National Pension Service Sells 115,937 Shares of Citigroup Inc. (NYSE:C)

National Pension Service lessened its stake in Citigroup Inc. (NYSE:C) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,719,261 shares of the company’s stock after selling 115,937 shares during the quarter. National Pension Service owned approximately 0.20% of Citigroup worth $261,799,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Core Alternative Capital lifted its position in shares of Citigroup by 83.4% in the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after buying an additional 171 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in Citigroup in the 3rd quarter valued at $31,000. Webster Bank N. A. lifted its holdings in Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after purchasing an additional 300 shares during the last quarter. Creative Capital Management Investments LLC acquired a new stake in Citigroup during the 4th quarter valued at $35,000. Finally, GHP Investment Advisors Inc. increased its holdings in shares of Citigroup by 184.0% in the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after purchasing an additional 368 shares during the last quarter. 71.72% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Sara Wechter sold 15,125 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.01, for a total transaction 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 $8,893,277.80. The trade was a 12.11 % decrease in their ownership of the stock. 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 Citigroup stock in a transaction dated 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 transaction, the chief operating officer now owns 229,180 shares of the company’s stock, valued at $18,586,498. This trade 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 worth $8,523,149 in the last three months. Company insiders own 0.08% of the company’s stock.

Citigroup Stock Down 0.5 %

Shares of Citigroup stock opened at $78.15 on Wednesday. The firm has a market cap of $147.80 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 0.64 and a beta of 1.44. The stock’s 50-day moving average is $77.08 and its 200 day moving average is $68.94. 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 Inc. has a one year low of $53.51 and a one year high of $84.74.

Citigroup (NYSE:C) last announced its quarterly earnings data 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 company had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter last year, the firm posted $0.84 EPS. The company’s quarterly revenue was up 12.3% on a year-over-year basis. Equities research analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup declared that its board has initiated a share buyback program on Wednesday, January 15th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 13.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders 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 dividend yield of 2.87%. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Oppenheimer reduced 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. Morgan Stanley boosted their price target on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Truist Financial assumed coverage on shares of Citigroup in a research report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price for the company. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price objective (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group boosted their target price on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

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.