Janus Henderson Group PLC Sells 326,094 Shares of Citigroup Inc. (NYSE:C)

Janus Henderson Group PLC lowered its stake in shares of Citigroup Inc. (NYSE:C) by 34.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 626,815 shares of the company’s stock after selling 326,094 shares during the quarter. Janus Henderson Group PLC’s holdings in Citigroup were worth $44,132,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Core Alternative Capital lifted its stake 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 stake in 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 purchasing an additional 300 shares during the last quarter. Creative Capital Management Investments LLC bought a new stake in Citigroup in the fourth quarter worth $35,000. Sierra Ocean LLC bought a new position in shares of Citigroup during the fourth quarter valued at about $37,000. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Citigroup during the fourth quarter valued at about $39,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Trading Up 0.9%

NYSE:C opened at $75.55 on Wednesday. The company’s 50 day moving average price is $67.70 and its 200-day moving average price is $71.69. Citigroup Inc. has a 52 week low of $53.51 and a 52 week 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 has a market cap of $142.20 billion, a price-to-earnings ratio of 12.70, a PEG 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 EPS 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 firm had revenue of $21.60 billion for the quarter, compared to analysts’ expectations of $21.34 billion. On average, equities research analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup declared that its board has authorized a stock buyback program on Wednesday, January 15th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 13.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Citigroup Announces Dividend

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 issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup’s payout ratio is 35.39%.

Insider Activity

In related news, Director John Cunningham Dugan sold 4,417 shares of the stock in a transaction that occurred 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 $890,656.48. This represents 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 available at the SEC website. Also, insider Sara Wechter sold 15,125 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the completion of the transaction, the insider now owns 109,780 shares in the company, 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. Insiders have sold a total of 108,007 shares of company stock worth $8,824,653 over the last 90 days. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

C has been the subject of several recent analyst reports. 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 note on Wednesday, April 16th. Oppenheimer boosted their price target on shares of Citigroup from $91.00 to $94.00 and gave the company an “outperform” rating in a research report on Monday, April 28th. StockNews.com cut shares of Citigroup from a “buy” rating to a “hold” rating in a research report on Sunday, March 30th. JPMorgan Chase & Co. reduced their price target 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. Finally, The Goldman Sachs Group reduced their price target on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and an average 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.