Capital Research Global Investors Buys 500,000 Shares of Citigroup Inc. (NYSE:C)

by · The Cerbat Gem

Capital Research Global Investors raised its stake in shares of Citigroup Inc. (NYSE:C – Free Report) by 16.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,504,500 shares of the company’s stock after buying an additional 500,000 shares during the quarter. Capital Research Global Investors owned about 0.19% of Citigroup worth $246,682,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of C. Capital World Investors lifted its position 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 acquiring an additional 25,705,141 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Citigroup by 57.6% during the fourth quarter. First Trust Advisors LP now owns 1,463,015 shares of the company’s stock valued at $102,982,000 after buying an additional 534,884 shares during the last quarter. Forum Financial Management LP increased its holdings in Citigroup by 20.2% in the 4th quarter. Forum Financial Management LP now owns 30,338 shares of the company’s stock worth $2,135,000 after buying an additional 5,089 shares in the last quarter. GeoWealth Management LLC lifted its stake in Citigroup by 10.2% during the 4th quarter. GeoWealth Management LLC now owns 11,338 shares of the company’s stock valued at $798,000 after acquiring an additional 1,050 shares during the period. Finally, Capital International Ltd. CA grew its stake in shares of Citigroup by 146.5% in the fourth quarter. Capital International Ltd. CA now owns 184,434 shares of the company’s stock worth $12,982,000 after acquiring an additional 109,627 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the sale, the chief operating officer now directly owns 229,180 shares of the company’s stock, valued at $18,586,498. The trade was a 11.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark Mason sold 58,465 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 217,331 shares in the company, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,590 shares of company stock worth $8,523,149. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on C shares. StockNews.com downgraded shares of Citigroup from a “buy” rating to a “hold” rating in a research report on Sunday, March 30th. The Goldman Sachs Group reduced their price objective on Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $92.00 price target (down previously from $96.00) on shares of Citigroup in a research report on Wednesday. Evercore ISI reduced their target price on shares of Citigroup from $79.00 to $76.00 and set an “in-line” rating for the company in a report on Tuesday, April 1st. Finally, JPMorgan Chase & Co. dropped their price target on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and a consensus price target of $84.61.

View Our Latest Stock Report on Citigroup

Citigroup Trading Up 1.8 %

Shares of C opened at $63.23 on Friday. The firm has a market cap of $119.01 billion, a P/E ratio of 10.63, a price-to-earnings-growth ratio of 0.64 and a beta of 1.29. 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 company has a 50 day simple moving average of $71.12 and a two-hundred day simple moving average of $70.98.

Citigroup (NYSE:C – Get Free Report) last posted its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.12. The company had revenue of $21.60 billion during the quarter, compared to analysts’ expectations of $21.34 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. On average, equities analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

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

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.24 annualized dividend and a dividend yield of 3.54%. Citigroup’s dividend payout ratio (DPR) is 35.39%.

Citigroup Profile

(Free Report)

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.

See Also

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