DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Cuts Position in Citigroup Inc. (NYSE:C)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lowered its holdings in shares of Citigroup Inc. (NYSE:C) by 43.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 268,922 shares of the company’s stock after selling 206,801 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in Citigroup were worth $18,929,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of C. Principal Financial Group Inc. raised its holdings in shares of Citigroup by 11.5% during the third quarter. Principal Financial Group Inc. now owns 3,728,261 shares of the company’s stock valued at $233,389,000 after acquiring an additional 383,534 shares during the last quarter. Fortitude Family Office LLC raised its stake in Citigroup by 19.6% in the 4th quarter. Fortitude Family Office LLC now owns 1,519 shares of the company’s stock valued at $107,000 after purchasing an additional 249 shares during the last quarter. Baker Tilly Wealth Management LLC lifted its holdings in Citigroup by 4.6% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 5,348 shares of the company’s stock valued at $376,000 after purchasing an additional 236 shares in the last quarter. HBW Advisory Services LLC boosted its stake in Citigroup by 1.2% during the 4th quarter. HBW Advisory Services LLC now owns 48,482 shares of the company’s stock worth $3,413,000 after purchasing an additional 584 shares during the last quarter. Finally, Graypoint LLC grew its holdings in shares of Citigroup by 19.0% during the fourth quarter. Graypoint LLC now owns 13,177 shares of the company’s stock worth $928,000 after buying an additional 2,100 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Mark Mason sold 58,465 shares of the firm’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 directly owns 217,331 shares in the company, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sara Wechter sold 15,125 shares of the business’s stock in a transaction 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 transaction, the insider now owns 109,780 shares of the company’s stock, valued at approximately $8,893,277.80. The trade was a 12.11 % 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 valued at $8,824,653 in the last ninety days. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

C has been the topic of a number of recent research reports. Bank of America lowered their price target 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. Piper Sandler restated an “overweight” rating and issued a $77.00 price target (down from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. StockNews.com downgraded Citigroup from a “buy” rating to a “hold” rating in a research report on Sunday, March 30th. JPMorgan Chase & Co. dropped their target price on Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Finally, Royal Bank of Canada reduced their price target on Citigroup from $85.00 to $78.00 and set an “outperform” rating on the stock in a report on Wednesday, April 16th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $84.04.

Citigroup Stock Up 1.9 %

Shares of NYSE C opened at $71.61 on Friday. Citigroup Inc. has a 52-week low of $53.51 and a 52-week high of $84.74. The business’s 50 day moving average is $67.57 and its two-hundred day moving average is $71.40. The firm has a market cap of $134.78 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 0.64 and a beta of 1.30. The company has a quick ratio of 0.96, a current 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. The firm had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Research analysts predict that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup declared that its board has initiated a stock buyback program on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to purchase up to 13.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup’s payout ratio is currently 35.39%.

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.