Mercer Global Advisors Inc. ADV Sells 33,016 Shares of Citigroup Inc. (NYSE:C)

Mercer Global Advisors Inc. ADV lowered its holdings in Citigroup Inc. (NYSE:C) by 13.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 221,653 shares of the company’s stock after selling 33,016 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Citigroup were worth $15,602,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Core Alternative Capital increased its position in shares of 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 buying an additional 171 shares during the period. Creative Capital Management Investments LLC bought a new stake in Citigroup during the 4th quarter worth approximately $35,000. Webster Bank N. A. lifted its stake in Citigroup by 150.0% in the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after purchasing an additional 300 shares in the last quarter. Sierra Ocean LLC bought a new position in Citigroup in the 4th quarter valued at $37,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in shares of Citigroup during the 4th quarter valued at $39,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Piper Sandler reissued an “overweight” rating and set a $77.00 price objective (down previously from $83.00) on shares of Citigroup in a research note on Wednesday, April 16th. Royal Bank of Canada dropped their price target on Citigroup from $85.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. Bank of America decreased their price objective on shares of Citigroup from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. The Goldman Sachs Group dropped their target price on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Finally, Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.04.

Insider Buying and Selling

In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the completion of the transaction, the chief operating officer now owns 229,180 shares of the company’s stock, valued at approximately $18,586,498. This trade represents a 11.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Mason sold 58,465 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $83.21, for a total value of $4,864,872.65. Following the completion of the sale, the chief financial officer now directly owns 217,331 shares in the company, valued at approximately $18,084,112.51. This represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 108,007 shares of company stock valued at $8,824,653 over the last ninety days. Company insiders own 0.08% of the company’s stock.

Citigroup Stock Up 3.6 %

Shares of Citigroup stock opened at $70.57 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. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74. The company has a market cap of $132.82 billion, a P/E ratio of 11.86, a PEG ratio of 0.64 and a beta of 1.29. The company’s fifty day simple moving average is $68.24 and its two-hundred day simple moving average is $71.20.

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

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Monday, May 5th. Citigroup’s payout ratio is presently 35.39%.

Citigroup declared that its board has initiated a stock repurchase program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to buy up to 13.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

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.