Te Ahumairangi Investment Management Ltd Has $10.56 Million Stock Position in Citigroup Inc. (NYSE:C)

Te Ahumairangi Investment Management Ltd reduced its stake in shares of Citigroup Inc. (NYSE:C) by 26.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 150,062 shares of the company’s stock after selling 52,629 shares during the quarter. Citigroup makes up 2.2% of Te Ahumairangi Investment Management Ltd’s holdings, making the stock its 9th largest position. Te Ahumairangi Investment Management Ltd’s holdings in Citigroup were worth $10,563,000 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 the stock. Norges Bank acquired a new stake in shares of Citigroup in the 4th quarter worth $1,935,599,000. Franklin Resources Inc. raised its stake in Citigroup by 18.5% in the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after buying an additional 4,680,713 shares during the last quarter. Swedbank AB raised its stake in Citigroup by 90.2% in the fourth quarter. Swedbank AB now owns 8,326,745 shares of the company’s stock valued at $586,120,000 after buying an additional 3,947,912 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Citigroup in the fourth quarter worth about $198,231,000. Finally, Nordea Investment Management AB grew its stake in shares of Citigroup by 32.2% during the fourth quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock worth $501,994,000 after acquiring an additional 1,731,527 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Insider Activity

In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction on 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 transaction, the chief operating officer now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark Mason sold 58,465 shares of Citigroup 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 sale, the chief financial officer now owns 217,331 shares in the company, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,590 shares of company stock worth $8,523,149 in the last ninety days. Company insiders own 0.08% of the company’s stock.

Citigroup Stock Down 0.7 %

Shares of C stock opened at $70.48 on Wednesday. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. The stock has a market cap of $132.66 billion, a P/E ratio of 11.85, a P/E/G ratio of 0.64 and a beta of 1.43. The stock has a 50 day moving average of $76.66 and a 200 day moving average of $71.00. 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 (NYSE:C) last posted its earnings results 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. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same period in the previous year, the firm earned $0.84 EPS. The business’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, sell-side analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

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

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were given a $0.56 dividend. The ex-dividend date was Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.18%. Citigroup’s dividend payout ratio (DPR) is currently 37.65%.

Wall Street Analyst Weigh In

Several brokerages recently commented on C. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price objective (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. The Goldman Sachs Group dropped their price objective on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th. Evercore ISI reduced their target price on Citigroup from $79.00 to $76.00 and set an “in-line” rating for the company in a research note on Tuesday. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Finally, Truist Financial began coverage on Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective for the company. Four equities research 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, the company has an average rating of “Moderate Buy” and an average target price of $84.29.

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.