Boston Partners Trims Position in Citigroup Inc. (NYSE:C)

Boston Partners cut its position in Citigroup Inc. (NYSE:C) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,668,363 shares of the company’s stock after selling 25,242 shares during the period. Boston Partners owned about 0.09% of Citigroup worth $117,587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brookstone Capital Management increased its stake in shares of Citigroup by 340.6% in the fourth quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock worth $2,536,000 after purchasing an additional 27,856 shares in the last quarter. Inspire Trust Co. N.A. increased its stake in shares of Citigroup by 34.8% in the third quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock worth $4,852,000 after purchasing an additional 20,000 shares in the last quarter. FNY Investment Advisers LLC boosted its position in shares of Citigroup by 168.7% during the fourth quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock worth $1,376,000 after acquiring an additional 12,280 shares during the last quarter. HighTower Advisors LLC boosted its position in shares of Citigroup by 2.4% during the third quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock worth $22,236,000 after acquiring an additional 8,301 shares during the last quarter. Finally, Candriam S.C.A. boosted its position in shares of Citigroup by 12.7% during the fourth quarter. Candriam S.C.A. now owns 200,860 shares of the company’s stock worth $14,139,000 after acquiring an additional 22,657 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Trading Up 0.4 %

Shares of C opened at $70.24 on Wednesday. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. The company has a market cap of $132.37 billion, a P/E ratio of 11.81, a P/E/G 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. The company’s fifty day simple moving average is $77.51 and its 200-day simple moving average is $70.11.

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

Citigroup Dividend Announcement

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

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on C. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Truist Financial began coverage on shares of Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price for the company. The Goldman Sachs Group upped their target price on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. StockNews.com upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Tuesday, March 11th. Finally, Bank of America upped their target price on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $83.93.

Insider Activity

In related news, insider Sara Wechter sold 15,125 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were 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 trade represents a 12.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Anand Selvakesari sold 30,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,590 shares of company stock valued at $8,523,149. 0.08% of the stock is currently owned by company insiders.

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.