Handelsbanken Fonder AB Sells 16,735 Shares of Citigroup Inc. (NYSE:C)

Handelsbanken Fonder AB reduced its position in shares of Citigroup Inc. (NYSE:C) by 2.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 677,758 shares of the company’s stock after selling 16,735 shares during the period. Handelsbanken Fonder AB’s holdings in Citigroup were worth $48,114,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in Citigroup by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company’s stock worth $2,853,484,000 after purchasing an additional 667,357 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Citigroup by 2.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company’s stock valued at $2,714,359,000 after buying an additional 815,003 shares during the period. FMR LLC lifted its holdings in Citigroup by 29.7% in the fourth quarter. FMR LLC now owns 34,362,176 shares of the company’s stock worth $2,418,754,000 after buying an additional 7,863,718 shares during the period. Franklin Resources Inc. boosted its position in Citigroup by 9.3% during the 4th quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company’s stock valued at $2,311,048,000 after acquiring an additional 2,804,850 shares in the last quarter. Finally, Capital World Investors grew its holdings 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 during the period. 71.72% of the stock is owned by institutional investors.

Insider Buying and Selling at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total value of $301,504.42. Following the transaction, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on C shares. TD Cowen initiated coverage on Citigroup in a research note on Thursday, May 15th. They issued a “hold” rating and a $83.00 target price for the company. Truist Financial lowered their price objective on Citigroup from $84.00 to $79.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Piper Sandler reaffirmed 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. Evercore ISI lowered their price target on shares of Citigroup from $79.00 to $76.00 and set an “in-line” rating for the company in a research report on Tuesday, April 1st. Finally, Royal Bank of Canada dropped their price objective on shares of Citigroup from $85.00 to $78.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 16th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $83.97.

Citigroup Trading Down 0.1%

NYSE:C opened at $78.17 on Tuesday. The stock has a market cap of $146.00 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 0.64 and a beta of 1.33. 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 company’s 50 day moving average price is $69.55 and its 200-day moving average price is $72.84. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.74.

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

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Monday, May 5th. Citigroup’s dividend payout ratio (DPR) is 35.39%.

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.