Citigroup Inc. (NYSE:C) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System lowered its position in Citigroup Inc. (NYSE:C) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 572,436 shares of the company’s stock after selling 5,300 shares during the quarter. State of Michigan Retirement System’s holdings in Citigroup were worth $40,294,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in C. Swedbank AB lifted its holdings in shares of Citigroup by 1.3% during the 3rd quarter. Swedbank AB now owns 4,378,833 shares of the company’s stock worth $274,115,000 after acquiring an additional 54,782 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Citigroup by 8.2% in the third quarter. Farther Finance Advisors LLC now owns 22,313 shares of the company’s stock valued at $1,397,000 after buying an additional 1,683 shares in the last quarter. Confluence Wealth Services Inc. purchased a new stake in shares of Citigroup during the third quarter valued at approximately $264,000. Van ECK Associates Corp lifted its holdings in Citigroup by 23.0% in the 3rd quarter. Van ECK Associates Corp now owns 362,931 shares of the company’s stock worth $22,901,000 after buying an additional 67,768 shares in the last quarter. Finally, BSW Wealth Partners lifted its stake in shares of Citigroup by 4.1% in the third quarter. BSW Wealth Partners now owns 7,902 shares of the company’s stock worth $495,000 after acquiring an additional 308 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Trading Down 3.5 %

Shares of NYSE C opened at $77.14 on Tuesday. The company’s fifty day moving average is $77.87 and its 200-day moving average is $69.49. 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 $145.37 billion, a price-to-earnings ratio of 12.96, a P/E/G ratio of 0.64 and a beta of 1.44. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74.

Citigroup (NYSE:C) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. During the same quarter in the previous year, the firm posted $0.84 earnings per share. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. Equities research analysts predict that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 2.90%. Citigroup’s dividend payout ratio (DPR) is 37.65%.

Citigroup announced that its board has approved a share repurchase program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes 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 stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. The Goldman Sachs Group increased their price target on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Wells Fargo & Company increased their price objective on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Evercore ISI lifted their target price on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Finally, StockNews.com raised Citigroup from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Insider Buying and Selling

In other news, insider Sara Wechter sold 15,125 shares of Citigroup 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 owns 109,780 shares in the company, valued at approximately $8,893,277.80. This trade represents a 12.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Anand Selvakesari sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the completion of the sale, the chief operating officer now owns 229,180 shares in the company, valued at $18,586,498. This represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 103,590 shares of company stock valued at $8,523,149. Company insiders own 0.08% of the company’s stock.

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.