Ameriprise Financial Inc. Sells 127,114 Shares of Citigroup Inc. (NYSE:C)

Ameriprise Financial Inc. lowered its holdings in Citigroup Inc. (NYSE:C) by 0.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 15,660,588 shares of the company’s stock after selling 127,114 shares during the quarter. Ameriprise Financial Inc.’s holdings in Citigroup were worth $1,103,170,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of C. Core Alternative Capital raised its position in Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after buying an additional 171 shares during the last quarter. Webster Bank N. A. grew its stake in shares of Citigroup by 150.0% in the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after acquiring an additional 300 shares in the last quarter. Creative Capital Management Investments LLC purchased a new stake in shares of Citigroup in the fourth quarter valued at about $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. purchased a new position in Citigroup during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on C shares. Bank of America dropped their target price on shares of Citigroup from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Truist Financial dropped their price target on Citigroup from $84.00 to $79.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Royal Bank of Canada lowered their target price on Citigroup from $85.00 to $78.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 16th. Finally, Oppenheimer increased 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. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.04.

Citigroup Stock Performance

Shares of C stock opened at $70.57 on Friday. The firm’s 50 day moving average is $68.24 and its 200 day moving average is $71.25. The stock has a market capitalization of $132.82 billion, a P/E ratio of 11.86, a PEG ratio of 0.64 and a beta of 1.29. 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.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm had revenue of $21.60 billion for the quarter, compared to the consensus estimate of $21.34 billion. On average, sell-side analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Monday, May 5th. Citigroup’s payout ratio is presently 35.39%.

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

Insider Activity

In other news, COO Anand Selvakesari sold 30,000 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $81.10, for a total value of $2,433,000.00. Following the transaction, the chief operating officer now owns 229,180 shares of the company’s stock, valued at approximately $18,586,498. This represents a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 value of $301,504.42. Following the sale, the director now directly owns 13,048 shares of the company’s stock, valued at $890,656.48. This represents a 25.29 % decrease in their position. 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 ninety days. Company insiders own 0.08% of the company’s stock.

About Citigroup

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.