River Global Investors LLP Sells 66,403 Shares of Citigroup Inc. (NYSE:C)

River Global Investors LLP trimmed its holdings in Citigroup Inc. (NYSE:C) by 46.6% in the 4th quarter, Holdings Channel reports. The fund owned 76,079 shares of the company’s stock after selling 66,403 shares during the quarter. Citigroup accounts for about 1.0% of River Global Investors LLP’s investment portfolio, making the stock its 24th biggest position. River Global Investors LLP’s holdings in Citigroup were worth $5,357,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Generali Investments CEE investicni spolecnost a.s. purchased a new position in Citigroup during the fourth quarter valued at $3,168,000. PNC Financial Services Group Inc. grew its stake in shares of Citigroup by 1.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 379,623 shares of the company’s stock worth $26,722,000 after acquiring an additional 6,475 shares during the last quarter. Banco Santander S.A. increased its holdings in shares of Citigroup by 130.2% during the fourth quarter. Banco Santander S.A. now owns 615,857 shares of the company’s stock valued at $43,350,000 after acquiring an additional 348,310 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Citigroup by 12.2% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 245,776 shares of the company’s stock worth $19,092,000 after purchasing an additional 26,806 shares during the last quarter. Finally, RKL Wealth Management LLC purchased a new position in shares of Citigroup in the 4th quarter worth about $208,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Trading Down 0.0 %

Citigroup stock opened at $70.55 on Friday. Citigroup Inc. has a 52-week low of $53.51 and a 52-week high of $84.74. The company has a market cap of $132.94 billion, a P/E ratio of 11.86, a P/E/G ratio of 0.64 and a beta of 1.43. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The business has a 50-day simple moving average of $77.91 and a two-hundred day simple moving average of $69.60.

Citigroup (NYSE:C) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating 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 company had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same period in the previous year, the business posted $0.84 earnings per share. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. Analysts predict that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were paid a $0.56 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 3.18%. Citigroup’s dividend payout ratio (DPR) is 37.65%.

Citigroup announced that its Board of Directors has initiated a share buyback program on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to buy up to 13.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages recently commented on C. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods increased their price target on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. Truist Financial started coverage on shares of Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective for the company. Morgan Stanley increased their target price on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group lifted their target price on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Insider Buying and Selling

In related news, insider Sara Wechter sold 15,125 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were 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 directly owns 109,780 shares of the company’s stock, valued at approximately $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 can be accessed through this link. Also, CFO Mark Mason sold 58,465 shares of Citigroup 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 transaction, the chief financial officer now directly owns 217,331 shares in the company, valued at $18,084,112.51. This represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,590 shares of company stock valued at $8,523,149. 0.08% of the stock is owned by company insiders.

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.