Capital International Inc. CA Boosts Stake in Citigroup Inc. (NYSE:C)

Capital International Inc. CA lifted its stake in Citigroup Inc. (NYSE:C) by 423.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 205,672 shares of the company’s stock after acquiring an additional 166,374 shares during the period. Capital International Inc. CA’s holdings in Citigroup were worth $14,477,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of Citigroup by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company’s stock worth $2,853,484,000 after purchasing an additional 667,357 shares in the last quarter. FMR LLC increased its position in Citigroup by 29.7% during the 4th quarter. FMR LLC now owns 34,362,176 shares of the company’s stock valued at $2,418,754,000 after buying an additional 7,863,718 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Citigroup by 9.3% in the fourth quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company’s stock worth $2,311,048,000 after acquiring an additional 2,804,850 shares in the last quarter. Capital World Investors grew its stake in shares of Citigroup by 455.2% during the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company’s stock worth $2,206,908,000 after acquiring an additional 25,705,141 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Citigroup by 3.6% during the fourth quarter. Fisher Asset Management LLC now owns 30,014,183 shares of the company’s stock valued at $2,112,698,000 after acquiring an additional 1,043,826 shares in the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction dated 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 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 SEC, which is available at this link. Also, insider Sara Wechter sold 15,125 shares of the company’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 sale, the insider now directly owns 109,780 shares of the company’s stock, valued at approximately $8,893,277.80. This represents a 12.11 % 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 quarter. 0.08% of the stock is currently owned by corporate insiders.

Citigroup Trading Up 1.8 %

Shares of NYSE:C opened at $63.23 on Friday. The business’s 50 day moving average price is $71.12 and its 200-day moving average price is $70.98. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The firm 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. 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 (NYSE:C) last announced its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (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 analyst estimates of $21.34 billion. On average, equities research analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup announced that its Board of Directors has initiated a share repurchase program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 13.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.54%. Citigroup’s payout ratio is currently 35.39%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Morgan Stanley dropped their target price on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. The Goldman Sachs Group cut their target price on Citigroup from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, March 19th. Truist Financial dropped their price target on Citigroup from $84.00 to $79.00 and set a “buy” rating on the stock in a research note on Wednesday. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $92.00 price objective (down from $96.00) on shares of Citigroup in a report on Wednesday. Finally, Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and a consensus price target 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.