Brandywine Global Investment Management LLC Decreases Stock Holdings in Citigroup Inc. (NYSE:C)

Brandywine Global Investment Management LLC decreased its position in shares of Citigroup Inc. (NYSE:C) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,089,244 shares of the company’s stock after selling 32,063 shares during the quarter. Citigroup accounts for approximately 2.1% of Brandywine Global Investment Management LLC’s investment portfolio, making the stock its 3rd largest position. Brandywine Global Investment Management LLC owned 0.22% of Citigroup worth $287,842,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Glenmede Trust Co. NA boosted its stake in Citigroup by 8.3% in the third quarter. Glenmede Trust Co. NA now owns 192,927 shares of the company’s stock valued at $12,077,000 after buying an additional 14,858 shares in the last quarter. CreativeOne Wealth LLC boosted its position in Citigroup by 216.3% in the third quarter. CreativeOne Wealth LLC now owns 11,986 shares of the company’s stock valued at $750,000 after buying an additional 8,197 shares in the last quarter. Financial Counselors Inc. grew its stake in shares of Citigroup by 11.3% during the third quarter. Financial Counselors Inc. now owns 3,668 shares of the company’s stock worth $230,000 after buying an additional 372 shares during the last quarter. Martingale Asset Management L P acquired a new position in shares of Citigroup during the third quarter worth $316,000. Finally, Atlantic Union Bankshares Corp lifted its stake in shares of Citigroup by 15.4% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 34,598 shares of the company’s stock valued at $2,166,000 after acquiring an additional 4,630 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on C shares. Oppenheimer lowered their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. The Goldman Sachs Group dropped their price objective on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. 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 price target for the company. Evercore ISI lifted their price target on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods increased their price objective on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $84.50.

Citigroup Stock Performance

Shares of Citigroup stock opened at $70.28 on Friday. The company has a market cap of $132.28 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. The business has a 50 day moving average price of $77.06 and a 200-day moving average price of $70.72. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.74. 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 (NYSE:C) last issued its quarterly earnings results 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 company had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.84 EPS. Equities analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal 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 dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 3.19%. Citigroup’s payout ratio is 37.65%.

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

Insider Activity

In other Citigroup 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 value of $1,225,276.25. Following the transaction, the insider now owns 109,780 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, the chief operating officer now directly owns 229,180 shares in the company, valued at $18,586,498. This trade represents a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is owned by corporate insiders.

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.