Trajan Wealth LLC Reduces Stock Position in Citigroup Inc. (NYSE:C)

Trajan Wealth LLC decreased its holdings in shares of Citigroup Inc. (NYSE:C) by 10.6% during the fourth quarter, HoldingsChannel reports. The fund owned 11,146 shares of the company’s stock after selling 1,318 shares during the quarter. Trajan Wealth LLC’s holdings in Citigroup were worth $785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insiders Place Their Bets

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Anand Selvakesari sold 30,000 shares of the company’s stock in a transaction that occurred on 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 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. In the last quarter, insiders have sold 103,590 shares of company stock worth $8,523,149. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on C. StockNews.com lowered Citigroup from a “buy” rating to a “hold” rating in a research note on Sunday, March 30th. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Oppenheimer cut their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Evercore ISI dropped their price objective on shares of Citigroup from $79.00 to $76.00 and set an “in-line” rating for the company in a report on Tuesday, April 1st. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $92.00 price target (down previously from $96.00) on shares of Citigroup in a research report on Wednesday. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $84.61.

Citigroup Stock Up 1.8 %

Shares of NYSE:C opened at $63.23 on Friday. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The stock’s 50-day moving average is $71.12 and its 200 day moving average is $70.98. The company has a market cap of $119.01 billion, a PE ratio of 10.63, a P/E/G ratio of 0.64 and a beta of 1.29.

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

Citigroup announced that its Board of Directors has authorized a stock buyback plan on Wednesday, January 15th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the company to reacquire up to 13.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Citigroup Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 3.54%. Citigroup’s payout ratio is 35.39%.

Citigroup Company 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.