New York State Teachers Retirement System Sells 109,289 Shares of Citigroup Inc. (NYSE:C)

New York State Teachers Retirement System lessened its holdings in Citigroup Inc. (NYSE:C) by 6.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,619,842 shares of the company’s stock after selling 109,289 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of Citigroup worth $114,021,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Core Alternative Capital grew its holdings in Citigroup by 83.4% during the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after purchasing an additional 171 shares during the period. Northwest Investment Counselors LLC acquired a new position in Citigroup during the third quarter valued at approximately $28,000. Legacy Investment Solutions LLC acquired a new position in Citigroup during the third quarter valued at approximately $31,000. Webster Bank N. A. grew its holdings in Citigroup by 150.0% during the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after purchasing an additional 300 shares during the period. Finally, GHP Investment Advisors Inc. boosted its holdings in shares of Citigroup by 184.0% in the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after buying an additional 368 shares during the period. Institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on C shares. Oppenheimer reduced their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Evercore ISI upped their price target on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. The Goldman Sachs Group upped their price target on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Morgan Stanley upped their price target on shares of Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Stock Performance

NYSE C opened at $82.06 on Friday. 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 firm’s fifty day moving average price is $75.44 and its two-hundred day moving average price is $67.61. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $82.91. The firm has a market capitalization of $155.19 billion, a P/E ratio of 13.79, a price-to-earnings-growth ratio of 0.65 and a beta of 1.44.

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

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s payout ratio is presently 37.65%.

Citigroup declared that its Board of Directors has authorized a stock buyback plan on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 13.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.