Sompo Asset Management Co. Ltd. Sells 14,686 Shares of Citigroup Inc. (NYSE:C)

Sompo Asset Management Co. Ltd. reduced its position in shares of Citigroup Inc. (NYSE:C) by 15.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 79,604 shares of the company’s stock after selling 14,686 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Citigroup were worth $5,603,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of C. American Century Companies Inc. raised its position in Citigroup by 3.4% in the 4th quarter. American Century Companies Inc. now owns 352,948 shares of the company’s stock worth $24,844,000 after buying an additional 11,674 shares during the last quarter. Brookstone Capital Management grew its stake in shares of Citigroup by 340.6% in the fourth quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock worth $2,536,000 after acquiring an additional 27,856 shares during the period. Inspire Trust Co. N.A. raised its holdings in shares of Citigroup by 34.8% during the third quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock valued at $4,852,000 after purchasing an additional 20,000 shares during the last quarter. Invesco Ltd. lifted its position in Citigroup by 13.8% during the fourth quarter. Invesco Ltd. now owns 16,247,095 shares of the company’s stock valued at $1,143,633,000 after purchasing an additional 1,970,300 shares during the period. Finally, FNY Investment Advisers LLC boosted its holdings in Citigroup by 168.7% in the fourth quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock worth $1,376,000 after purchasing an additional 12,280 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on C. Royal Bank of Canada lowered their price target on Citigroup from $85.00 to $78.00 and set an “outperform” rating on the stock in a report on Wednesday, April 16th. Truist Financial dropped their target price on Citigroup from $84.00 to $79.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. StockNews.com lowered shares of Citigroup from a “buy” rating to a “hold” rating in a research report on Sunday, March 30th. Evercore ISI dropped their price objective on shares of Citigroup from $79.00 to $76.00 and set an “in-line” rating on the stock in a report on Tuesday, April 1st. Finally, Oppenheimer reduced their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $84.61.

Citigroup Price Performance

NYSE:C opened at $64.59 on Wednesday. The business’s 50-day simple moving average is $70.40 and its two-hundred day simple moving average is $71.01. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.74. The stock has a market cap of $121.57 billion, a PE ratio of 10.86, a P/E/G ratio of 0.64 and a beta of 1.29. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last issued 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 return on equity of 6.62% and a net margin of 7.43%. The company had revenue of $21.60 billion for the quarter, compared to the consensus estimate of $21.34 billion. As a group, analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

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 issued a $0.56 dividend. The ex-dividend date is Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a yield of 3.47%. Citigroup’s dividend payout ratio is currently 35.39%.

Citigroup announced that its board has initiated a stock repurchase plan on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 13.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Citigroup news, 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 value 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. This trade represents a 12.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Anand Selvakesari sold 30,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the sale, the chief operating officer now owns 229,180 shares in the company, valued at $18,586,498. This represents a 11.57 % decrease in their ownership of the stock. 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 in the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

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.