Ethic Inc. Raises Position in Citigroup Inc. (NYSE:C)

Ethic Inc. lifted its stake in Citigroup Inc. (NYSE:C) by 23.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 124,345 shares of the company’s stock after purchasing an additional 23,303 shares during the quarter. Ethic Inc.’s holdings in Citigroup were worth $8,753,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Principal Financial Group Inc. boosted its position in shares of Citigroup by 11.5% during the third quarter. Principal Financial Group Inc. now owns 3,728,261 shares of the company’s stock valued at $233,389,000 after buying an additional 383,534 shares during the period. Fortitude Family Office LLC lifted its stake in shares of Citigroup by 19.6% during the 4th quarter. Fortitude Family Office LLC now owns 1,519 shares of the company’s stock worth $107,000 after acquiring an additional 249 shares during the last quarter. Baker Tilly Wealth Management LLC boosted its holdings in Citigroup by 4.6% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 5,348 shares of the company’s stock valued at $376,000 after acquiring an additional 236 shares during the period. HBW Advisory Services LLC boosted its holdings in Citigroup by 1.2% during the 4th quarter. HBW Advisory Services LLC now owns 48,482 shares of the company’s stock valued at $3,413,000 after acquiring an additional 584 shares during the period. Finally, Graypoint LLC grew its position in Citigroup by 19.0% in the 4th quarter. Graypoint LLC now owns 13,177 shares of the company’s stock valued at $928,000 after acquiring an additional 2,100 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Trading Down 0.3 %

Shares of NYSE C opened at $71.39 on Friday. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.74. The business has a fifty day moving average price of $67.56 and a 200 day moving average price of $71.46. The stock has a market capitalization of $134.37 billion, a P/E ratio of 12.00, 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 (NYSE:C) last released its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 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 business had revenue of $21.60 billion during the quarter, compared to analyst estimates of $21.34 billion. Equities research analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

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 shares. This repurchase authorization permits the company to repurchase up to 13.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup’s payout ratio is presently 35.39%.

Insider Activity

In related news, insider Sara Wechter sold 15,125 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $8,893,277.80. This represents a 12.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total value of $301,504.42. Following the sale, the director now directly owns 13,048 shares of the company’s stock, valued at approximately $890,656.48. This represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 108,007 shares of company stock worth $8,824,653. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on C. Morgan Stanley lowered their target price on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Truist Financial lowered their price objective on shares of Citigroup from $84.00 to $79.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. JPMorgan Chase & Co. reduced their target price on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Piper Sandler reiterated an “overweight” rating and issued a $77.00 price target (down previously from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. Finally, StockNews.com downgraded Citigroup from a “buy” rating to a “hold” rating in a report on Sunday, March 30th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $84.04.

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.