Ossiam Decreases Stock Position in Citigroup Inc. (NYSE:C)

Ossiam trimmed its holdings in shares of Citigroup Inc. (NYSE:C) by 37.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 844,588 shares of the company’s stock after selling 497,413 shares during the quarter. Citigroup accounts for approximately 1.9% of Ossiam’s investment portfolio, making the stock its 21st biggest position. Ossiam’s holdings in Citigroup were worth $59,451,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank purchased a new stake in Citigroup in the fourth quarter worth approximately $1,935,599,000. Capital World Investors lifted its holdings in shares of Citigroup by 455.2% during 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 during the period. FMR LLC boosted its stake in shares of Citigroup by 29.7% in the 4th quarter. FMR LLC now owns 34,362,176 shares of the company’s stock worth $2,418,754,000 after buying an additional 7,863,718 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Citigroup by 18.5% in the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock worth $1,998,976,000 after acquiring an additional 4,680,713 shares during the period. Finally, Swedbank AB increased its position in Citigroup by 90.2% during the fourth quarter. Swedbank AB now owns 8,326,745 shares of the company’s stock valued at $586,120,000 after acquiring an additional 3,947,912 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Insider Activity

In related news, CFO Mark Mason sold 58,465 shares of the business’s 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 sale, the chief financial officer now owns 217,331 shares in the company, valued at approximately $18,084,112.51. The trade was a 21.20 % decrease in their ownership of the stock. 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 stock in a transaction 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 transaction, the chief operating officer now owns 229,180 shares of the company’s stock, valued at $18,586,498. This trade represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 103,590 shares of company stock worth $8,523,149 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Citigroup Stock Up 1.8 %

NYSE C opened at $63.23 on Friday. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The stock has a market cap of $119.01 billion, a PE ratio of 10.63, a P/E/G ratio of 0.64 and a beta of 1.29. The stock’s 50 day moving average is $71.12 and its 200 day moving average is $70.92.

Citigroup (NYSE:C) last released its earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, topping 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 firm had revenue of $21.60 billion for the quarter, compared to the consensus estimate of $21.34 billion. Research analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup announced that its Board of Directors has authorized a stock buyback program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 13.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Analyst Ratings Changes

C has been the subject of a number of recent research reports. Bank of America cut their price target on Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Evercore ISI cut their target price on shares of Citigroup from $79.00 to $76.00 and set an “in-line” rating for the company in a research report on Tuesday, April 1st. Royal Bank of Canada decreased their price target on shares of Citigroup from $85.00 to $78.00 and set an “outperform” rating on the stock in a research report on Wednesday. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $92.00 price objective (down previously from $96.00) on shares of Citigroup in a research report on Wednesday. Finally, JPMorgan Chase & Co. decreased their target price on Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $84.61.

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.