First Manhattan CO. LLC. Sells 2,242 Shares of Citigroup Inc. (NYSE:C)

First Manhattan CO. LLC. lowered its holdings in shares of Citigroup Inc. (NYSE:C) by 7.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 27,254 shares of the company’s stock after selling 2,242 shares during the period. First Manhattan CO. LLC.’s holdings in Citigroup were worth $1,918,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC lifted its position in Citigroup by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company’s stock worth $2,853,484,000 after acquiring an additional 667,357 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Citigroup by 2.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company’s stock worth $2,714,359,000 after purchasing an additional 815,003 shares during the period. FMR LLC lifted its holdings in Citigroup by 29.7% during the 4th quarter. FMR LLC now owns 34,362,176 shares of the company’s stock worth $2,418,754,000 after purchasing an additional 7,863,718 shares during the last quarter. Franklin Resources Inc. boosted its stake in Citigroup by 9.3% in the 4th quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company’s stock valued at $2,311,048,000 after purchasing an additional 2,804,850 shares during the period. Finally, Capital World Investors grew its holdings in Citigroup by 455.2% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

C has been the subject of a number of recent research reports. Truist Financial reduced their target price 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. Morgan Stanley decreased their target price on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. The Goldman Sachs Group lowered their target price on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th. Royal Bank of Canada reduced their price target on Citigroup from $85.00 to $78.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 16th. Finally, Piper Sandler restated 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. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $84.04.

Citigroup Stock Performance

NYSE:C opened at $71.39 on Friday. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The stock’s 50-day simple moving average is $67.56 and its 200 day simple moving average is $71.51. The firm has a market capitalization of $134.37 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 0.64 and a beta of 1.30.

Citigroup (NYSE:C) last posted 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. The company had revenue of $21.60 billion for the quarter, compared to the consensus estimate of $21.34 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. On average, analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

The company also recently declared 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 3.14%. The ex-dividend date is Monday, May 5th. Citigroup’s payout ratio is 35.39%.

Citigroup announced that its board has approved a share repurchase plan on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 13.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Activity at Citigroup

In other news, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total transaction of $301,504.42. Following the transaction, the director now owns 13,048 shares in the company, valued at approximately $890,656.48. The trade was a 25.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Mason sold 58,465 shares of the 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 sale, 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 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 in the last 90 days. 0.08% of the stock is owned by corporate insiders.

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.