EP Wealth Advisors LLC Lowers Stock Holdings in Citigroup Inc. (NYSE:C)

EP Wealth Advisors LLC cut its position in shares of Citigroup Inc. (NYSE:C) by 1.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,968 shares of the company’s stock after selling 427 shares during the quarter. EP Wealth Advisors LLC’s holdings in Citigroup were worth $2,532,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Citigroup in the 4th quarter worth approximately $1,935,599,000. Capital World Investors grew its stake in shares of Citigroup by 455.2% during the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company’s stock valued at $2,206,908,000 after buying an additional 25,705,141 shares during the last quarter. FMR LLC increased its holdings in shares of Citigroup by 29.7% in the fourth quarter. FMR LLC now owns 34,362,176 shares of the company’s stock worth $2,418,754,000 after buying an additional 7,863,718 shares during the period. Swedbank AB boosted its holdings in Citigroup by 90.2% during the 4th 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 during the period. Finally, Raymond James Financial Inc. bought a new position in Citigroup during the 4th quarter worth approximately $198,231,000. Institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on C. Oppenheimer increased their price objective on Citigroup from $91.00 to $94.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Bank of America dropped their target price on shares of Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Piper Sandler reiterated an “overweight” rating and issued a $77.00 price objective (down previously from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $92.00 target price (down from $96.00) on shares of Citigroup in a research note on Wednesday, April 16th. Finally, StockNews.com cut shares of Citigroup from a “buy” rating to a “hold” rating in a report on Sunday, March 30th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and an average target price of $84.04.

Insider Buying and Selling at Citigroup

In other news, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were 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 of the company’s stock, valued at $18,084,112.51. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Sara Wechter sold 15,125 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the transaction, the insider now directly owns 109,780 shares of the company’s stock, valued at $8,893,277.80. The trade was a 12.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 108,007 shares of company stock worth $8,824,653. 0.08% of the stock is owned by corporate insiders.

Citigroup Trading Up 1.9 %

Shares of NYSE C opened at $71.61 on Friday. The stock has a market cap of $134.78 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 0.64 and a beta of 1.30. 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 Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The firm has a 50-day moving average of $67.57 and a 200 day moving average of $71.40.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.12. The company had revenue of $21.60 billion for the quarter, compared to the consensus estimate of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. As a group, sell-side analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The company 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 $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Monday, May 5th. Citigroup’s payout ratio is 35.39%.

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