Citigroup Inc. (NYSE:C) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its position in Citigroup Inc. (NYSE:C) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 883,777 shares of the company’s stock after selling 36,116 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Citigroup were worth $62,209,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of C. Nomura Asset Management Co. Ltd. grew its position in Citigroup by 19.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 874,714 shares of the company’s stock worth $61,571,000 after buying an additional 145,218 shares during the last quarter. New Age Alpha Advisors LLC boosted its stake in shares of Citigroup by 40,603.0% during the 4th quarter. New Age Alpha Advisors LLC now owns 66,753 shares of the company’s stock worth $4,699,000 after acquiring an additional 66,589 shares in the last quarter. Providence Capital Advisors LLC grew its holdings in shares of Citigroup by 319,310.3% in the 4th quarter. Providence Capital Advisors LLC now owns 92,629 shares of the company’s stock worth $6,520,000 after acquiring an additional 92,600 shares during the last quarter. Easterly Investment Partners LLC raised its position in shares of Citigroup by 20.6% during the fourth quarter. Easterly Investment Partners LLC now owns 257,428 shares of the company’s stock worth $18,120,000 after purchasing an additional 44,024 shares during the period. Finally, Norges Bank purchased a new stake in shares of Citigroup during the fourth quarter valued at $1,935,599,000. Institutional investors own 71.72% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Mark Mason sold 58,465 shares of Citigroup 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 transaction, the chief financial officer now owns 217,331 shares in the company, valued at $18,084,112.51. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Anand Selvakesari sold 30,000 shares of the company’s 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 sale, the chief operating officer now owns 229,180 shares of the company’s stock, valued at $18,586,498. This trade represents a 11.57 % decrease in their ownership of the stock. 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 quarter. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

C has been the topic of several recent analyst reports. Piper Sandler restated an “overweight” rating and set a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Oppenheimer cut their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods boosted their target price on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Finally, Bank of America raised their target price on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $84.50.

Citigroup Trading Down 2.2 %

NYSE:C opened at $70.28 on Friday. The company has a market capitalization of $132.28 billion, a P/E ratio of 11.81, a P/E/G ratio of 0.64 and a beta of 1.43. The stock’s 50 day moving average price is $77.06 and its 200 day moving average price is $70.72. 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 Inc. has a 52 week low of $53.51 and a 52 week high of $84.74.

Citigroup (NYSE:C) last announced its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.22 by $0.12. The company 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%. Citigroup’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.84 EPS. On average, research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup declared that its board has authorized a stock repurchase program on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to reacquire up to 13.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Citigroup Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 3.19%. Citigroup’s dividend payout ratio (DPR) is currently 37.65%.

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.