Citigroup Inc. (NYSE:C) Shares Sold by Letko Brosseau & Associates Inc.

Letko Brosseau & Associates Inc. cut its stake in Citigroup Inc. (NYSE:C) by 11.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,198,862 shares of the company’s stock after selling 159,047 shares during the quarter. Citigroup makes up approximately 1.6% of Letko Brosseau & Associates Inc.’s portfolio, making the stock its 21st largest holding. Letko Brosseau & Associates Inc.’s holdings in Citigroup were worth $84,388,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

C has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $92.00 price objective (down previously from $96.00) on shares of Citigroup in a research report on Wednesday, April 16th. Evercore ISI decreased their price target on shares of Citigroup from $79.00 to $76.00 and set an “in-line” rating for the company in a research report on Tuesday, April 1st. StockNews.com downgraded shares of Citigroup from a “buy” rating to a “hold” rating in a research report on Sunday, March 30th. Piper Sandler reiterated an “overweight” rating and set a $77.00 target price (down previously from $83.00) on shares of Citigroup in a research note on Wednesday, April 16th. Finally, Bank of America decreased 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. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.04.

Insider Activity

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the completion of the sale, the chief financial officer now directly owns 217,331 shares in the company, valued at $18,084,112.51. This represents a 21.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sara Wechter sold 15,125 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 109,780 shares of the company’s stock, valued at approximately $8,893,277.80. This trade represents a 12.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 108,007 shares of company stock worth $8,824,653 over the last ninety days. Insiders own 0.08% of the company’s stock.

Citigroup Stock Down 0.3%

Citigroup stock opened at $71.39 on Monday. The company has a market capitalization of $134.37 billion, a P/E ratio of 12.00, a P/E/G ratio of 0.64 and a beta of 1.30. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.74. The firm’s fifty day simple moving average is $67.56 and its 200-day simple moving average is $71.57.

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

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup’s dividend payout ratio is 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 outstanding shares. This buyback authorization allows the company to purchase up to 13.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

About Citigroup

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.