Deprince Race & Zollo Inc. Sells 1,249 Shares of Citigroup Inc. (NYSE:C)

Deprince Race & Zollo Inc. lessened its position in Citigroup Inc. (NYSE:C) by 0.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 714,046 shares of the company’s stock after selling 1,249 shares during the period. Citigroup comprises approximately 1.0% of Deprince Race & Zollo Inc.’s holdings, making the stock its 22nd biggest holding. Deprince Race & Zollo Inc.’s holdings in Citigroup were worth $50,262,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of C. Norges Bank bought a new position in shares of Citigroup during the 4th quarter worth approximately $1,935,599,000. Capital World Investors grew its position in Citigroup by 455.2% in the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company’s stock valued at $2,206,908,000 after purchasing an additional 25,705,141 shares in the last quarter. FMR LLC increased its stake in Citigroup by 29.7% in 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 during the last quarter. Swedbank AB lifted its position in Citigroup by 90.2% during the 4th quarter. Swedbank AB now owns 8,326,745 shares of the company’s stock worth $586,120,000 after buying an additional 3,947,912 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Citigroup during the 4th quarter worth about $198,231,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

C has been the subject of several recent research reports. Evercore ISI reduced their price target on Citigroup from $79.00 to $76.00 and set an “in-line” rating for the company in a research report on Tuesday, April 1st. Piper Sandler restated an “overweight” rating and set a $77.00 target price (down from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. Bank of America cut their price target on shares of Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. StockNews.com lowered shares of Citigroup from a “buy” rating to a “hold” rating in a research note on Sunday, March 30th. Finally, Oppenheimer raised their target price on shares of Citigroup from $91.00 to $94.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.04.

Citigroup Price Performance

NYSE:C opened at $70.30 on Thursday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $132.32 billion, a price-to-earnings ratio of 11.82, a P/E/G ratio of 0.64 and a beta of 1.30. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.74. The firm’s 50-day simple moving average is $67.68 and its 200 day simple moving average is $71.33.

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

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Monday, May 5th. Citigroup’s payout ratio is presently 35.39%.

Citigroup announced that its Board of Directors has approved a share buyback plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to repurchase up to 13.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Sara Wechter sold 15,125 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was 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. This trade represents a 12.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Anand Selvakesari sold 30,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief operating officer now owns 229,180 shares in the company, valued at approximately $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 90 days, insiders have sold 108,007 shares of company stock worth $8,824,653. Corporate insiders own 0.08% of the company’s stock.

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.