in a transaction 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 103,590 shares of company stock worth $8,523,149 in the last three months. 0.08% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

C has been the topic of several recent research reports. Keefe, Bruyette & Woods restated an “outperform” rating and set a $92.00 target price (down from $96.00) on shares of Citigroup in a report on Wednesday. Truist Financial lowered their price objective on Citigroup from $84.00 to $79.00 and set a “buy” rating on the stock in a research note on Wednesday. Bank of America cut their target price on Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Evercore ISI dropped their price objective on shares of Citigroup from $79.00 to $76.00 and set an “in-line” rating for the company in a report on Tuesday, April 1st. Finally, Royal Bank of Canada cut their price objective on shares of Citigroup from $85.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.61.

Citigroup Price Performance

Shares of C opened at $63.23 on Friday. The firm has a 50-day simple moving average of $71.47 and a two-hundred day simple moving average of $70.91. The stock has a market cap of $119.01 billion, a PE ratio of 10.63, a P/E/G ratio of 0.64 and a beta of 1.29. Citigroup Inc. has a 1-year low of $53.51 and a 1-year 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.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm had revenue of $21.60 billion during the quarter, compared to the consensus estimate of $21.34 billion. As a group, analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup declared that its Board of Directors has approved a share buyback program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to purchase up to 13.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup’s payout ratio is 37.65%.

About Citigroup

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.