Citigroup Inc. (NYSE:C) Holdings Cut by Advanced Portfolio Management LLC

Advanced Portfolio Management LLC lowered its stake in shares of Citigroup Inc. (NYSE:C) by 19.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,134 shares of the company’s stock after selling 18,955 shares during the period. Citigroup accounts for about 6.5% of Advanced Portfolio Management LLC’s investment portfolio, making the stock its 2nd biggest holding. Advanced Portfolio Management LLC’s holdings in Citigroup were worth $5,537,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of C. Blake Schutter Theil Wealth Advisors LLC grew its holdings in Citigroup by 1.6% in the fourth quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company’s stock worth $608,000 after purchasing an additional 135 shares during the last quarter. Hemington Wealth Management grew its stake in Citigroup by 10.9% during the 4th quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock worth $97,000 after buying an additional 136 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in Citigroup by 3.4% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company’s stock valued at $289,000 after buying an additional 137 shares in the last quarter. Rakuten Securities Inc. raised its stake in Citigroup by 2.4% in the fourth quarter. Rakuten Securities Inc. now owns 5,953 shares of the company’s stock valued at $419,000 after buying an additional 139 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in Citigroup by 1.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock worth $592,000 after acquiring an additional 140 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

Shares of NYSE C opened at $70.57 on Friday. The company has a market capitalization of $132.82 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 0.64 and a beta of 1.29. 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 company’s fifty day moving average price is $68.24 and its 200 day moving average price is $71.20. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74.

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

Citigroup Dividend Announcement

The firm also recently disclosed 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 3.17%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup’s dividend payout ratio (DPR) is presently 35.39%.

Citigroup announced that its Board of Directors has approved a share buyback plan on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to repurchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

C has been the subject of several research analyst reports. Morgan Stanley decreased their price objective on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Royal Bank of Canada lowered their price objective on shares of Citigroup from $85.00 to $78.00 and set an “outperform” rating for the company in a research note on Wednesday, April 16th. Piper Sandler reissued an “overweight” rating and issued a $77.00 target price (down from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. Truist Financial lowered their price target on Citigroup from $84.00 to $79.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Finally, The Goldman Sachs Group cut their price objective on Citigroup from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $84.04.

Insider Transactions at Citigroup

In other news, insider Sara Wechter sold 15,125 shares of Citigroup stock in a transaction that occurred on 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 sale, the insider now directly owns 109,780 shares of the company’s stock, valued at $8,893,277.80. The trade was a 12.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John Cunningham Dugan sold 4,417 shares of the stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total value of $301,504.42. Following the completion of the transaction, the director now directly owns 13,048 shares of the company’s stock, valued at approximately $890,656.48. This represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 108,007 shares of company stock valued at $8,824,653 in the last three months. 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.