Janus Henderson Group PLC Trims Position in Citigroup Inc. (NYSE:C)

Janus Henderson Group PLC cut its position in Citigroup Inc. (NYSE:C) by 34.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 626,815 shares of the company’s stock after selling 326,094 shares during the quarter. Janus Henderson Group PLC’s holdings in Citigroup were worth $44,132,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of C. Norges Bank purchased a new position in Citigroup during the fourth quarter valued at $1,935,599,000. Capital World Investors grew its stake in shares of Citigroup by 455.2% in the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company’s stock worth $2,206,908,000 after buying an additional 25,705,141 shares in the last quarter. FMR LLC grew its stake in shares of Citigroup by 29.7% in the 4th 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 in the last quarter. Swedbank AB grew its stake in shares of Citigroup by 90.2% in the 4th quarter. Swedbank AB now owns 8,326,745 shares of the company’s stock worth $586,120,000 after buying an additional 3,947,912 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Citigroup in the 4th quarter worth $198,231,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Up 0.9%

NYSE:C opened at $75.55 on Wednesday. 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. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. 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 50 day moving average is $67.70 and its two-hundred day moving average is $71.69.

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

Citigroup declared that its board has initiated a stock repurchase plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to repurchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is 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 given 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 dividend payout ratio is presently 35.39%.

Insiders Place Their Bets

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction that occurred 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 sale, the director now directly owns 13,048 shares in the company, valued at approximately $890,656.48. The trade was a 25.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the sale, the chief financial officer now owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. The trade was a 21.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 108,007 shares of company stock valued at $8,824,653. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on C shares. Royal Bank of Canada dropped 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. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $92.00 price objective (down from $96.00) on shares of Citigroup in a research note on Wednesday, April 16th. The Goldman Sachs Group dropped their price objective on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th. Piper Sandler reissued an “overweight” rating and issued a $77.00 price objective (down from $83.00) on shares of Citigroup in a research note on Wednesday, April 16th. Finally, Morgan Stanley lowered their target price on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Four investment 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 currently has a consensus rating of “Moderate Buy” and an average price target of $84.04.

About Citigroup

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.