Capital Group Investment Management PTE. LTD. Purchases 23,365 Shares of Citigroup Inc. (NYSE:C)

Capital Group Investment Management PTE. LTD. increased its holdings in Citigroup Inc. (NYSE:C) by 148.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,125 shares of the company’s stock after acquiring an additional 23,365 shares during the quarter. Capital Group Investment Management PTE. LTD.’s holdings in Citigroup were worth $2,754,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in C. Capital International Investors raised its position in shares of Citigroup by 148.6% in the 4th quarter. Capital International Investors now owns 4,524,890 shares of the company’s stock worth $318,507,000 after acquiring an additional 2,704,783 shares in the last quarter. Capital International Sarl grew its stake in Citigroup by 166.4% in the fourth quarter. Capital International Sarl now owns 272,666 shares of the company’s stock valued at $19,193,000 after purchasing an additional 170,311 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its stake in Citigroup by 13.4% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,043,324 shares of the company’s stock valued at $143,802,000 after purchasing an additional 242,067 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Citigroup by 9.2% during the fourth quarter. Canada Pension Plan Investment Board now owns 2,488,981 shares of the company’s stock valued at $175,199,000 after buying an additional 210,733 shares during the last quarter. Finally, GKV Capital Management Co. Inc. purchased a new stake in shares of Citigroup during the fourth quarter valued at about $70,000. 71.72% of the stock is currently owned by institutional investors.

Citigroup Trading Up 1.8 %

Citigroup stock opened at $63.23 on Friday. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.74. The stock has a 50-day moving average price of $71.47 and a 200 day moving average price of $70.91. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $119.01 billion, a price-to-earnings ratio of 10.63, a price-to-earnings-growth ratio of 0.64 and a beta of 1.29.

Citigroup (NYSE:C) last released its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.84 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business had revenue of $21.60 billion for the quarter, compared to the consensus estimate of $21.34 billion. Sell-side analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup declared that its Board of Directors has authorized a stock buyback plan on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to reacquire up to 13.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.54%. The ex-dividend date is Monday, May 5th. Citigroup’s dividend payout ratio is currently 37.65%.

Insider Buying and Selling at Citigroup

In related news, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the sale, the chief financial officer now owns 217,331 shares in the company, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sara Wechter sold 15,125 shares of Citigroup stock in a transaction 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 $8,893,277.80. The trade was a 12.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,590 shares of company stock worth $8,523,149. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on C shares. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. reduced their price target on Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Oppenheimer decreased their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Evercore ISI dropped their target price on Citigroup from $79.00 to $76.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 1st. Finally, The Goldman Sachs Group decreased their price target on Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and an average target price of $84.61.

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.