Foundry Partners LLC Sells 48,320 Shares of Citigroup Inc. (NYSE:C)

Foundry Partners LLC decreased its position in Citigroup Inc. (NYSE:C) by 6.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 663,106 shares of the company’s stock after selling 48,320 shares during the quarter. Citigroup accounts for approximately 2.3% of Foundry Partners LLC’s holdings, making the stock its 2nd largest position. Foundry Partners LLC’s holdings in Citigroup were worth $46,676,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in C. American Century Companies Inc. lifted its holdings in shares of Citigroup by 3.4% in the 4th quarter. American Century Companies Inc. now owns 352,948 shares of the company’s stock worth $24,844,000 after purchasing an additional 11,674 shares during the last quarter. Brookstone Capital Management increased its position in Citigroup by 340.6% in the fourth quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock worth $2,536,000 after buying an additional 27,856 shares during the period. Inspire Trust Co. N.A. lifted its stake in Citigroup by 34.8% in the third quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock valued at $4,852,000 after buying an additional 20,000 shares during the last quarter. FNY Investment Advisers LLC boosted its holdings in shares of Citigroup by 168.7% during the fourth quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock valued at $1,376,000 after acquiring an additional 12,280 shares during the period. Finally, HighTower Advisors LLC grew its position in shares of Citigroup by 2.4% during the third quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock worth $22,236,000 after acquiring an additional 8,301 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. The Goldman Sachs Group cut their price objective on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, March 19th. JPMorgan Chase & Co. reduced their price objective on Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a research report on Thursday. Piper Sandler reissued an “overweight” rating and issued a $83.00 price objective (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Morgan Stanley cut their target price on Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, Oppenheimer decreased their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.30.

Insider Buying and Selling at Citigroup

In other news, CFO Mark Mason sold 58,465 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the completion of the transaction, the chief financial officer now owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. This represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $18,586,498. The trade was a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,590 shares of company stock valued at $8,523,149 in the last 90 days. 0.08% of the stock is currently owned by insiders.

Citigroup Trading Down 12.2 %

Shares of NYSE C opened at $63.03 on Friday. The firm has a market capitalization of $118.62 billion, a PE ratio of 10.59, a PEG ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a one year low of $53.51 and a one year 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 business has a 50-day moving average price of $76.08 and a two-hundred day moving average price of $70.95.

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

Citigroup Announces Dividend

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 3.55%. Citigroup’s payout ratio is 37.65%.

Citigroup declared that its Board of Directors has approved a share repurchase plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to purchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

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.