Schroder Investment Management Group Cuts Stock Holdings in Citigroup Inc. (NYSE:C)

Schroder Investment Management Group lowered its holdings in Citigroup Inc. (NYSE:C) by 40.2% in the 4th quarter, HoldingsChannel reports. The firm owned 1,105,128 shares of the company’s stock after selling 742,740 shares during the quarter. Schroder Investment Management Group’s holdings in Citigroup were worth $77,790,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Blake Schutter Theil Wealth Advisors LLC grew its holdings in shares of Citigroup by 1.6% during the 4th quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company’s stock worth $608,000 after purchasing an additional 135 shares during the period. Hemington Wealth Management grew its holdings in shares of Citigroup by 10.9% in the fourth quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock valued at $97,000 after purchasing an additional 136 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in shares of Citigroup by 3.4% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company’s stock worth $289,000 after acquiring an additional 137 shares in the last quarter. Rakuten Securities Inc. increased its holdings in Citigroup by 2.4% during the 4th quarter. Rakuten Securities Inc. now owns 5,953 shares of the company’s stock worth $419,000 after purchasing an additional 139 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of Citigroup by 1.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock worth $592,000 after buying an additional 140 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

C stock opened at $70.28 on Monday. The firm has a market cap of $132.28 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The stock has a 50-day simple moving average of $77.06 and a 200-day simple moving average of $70.81. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96.

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

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s dividend payout ratio is currently 37.65%.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on C. Truist Financial assumed coverage on Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target on the stock. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods boosted their price objective on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. StockNews.com downgraded shares of Citigroup from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $83.00 price target (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $84.50.

Insider Transactions at Citigroup

In related news, CFO Mark Mason sold 58,465 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $83.21, for a total value of $4,864,872.65. Following the completion of the sale, the chief financial officer now directly owns 217,331 shares of the company’s stock, valued at $18,084,112.51. The trade was a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sara Wechter sold 15,125 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $81.01, for a total value of $1,225,276.25. Following the sale, the insider now directly owns 109,780 shares in the company, valued at approximately $8,893,277.80. This represents a 12.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 103,590 shares of company stock valued at $8,523,149. 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.