Prudential PLC Has $20.14 Million Position in Citigroup Inc. (NYSE:C)

Prudential PLC cut its position in shares of Citigroup Inc. (NYSE:C) by 13.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 286,135 shares of the company’s stock after selling 42,762 shares during the period. Prudential PLC’s holdings in Citigroup were worth $20,141,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of C. Benjamin Edwards Inc. boosted its position in Citigroup by 1,188.9% during the third quarter. Benjamin Edwards Inc. now owns 11,561 shares of the company’s stock worth $724,000 after purchasing an additional 10,664 shares during the period. Holocene Advisors LP acquired a new position in Citigroup in the 3rd quarter valued at about $1,270,000. HighTower Advisors LLC raised its holdings in Citigroup by 2.4% in the 3rd quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock valued at $22,236,000 after acquiring an additional 8,301 shares during the period. Janus Henderson Group PLC lifted its position in Citigroup by 280.2% during the third quarter. Janus Henderson Group PLC now owns 952,909 shares of the company’s stock worth $59,655,000 after acquiring an additional 702,300 shares during the last quarter. Finally, IHT Wealth Management LLC boosted its holdings in shares of Citigroup by 41.9% during the third quarter. IHT Wealth Management LLC now owns 17,905 shares of the company’s stock worth $1,116,000 after acquiring an additional 5,285 shares during the period. 71.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on C shares. Oppenheimer dropped their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Morgan Stanley lowered their price objective on Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Piper Sandler reissued an “overweight” rating and issued a $83.00 target price (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Keefe, Bruyette & Woods raised their price target on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Finally, Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $70.00 to $95.00 in a report on Monday, January 6th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.30.

Citigroup Price Performance

Shares of C stock opened at $63.03 on Friday. The business has a fifty day simple moving average of $76.08 and a 200 day simple moving average of $70.95. The company has a market cap of $118.62 billion, a P/E ratio of 10.59, a P/E/G ratio of 0.64 and a beta of 1.43. 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 Inc. has a twelve month low of $53.51 and a twelve month high of $84.74.

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

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.55%. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

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

Insider Activity

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 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 trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 completion of 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 103,590 shares of company stock worth $8,523,149. Insiders own 0.08% of the company’s stock.

Citigroup Company 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.