Citigroup Inc. (NYSE:C) Shares Sold by Titleist Asset Management LLC

Titleist Asset Management LLC cut its holdings in shares of Citigroup Inc. (NYSE:C) by 22.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,583 shares of the company’s stock after selling 2,162 shares during the period. Titleist Asset Management LLC’s holdings in Citigroup were worth $534,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of C. Norges Bank purchased a new stake in shares of Citigroup during the fourth quarter worth about $1,935,599,000. Franklin Resources Inc. raised its holdings in shares of Citigroup by 18.5% during the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after acquiring an additional 4,680,713 shares during the last quarter. Swedbank AB lifted its position in shares of Citigroup by 90.2% in the fourth quarter. Swedbank AB now owns 8,326,745 shares of the company’s stock valued at $586,120,000 after acquiring an additional 3,947,912 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Citigroup in the fourth quarter worth approximately $198,231,000. Finally, Nordea Investment Management AB increased its position in shares of Citigroup by 32.2% during the fourth quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock worth $501,994,000 after purchasing an additional 1,731,527 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

Citigroup stock opened at $58.00 on Monday. The company’s 50 day simple moving average is $75.61 and its 200-day simple moving average is $71.11. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The company has a market capitalization of $109.17 billion, a price-to-earnings ratio of 9.75, a price-to-earnings-growth ratio of 0.64 and a beta of 1.29.

Citigroup (NYSE:C) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The company had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. During the same quarter in the previous year, the company earned $0.84 earnings per share. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, equities research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup declared that its Board of Directors has initiated a share repurchase program on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to reacquire up to 13.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Citigroup Announces Dividend

The company 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 $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup’s dividend payout ratio is currently 37.65%.

Insiders Place Their Bets

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was 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 in the company, valued at $18,084,112.51. This represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.10, for a total value of $2,433,000.00. Following the completion of the sale, the chief operating officer now directly owns 229,180 shares in the company, valued at $18,586,498. This represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,590 shares of company stock worth $8,523,149 over the last three months. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on C shares. Oppenheimer lowered their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $70.00 to $95.00 in a report on Monday, January 6th. Evercore ISI dropped their price target on 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, Morgan Stanley reduced their price objective on Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $83.23.

Citigroup 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.