PGGM Investments Sells 22,284 Shares of Citigroup Inc. (NYSE:C)

PGGM Investments reduced its position in Citigroup Inc. (NYSE:C) by 7.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 261,561 shares of the company’s stock after selling 22,284 shares during the period. PGGM Investments’ holdings in Citigroup were worth $18,411,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Brookstone Capital Management increased its holdings in shares of Citigroup by 340.6% in the 4th quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock valued at $2,536,000 after acquiring an additional 27,856 shares during the period. Inspire Trust Co. N.A. boosted its position in Citigroup by 34.8% during the third quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock valued at $4,852,000 after purchasing an additional 20,000 shares in the last quarter. FNY Investment Advisers LLC grew its stake in Citigroup by 168.7% in the fourth quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock valued at $1,376,000 after purchasing an additional 12,280 shares during the last quarter. HighTower Advisors LLC raised its holdings in Citigroup by 2.4% in the third quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock worth $22,236,000 after purchasing an additional 8,301 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Citigroup by 1.8% during the third quarter. KBC Group NV now owns 1,138,511 shares of the company’s stock valued at $71,270,000 after buying an additional 20,291 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on C shares. Evercore ISI boosted their price objective on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research note on Thursday, January 16th. Morgan Stanley increased their price objective on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Piper Sandler restated an “overweight” rating and set a $83.00 target price (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Bank of America increased their price target on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Finally, StockNews.com upgraded Citigroup from a “hold” rating to a “buy” rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Insider Activity

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $18,084,112.51. The trade was a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Anand Selvakesari sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.10, for a total value of $2,433,000.00. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders sold a total of 103,590 shares of company stock valued at $8,523,149 in the last quarter. 0.08% of the stock is currently owned by company insiders.

Citigroup Stock Performance

C opened at $67.94 on Thursday. The company has a current ratio of 0.96, a quick 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 50 day moving average of $77.73 and a two-hundred day moving average of $69.86. The firm has a market capitalization of $128.04 billion, a PE ratio of 11.42, a P/E/G ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last released its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The firm had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.84 earnings per share. On average, analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were issued 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 3.30%. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Citigroup declared that its board has authorized a share repurchase plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to buy up to 13.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

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.