Nuveen Asset Management LLC Acquires 46,646 Shares of Citigroup Inc. (NYSE:C)

Nuveen Asset Management LLC lifted its holdings in shares of Citigroup Inc. (NYSE:C) by 0.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,454,775 shares of the company’s stock after purchasing an additional 46,646 shares during the quarter. Nuveen Asset Management LLC owned 0.71% of Citigroup worth $947,082,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new position in Citigroup in the 4th quarter valued at about $1,935,599,000. Capital World Investors boosted its position in shares of Citigroup by 455.2% during the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company’s stock worth $2,206,908,000 after acquiring an additional 25,705,141 shares in the last quarter. FMR LLC increased its stake in Citigroup by 29.7% in the fourth quarter. FMR LLC now owns 34,362,176 shares of the company’s stock valued at $2,418,754,000 after acquiring an additional 7,863,718 shares during the last quarter. Swedbank AB raised its position in Citigroup by 90.2% during the fourth quarter. Swedbank AB now owns 8,326,745 shares of the company’s stock valued at $586,120,000 after purchasing an additional 3,947,912 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Citigroup during the fourth quarter worth $198,231,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Citigroup

In related news, insider Sara Wechter sold 15,125 shares of Citigroup stock in a transaction on 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Cunningham Dugan sold 4,417 shares of the business’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total transaction of $301,504.42. Following the completion of the transaction, the director now owns 13,048 shares in the company, valued at approximately $890,656.48. The trade was a 25.29% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 108,007 shares of company stock worth $8,824,653. Insiders own 0.08% of the company’s stock.

Citigroup Stock Up 0.9%

NYSE:C opened at $75.55 on Wednesday. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market cap of $142.20 billion, a PE ratio of 12.70, a P/E/G ratio of 0.64 and a beta of 1.30. The firm’s 50 day simple moving average is $67.70 and its 200 day simple moving average is $71.69.

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

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

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.96%. The ex-dividend date is Monday, May 5th. Citigroup’s payout ratio is presently 35.39%.

Analyst Upgrades and Downgrades

C has been the topic of several recent analyst reports. Bank of America decreased their price target on Citigroup from $90.00 to $89.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. The Goldman Sachs Group decreased their target price on Citigroup from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, March 19th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $92.00 target price (down previously from $96.00) on shares of Citigroup in a report on Wednesday, April 16th. Oppenheimer raised their price target on shares of Citigroup from $91.00 to $94.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Finally, Truist Financial lowered their price objective on shares of Citigroup from $84.00 to $79.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.04.

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.