Deutsche Bank AG Reduces Holdings in Citigroup Inc. (NYSE:C)

Deutsche Bank AG lowered its position in Citigroup Inc. (NYSE:C) by 6.8% during the fourth quarter, HoldingsChannel reports. The firm owned 6,159,635 shares of the company’s stock after selling 448,073 shares during the period. Deutsche Bank AG’s holdings in Citigroup were worth $433,577,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Blake Schutter Theil Wealth Advisors LLC lifted its position in Citigroup by 1.6% during the fourth quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company’s stock worth $608,000 after buying an additional 135 shares in the last quarter. Hemington Wealth Management raised its holdings in shares of Citigroup by 10.9% during the 4th quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock worth $97,000 after acquiring an additional 136 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in shares of Citigroup by 3.4% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company’s stock valued at $289,000 after acquiring an additional 137 shares during the last quarter. Rakuten Securities Inc. grew its holdings in shares of Citigroup by 2.4% in the fourth quarter. Rakuten Securities Inc. now owns 5,953 shares of the company’s stock valued at $419,000 after purchasing an additional 139 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its position in Citigroup by 1.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock worth $592,000 after purchasing an additional 140 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Trading Up 1.9 %

Shares of C stock opened at $71.61 on Friday. The stock has a market capitalization of $134.78 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 0.64 and a beta of 1.30. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74. 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 company has a 50 day moving average price of $67.57 and a 200 day moving average price of $71.40.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.84 by $0.12. The business had revenue of $21.60 billion during the quarter, compared to the consensus estimate of $21.34 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. Equities research analysts predict 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 given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup’s dividend payout ratio is currently 35.39%.

Citigroup declared that its Board of Directors 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 buy up to 13.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have weighed in on C. Morgan Stanley decreased their target price on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Royal Bank of Canada lowered their price objective on Citigroup from $85.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $92.00 target price (down previously from $96.00) on shares of Citigroup in a research report on Wednesday, April 16th. Truist Financial lowered their price target on Citigroup from $84.00 to $79.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Finally, Oppenheimer boosted their price objective on shares of Citigroup from $91.00 to $94.00 and gave the company an “outperform” rating in a report on Monday, April 28th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.04.

Insider Activity

In related news, COO Anand Selvakesari sold 30,000 shares of the business’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 transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Mason sold 58,465 shares of the company’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 value of $4,864,872.65. Following the completion of the transaction, the chief financial officer now directly owns 217,331 shares of the company’s stock, valued at $18,084,112.51. This trade represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 108,007 shares of company stock worth $8,824,653. 0.08% of the stock is currently owned by company insiders.

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.