Northwest & Ethical Investments L.P. Has $4.49 Million Holdings in Citigroup Inc. (NYSE:C)

Northwest & Ethical Investments L.P. reduced its holdings in Citigroup Inc. (NYSE:C) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,720 shares of the company’s stock after selling 1,000 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Citigroup were worth $4,485,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Core Alternative Capital lifted its holdings in Citigroup by 83.4% during the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after buying an additional 171 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in Citigroup during the 3rd quarter worth $31,000. Webster Bank N. A. lifted its holdings in Citigroup by 150.0% during 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 position in Citigroup during the 4th quarter worth $35,000. Finally, Sierra Ocean LLC acquired a new position in Citigroup during the 4th quarter worth $37,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction dated 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 directly owns 229,180 shares in the company, valued at $18,586,498. This represents a 11.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mark Mason sold 58,465 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. This represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 103,590 shares of company stock worth $8,523,149. Corporate insiders own 0.08% of the company’s stock.

Citigroup Price Performance

C stock opened at $71.80 on Friday. The stock has a 50-day moving average price of $77.45 and a two-hundred day moving average price of $70.13. The stock has a market cap of $135.31 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. 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.

Citigroup (NYSE:C) last released its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The firm had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The company’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.84 EPS. Equities analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup declared that its board has approved a share buyback program 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 stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date was Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Analyst Upgrades and Downgrades

C has been the topic of several research reports. Truist Financial initiated coverage on Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective on the stock. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods increased their price target on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Piper Sandler reissued an “overweight” rating and issued a $83.00 price target (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Finally, Evercore ISI increased their price target on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and a consensus target price of $83.53.

Citigroup Company 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.