Schroder Investment Management Group Trims Stock Position in Citigroup Inc. (NYSE:C)

Schroder Investment Management Group decreased its holdings in Citigroup Inc. (NYSE:C) by 40.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,105,128 shares of the company’s stock after selling 742,740 shares during the quarter. Schroder Investment Management Group owned 0.06% of Citigroup worth $77,790,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Core Alternative Capital increased its position in Citigroup by 83.4% in the fourth 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 purchased a new stake in Citigroup in the 3rd quarter worth approximately $31,000. Webster Bank N. A. increased its holdings in 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 acquiring an additional 300 shares in the last quarter. Creative Capital Management Investments LLC bought a new stake in Citigroup during the 4th quarter worth approximately $35,000. Finally, Sierra Ocean LLC purchased a new position in Citigroup during the fourth quarter valued at approximately $37,000. 71.72% of the stock is currently owned by institutional investors.

Citigroup Price Performance

Citigroup stock opened at $70.28 on Monday. Citigroup Inc. has a 52-week low of $53.51 and a 52-week high of $84.74. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The firm’s fifty day moving average is $77.06 and its 200 day moving average is $70.81. The company has a market cap of $132.28 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 0.64 and a beta of 1.43.

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

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

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date was Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is 37.65%.

Insider Activity

In related news, insider Sara Wechter sold 15,125 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was 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 in the company, valued at $8,893,277.80. The trade was a 12.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark Mason sold 58,465 shares of the company’s stock in a transaction 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 in the company, valued at $18,084,112.51. This trade represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,590 shares of company stock valued at $8,523,149. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

C has been the topic of several recent analyst reports. Morgan Stanley decreased their price objective on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Truist Financial started coverage on Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Evercore ISI lifted their target price on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group dropped their price target on Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $84.50.

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.