Sanders Capital LLC Boosts Stock Holdings in Citigroup Inc. (NYSE:C)

Sanders Capital LLC lifted its holdings in Citigroup Inc. (NYSE:C) by 1.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 12,237,923 shares of the company’s stock after purchasing an additional 154,373 shares during the period. Citigroup comprises 1.3% of Sanders Capital LLC’s holdings, making the stock its 24th biggest position. Sanders Capital LLC owned 0.65% of Citigroup worth $861,427,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of C. Advisory Resource Group boosted its holdings in shares of Citigroup by 3.7% in the 3rd quarter. Advisory Resource Group now owns 72,947 shares of the company’s stock valued at $4,566,000 after buying an additional 2,590 shares in the last quarter. Te Ahumairangi Investment Management Ltd lifted its position in Citigroup by 6.7% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 202,691 shares of the company’s stock valued at $12,617,000 after acquiring an additional 12,810 shares during the last quarter. Anchor Investment Management LLC boosted its stake in Citigroup by 24.4% in the third quarter. Anchor Investment Management LLC now owns 2,557 shares of the company’s stock valued at $160,000 after acquiring an additional 501 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in Citigroup by 14.8% in the third quarter. Sanctuary Advisors LLC now owns 155,126 shares of the company’s stock worth $9,711,000 after purchasing an additional 19,941 shares during the last quarter. Finally, World Investment Advisors LLC increased its position in shares of Citigroup by 36.6% during the third quarter. World Investment Advisors LLC now owns 21,527 shares of the company’s stock worth $1,348,000 after purchasing an additional 5,763 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Bank of America dropped their price target on Citigroup from $90.00 to $89.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Evercore ISI decreased their price objective on shares of Citigroup from $79.00 to $76.00 and set an “in-line” rating for the company in a research report on Tuesday, April 1st. JPMorgan Chase & Co. dropped their target price on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price target (up previously from $80.00) on shares of Citigroup 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 stock. According to data from MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and an average price target of $84.54.

Insider Activity

In related news, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction dated 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 sale, the chief operating officer now directly owns 229,180 shares in the company, valued at approximately $18,586,498. The trade was a 11.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark Mason sold 58,465 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $83.21, for a total value of $4,864,872.65. Following the transaction, the chief financial officer now directly owns 217,331 shares of the company’s stock, valued at $18,084,112.51. The trade was a 21.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,590 shares of company stock worth $8,523,149 over the last three months. 0.08% of the stock is currently owned by corporate insiders.

Citigroup Trading Up 0.2 %

Citigroup stock opened at $61.73 on Friday. The firm has a market cap of $116.19 billion, a PE ratio of 10.38, a P/E/G ratio of 0.64 and a beta of 1.29. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. The stock’s 50 day simple moving average is $72.91 and its two-hundred day simple moving average is $70.94. 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 (NYSE:C) last released its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.22 by $0.12. The company 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 firm’s revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the business earned $0.84 earnings per share. Analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently disclosed 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 3.63%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup’s payout ratio is currently 37.65%.

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