State of Alaska Department of Revenue Trims Stake in Citigroup Inc. $C

State of Alaska Department of Revenue lowered its stake in Citigroup Inc. (NYSE:C) by 10.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 177,911 shares of the company’s stock after selling 19,670 shares during the quarter. State of Alaska Department of Revenue’s holdings in Citigroup were worth $20,760,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Capital World Investors grew its stake in shares of Citigroup by 6.5% in the 3rd quarter. Capital World Investors now owns 47,262,626 shares of the company’s stock worth $4,797,292,000 after buying an additional 2,871,074 shares during the last quarter. Fisher Asset Management LLC lifted its position in Citigroup by 2.7% in the 3rd quarter. Fisher Asset Management LLC now owns 33,040,513 shares of the company’s stock valued at $3,353,612,000 after acquiring an additional 879,056 shares in the last quarter. Franklin Resources Inc. boosted its stake in Citigroup by 1.8% during the 3rd quarter. Franklin Resources Inc. now owns 32,870,559 shares of the company’s stock valued at $3,336,362,000 after purchasing an additional 580,027 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Citigroup by 17.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 28,125,995 shares of the company’s stock worth $2,854,788,000 after purchasing an additional 4,211,099 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Citigroup by 1.6% in the 3rd quarter. Legal & General Group Plc now owns 13,844,014 shares of the company’s stock worth $1,405,167,000 after purchasing an additional 219,100 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Insider Buying and Selling at Citigroup

In other news, insider Cantu Ernesto Torres sold 43,173 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $111.09, for a total transaction of $4,796,088.57. Following the transaction, the insider directly owned 45,835 shares of the company’s stock, valued at $5,091,810.15. This represents a 48.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.11% of the stock is owned by insiders.

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Wall Street remains broadly constructive: multiple recent analyst ratings are Buy/Overweight and the six-month median price target (~$131) sits above current levels — a supportive backdrop if Citi delivers solid Q1 trading and IBD revenue. Citigroup Stock (C) Opinions on Upcoming Earnings Report
• Neutral Sentiment: Earnings preview — Citigroup reports Q1 before the open on Apr 14; market focus is on trading revenue and investment-banking fees, which could swing the stock either way depending on beats/misses and management guidance. What To Expect From Citigroup’s (C) Q1 Earnings
• Neutral Sentiment: Citi’s research activity is visible in the headlines (examples: analyst note changes at auto dealers), but those are about coverage of other companies and are unlikely to move C materially on their own. Citi Retains a Buy Rating on Group 1 Automotive, Inc. (GPI)
• Negative Sentiment: Insider selling and social-media caution: QuiverQuant flags multiple insider sales (including senior executives) and elevated “panic/euphoria” chatter, which can pressure sentiment heading into the print. Citigroup Stock (C) Opinions on Upcoming Earnings Report
• Negative Sentiment: Large institutional trimming: recent quarter-level data show major asset managers materially reducing positions in C (notably a large removal by UBS AM), which can weigh on stock if outflows persist or signal lower conviction. Citigroup Stock (C) Opinions on Upcoming Earnings Report

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Wells Fargo & Company set a $150.00 price target on Citigroup in a research note on Monday, January 5th. Jefferies Financial Group assumed coverage on Citigroup in a research note on Thursday, March 26th. They issued a “buy” rating and a $135.00 price target for the company. Oppenheimer decreased their price target on Citigroup from $144.00 to $132.00 and set an “outperform” rating for the company in a research note on Friday, March 27th. HSBC restated a “buy” rating and issued a $87.00 price target on shares of Citigroup in a research note on Wednesday, January 7th. Finally, Keefe, Bruyette & Woods boosted their price target on Citigroup from $118.00 to $131.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $127.41.

Citigroup Price Performance

NYSE C opened at $124.32 on Monday. The business’s fifty day moving average price is $113.39 and its 200-day moving average price is $109.33. The stock has a market capitalization of $213.20 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 0.64 and a beta of 1.11. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.00 and a quick ratio of 1.00. Citigroup Inc. has a 1-year low of $59.92 and a 1-year high of $125.48.

Citigroup (NYSE:C) last released its quarterly earnings results on Wednesday, January 14th. The company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.16. The firm had revenue of $19.87 billion for the quarter, compared to analysts’ expectations of $20.99 billion. Citigroup had a return on equity of 8.28% and a net margin of 8.50%.The company’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.34 EPS. On average, equities analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Monday, May 4th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, May 4th. Citigroup’s dividend payout ratio is presently 34.43%.

Citigroup Company Profile

Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.

Citi’s principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.