Public Employees Retirement Association of Colorado Trims Stock Position in Citigroup Inc. (NYSE:C)

Public Employees Retirement Association of Colorado lowered its stake in Citigroup Inc. (NYSE:C) by 4.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 253,252 shares of the company’s stock after selling 10,892 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Citigroup were worth $17,826,000 at the end of the most recent reporting period.

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

Citigroup Stock Up 0.5 %

Shares of Citigroup stock opened at $68.47 on Monday. 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 stock has a 50-day moving average price of $69.38 and a 200 day moving average price of $71.15. The company has a market cap of $128.88 billion, a P/E ratio of 11.51, a P/E/G ratio of 0.64 and a beta of 1.29.

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

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

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup’s dividend payout ratio is 35.39%.

Insider Transactions at Citigroup

In other news, CFO Mark Mason sold 58,465 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were 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 in the company, valued at approximately $18,084,112.51. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Sara Wechter sold 15,125 shares of the stock in a transaction dated 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 sale, the insider now owns 109,780 shares of the company’s stock, valued at approximately $8,893,277.80. The trade was a 12.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on C shares. Piper Sandler reiterated an “overweight” rating and set a $77.00 price objective (down previously from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Evercore ISI lowered their target price on Citigroup from $79.00 to $76.00 and set an “in-line” rating for the company in a research note on Tuesday, April 1st. Bank of America decreased their price target on Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Citigroup has a consensus rating of “Moderate Buy” and a consensus target price of $84.61.

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.