Citigroup Inc. (NYSE:C) Stock Position Decreased by Pzena Investment Management LLC

Pzena Investment Management LLC lowered its stake in Citigroup Inc. (NYSE:C) by 9.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,734,181 shares of the company’s stock after selling 1,392,384 shares during the period. Citigroup accounts for about 3.3% of Pzena Investment Management LLC’s holdings, making the stock its 6th largest holding. Pzena Investment Management LLC owned 0.73% of Citigroup worth $966,749,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in C. Core Alternative Capital grew its stake in shares of Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after buying an additional 171 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in Citigroup in the 3rd quarter valued at approximately $31,000. Webster Bank N. A. lifted its position in Citigroup by 150.0% in the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after acquiring an additional 300 shares in the last quarter. Creative Capital Management Investments LLC bought a new position in Citigroup in the 4th quarter valued at approximately $35,000. Finally, Sierra Ocean LLC bought a new position in Citigroup in the 4th quarter valued at approximately $37,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Insider Activity

In related news, CFO Mark Mason sold 58,465 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $83.21, for a total value of $4,864,872.65. Following the sale, the chief financial officer now directly owns 217,331 shares in the company, valued at approximately $18,084,112.51. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sara Wechter sold 15,125 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 109,780 shares in the company, 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. Insiders have sold 103,590 shares of company stock worth $8,523,149 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

Citigroup Stock Performance

NYSE:C opened at $67.22 on Tuesday. The stock has a 50-day simple moving average of $77.84 and a two-hundred day simple moving average of $69.83. 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 quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $126.67 billion, a PE ratio of 11.30, a P/E/G ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.22 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same period in the previous year, the business earned $0.84 earnings per share. The business’s revenue was up 12.3% on a year-over-year basis. Analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup announced that its Board of Directors has initiated a share repurchase plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 13.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were given a $0.56 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 3.33%. Citigroup’s payout ratio is 37.65%.

Analyst Ratings Changes

Several equities analysts recently issued reports on C shares. Morgan Stanley upped their price objective on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Truist Financial started coverage on Citigroup in a research report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective on the stock. Keefe, Bruyette & Woods increased their price target on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. Wells Fargo & Company lifted their price objective on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, The Goldman Sachs Group lifted their price objective on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

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.