Citigroup Inc. (NYSE:C) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System reduced its stake in shares of Citigroup Inc. (NYSE:C) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,040,508 shares of the company’s stock after selling 106,656 shares during the quarter. California State Teachers Retirement System owned about 0.16% of Citigroup worth $214,021,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Core Alternative Capital increased its stake in shares of Citigroup by 83.4% during the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after acquiring an additional 171 shares during the period. Webster Bank N. A. raised its stake in shares of Citigroup by 150.0% in the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after buying an additional 300 shares in the last quarter. Creative Capital Management Investments LLC acquired a new stake in shares of Citigroup in the fourth quarter valued at $35,000. Sierra Ocean LLC acquired a new position in Citigroup during the fourth quarter worth about $37,000. Finally, Runnymede Capital Advisors Inc. bought a new stake in Citigroup in the fourth quarter worth about $39,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on C shares. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Truist Financial dropped their price target on Citigroup from $84.00 to $79.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Royal Bank of Canada reduced their price objective on shares of Citigroup from $85.00 to $78.00 and set an “outperform” rating for the company in a research note on Wednesday, April 16th. Morgan Stanley cut their price target 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. Finally, Piper Sandler restated an “overweight” rating and issued a $77.00 target price (down previously from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and an average price target of $84.61.

Insider Transactions at Citigroup

In related news, COO Anand Selvakesari sold 30,000 shares of the business’s stock in a transaction 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 sale, the chief operating officer now owns 229,180 shares of the company’s stock, valued at $18,586,498. The trade was a 11.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sara Wechter sold 15,125 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total value of $1,225,276.25. Following the transaction, the insider now owns 109,780 shares of the company’s stock, valued at $8,893,277.80. This represents a 12.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is currently owned by company insiders.

Citigroup Stock Up 0.5 %

C stock opened at $68.47 on Monday. The stock has a market capitalization of $128.88 billion, a price-to-earnings ratio of 11.51, a price-to-earnings-growth ratio of 0.64 and a beta of 1.29. The company has a 50-day moving average of $69.38 and a two-hundred day moving average of $71.15. Citigroup Inc. has a 52-week low of $53.51 and a 52-week 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.

Citigroup (NYSE:C) last issued 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 company had revenue of $21.60 billion for the quarter, compared to the consensus estimate of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. As a group, equities research analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current 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. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 3.27%. Citigroup’s dividend payout ratio is 35.39%.

Citigroup announced that its Board of Directors has initiated a share repurchase program on Wednesday, January 15th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the company to buy up to 13.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership 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.