Utah Retirement Systems Sells 3,100 Shares of Citigroup Inc. (NYSE:C)

Utah Retirement Systems lowered its stake in shares of Citigroup Inc. (NYSE:C) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 313,965 shares of the company’s stock after selling 3,100 shares during the quarter. Utah Retirement Systems’ holdings in Citigroup were worth $22,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in C. Lido Advisors LLC lifted its holdings in shares of Citigroup by 432.9% during the fourth quarter. Lido Advisors LLC now owns 137,801 shares of the company’s stock worth $9,700,000 after purchasing an additional 111,943 shares during the period. Northern Trust Corp lifted its holdings in shares of Citigroup by 13.9% during the fourth quarter. Northern Trust Corp now owns 20,232,550 shares of the company’s stock worth $1,424,169,000 after purchasing an additional 2,467,958 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Citigroup by 16.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 2,454,296 shares of the company’s stock worth $172,758,000 after purchasing an additional 350,508 shares during the period. Bellwether Advisors LLC acquired a new stake in shares of Citigroup during the fourth quarter worth about $72,000. Finally, Beacon Pointe Advisors LLC lifted its holdings in shares of Citigroup by 10.9% during the fourth quarter. Beacon Pointe Advisors LLC now owns 72,466 shares of the company’s stock worth $5,101,000 after purchasing an additional 7,138 shares during the period. Institutional investors own 71.72% of the company’s stock.

Insider Buying and Selling

In other Citigroup news, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction that occurred on 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 sale, the chief financial officer now owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. The trade was 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 the SEC website. Also, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 229,180 shares in the company, valued at $18,586,498. This represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,590 shares of company stock valued at $8,523,149 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

Citigroup Stock Up 0.9 %

Shares of NYSE:C opened at $68.90 on Wednesday. The company has a market capitalization of $129.68 billion, a PE ratio of 11.58, a P/E/G ratio of 0.64 and a beta of 1.29. 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 Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. The firm has a 50 day simple moving average of $68.82 and a 200-day simple moving average of $71.15.

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

Citigroup announced that its board has initiated a share buyback plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 13.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be paid a dividend of $0.56 per share. The ex-dividend date is Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.25%. Citigroup’s dividend payout ratio (DPR) is 35.39%.

Analyst Ratings Changes

C has been the subject of a number of research reports. Bank of America decreased their target price on Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Royal Bank of Canada reduced their price target on Citigroup from $85.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. StockNews.com cut Citigroup from a “buy” rating to a “hold” rating in a research report on Sunday, March 30th. Finally, The Goldman Sachs Group reduced their price target on Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and a consensus target price of $84.04.

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.