Citigroup Inc. (NYSE:C) Shares Sold by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. lowered its position in shares of Citigroup Inc. (NYSE:C) by 1.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,306 shares of the company’s stock after selling 609 shares during the period. Summit Investment Advisors Inc.’s holdings in Citigroup were worth $4,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in C. Geode Capital Management LLC increased its stake in Citigroup by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company’s stock worth $2,853,484,000 after acquiring an additional 667,357 shares during the last quarter. FMR LLC increased its position in shares of Citigroup by 29.7% during the 4th quarter. FMR LLC now owns 34,362,176 shares of the company’s stock worth $2,418,754,000 after purchasing an additional 7,863,718 shares during the last quarter. Franklin Resources Inc. raised its holdings in Citigroup by 9.3% in the 4th quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company’s stock valued at $2,311,048,000 after buying an additional 2,804,850 shares during the period. Fisher Asset Management LLC lifted its position in Citigroup by 3.6% in the fourth quarter. Fisher Asset Management LLC now owns 30,014,183 shares of the company’s stock valued at $2,112,698,000 after buying an additional 1,043,826 shares during the last quarter. Finally, Norges Bank purchased a new position in Citigroup during the fourth quarter worth about $1,935,599,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Up 0.2 %

Citigroup stock opened at $61.73 on Monday. The stock’s fifty day moving average is $72.91 and its two-hundred day moving average is $71.01. The stock has a market cap of $116.19 billion, a PE ratio of 10.38, a P/E/G ratio of 0.64 and a beta of 1.29. Citigroup Inc. has a 1-year low of $53.51 and a 1-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.

Citigroup (NYSE:C) last posted its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.12. The firm had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.84 earnings per share. On average, sell-side analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup announced that its board has approved a stock buyback program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 3.63%. Citigroup’s dividend payout ratio is currently 37.65%.

Insider Buying and Selling at Citigroup

In other news, COO Anand Selvakesari sold 30,000 shares of the company’s 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 of the company’s stock, valued at approximately $18,586,498. This represents a 11.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sara Wechter sold 15,125 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $81.01, for a total value of $1,225,276.25. Following the transaction, the insider now directly owns 109,780 shares in the company, valued at approximately $8,893,277.80. This represents a 12.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,590 shares of company stock worth $8,523,149 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on C. Oppenheimer reduced their price target 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. Evercore ISI decreased their price target on Citigroup from $79.00 to $76.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 1st. Truist Financial cut their price objective on Citigroup from $85.00 to $84.00 and set a “buy” rating on the stock in a report on Friday, April 4th. StockNews.com downgraded Citigroup from a “buy” rating to a “hold” rating in a research report on Sunday, March 30th. Finally, Piper Sandler reiterated an “overweight” rating and set a $83.00 price target (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $84.54.

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.