Deprince Race & Zollo Inc. Cuts Position in Citigroup Inc. (NYSE:C)

Deprince Race & Zollo Inc. trimmed its holdings in Citigroup Inc. (NYSE:C) by 0.2% in the fourth quarter, HoldingsChannel reports. The fund owned 714,046 shares of the company’s stock after selling 1,249 shares during the period. Citigroup makes up 1.0% of Deprince Race & Zollo Inc.’s investment portfolio, making the stock its 22nd biggest position. Deprince Race & Zollo Inc.’s holdings in Citigroup were worth $50,262,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in C. Core Alternative Capital boosted its holdings in Citigroup by 83.4% in the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after purchasing an additional 171 shares during the last quarter. Webster Bank N. A. lifted its holdings in shares of Citigroup by 150.0% in the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after buying an additional 300 shares in the last quarter. Creative Capital Management Investments LLC bought a new stake in shares of Citigroup in the fourth quarter worth about $35,000. Sierra Ocean LLC bought a new stake in Citigroup in the 4th quarter worth approximately $37,000. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Citigroup in the 4th quarter valued at about $39,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Citigroup

In other news, CFO Mark Mason sold 58,465 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $83.21, for a total value of $4,864,872.65. Following the completion of the transaction, the chief financial officer now owns 217,331 shares of the company’s stock, valued at $18,084,112.51. The trade was a 21.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Cunningham Dugan sold 4,417 shares of the company’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the completion of the transaction, the director now directly owns 13,048 shares of the company’s stock, valued at approximately $890,656.48. The trade was a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 108,007 shares of company stock valued at $8,824,653. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have issued reports on C shares. Royal Bank of Canada dropped their target price on Citigroup from $85.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. JPMorgan Chase & Co. reduced their price target on Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $92.00 price target (down from $96.00) on shares of Citigroup in a report on Wednesday, April 16th. Piper Sandler reaffirmed an “overweight” rating and set a $77.00 target price (down previously from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. Finally, StockNews.com lowered Citigroup from a “buy” rating to a “hold” rating in a research note on Sunday, March 30th. Four 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.04.

Citigroup Stock Performance

C stock opened at $70.30 on Thursday. 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 quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $132.32 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 0.64 and a beta of 1.30. The stock’s fifty day moving average is $67.68 and its two-hundred day moving average is $71.33.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $21.34 billion. On average, research analysts predict that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup declared that its Board of Directors has authorized a share repurchase program on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 13.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be paid a $0.56 dividend. The ex-dividend date is Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 3.19%. Citigroup’s dividend payout ratio is presently 35.39%.

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.