Treasurer of the State of North Carolina Cuts Holdings in Citigroup Inc. (NYSE:C)

Treasurer of the State of North Carolina trimmed its position in Citigroup Inc. (NYSE:C) by 0.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 854,291 shares of the company’s stock after selling 6,760 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Citigroup were worth $60,134,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Core Alternative Capital lifted its holdings in shares of Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after acquiring an additional 171 shares during the last quarter. Creative Capital Management Investments LLC bought a new stake in shares of Citigroup in the 4th quarter valued at approximately $35,000. Webster Bank N. A. boosted its holdings in shares of Citigroup by 150.0% in the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after purchasing an additional 300 shares during the period. Sierra Ocean LLC bought a new position in shares of Citigroup during the 4th quarter valued at approximately $37,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in Citigroup during the 4th quarter valued at $39,000. 71.72% of the stock is owned by institutional investors.

Citigroup Stock Up 9.4 %

Shares of NYSE C opened at $64.28 on Thursday. The stock has a market capitalization of $120.98 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 0.64 and a beta of 1.29. 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 stock’s fifty day simple moving average is $73.60 and its two-hundred day simple moving average is $70.93.

Citigroup (NYSE:C) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The business had revenue of $19.58 billion during 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 revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 earnings per share. As a group, analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup’s dividend payout ratio is presently 37.65%.

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

Wall Street Analyst Weigh In

C has been the topic of a number of analyst reports. Bank of America cut their price objective on shares of Citigroup from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. The Goldman Sachs Group reduced their price objective on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, March 19th. Morgan Stanley cut their target price on Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Piper Sandler restated an “overweight” rating and set a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods increased their target price on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, January 16th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $84.54.

Insider Activity

In other Citigroup news, insider Sara Wechter sold 15,125 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 109,780 shares of the company’s stock, valued at approximately $8,893,277.80. This trade represents a 12.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.10, for a total transaction 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 $18,586,498. The trade was a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 103,590 shares of company stock worth $8,523,149 over the last 90 days. 0.08% of the stock is currently owned by corporate 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.