Headlands Technologies LLC Decreases Holdings in Citigroup Inc. (NYSE:C)

Headlands Technologies LLC cut its stake in Citigroup Inc. (NYSE:C - Free Report) by 70.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,312 shares of the company's stock after selling 17,547 shares during the quarter. Headlands Technologies LLC's holdings in Citigroup were worth $515,000 at the end of the most recent quarter.

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Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in Citigroup during the 4th quarter worth approximately $1,935,599,000. Franklin Resources Inc. raised its stake in shares of Citigroup by 18.5% during the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company's stock valued at $1,998,976,000 after purchasing an additional 4,680,713 shares during the period. Swedbank AB lifted its position in shares of Citigroup by 90.2% during the fourth quarter. Swedbank AB now owns 8,326,745 shares of the company's stock worth $586,120,000 after purchasing an additional 3,947,912 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Citigroup in the fourth quarter valued at $198,231,000. Finally, Nordea Investment Management AB grew its holdings in Citigroup by 32.2% during the 4th quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company's stock valued at $501,994,000 after purchasing an additional 1,731,527 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company's stock.

Citigroup Stock Performance

Shares of NYSE C opened at $63.03 on Friday. The stock has a market capitalization 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 firm's 50-day moving average price is $76.08 and its two-hundred day moving average price is $70.95. Citigroup Inc. has a 52-week low of $53.51 and a 52-week high of $84.74. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50.

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Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.22 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same quarter in the previous year, the firm posted $0.84 EPS. The business's revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.55%. Citigroup's dividend payout ratio (DPR) is presently 37.65%.

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Citigroup announced that its board has authorized a share repurchase program on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to purchase up to 13.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

C has been the subject of a number of analyst reports. Evercore ISI decreased their price objective on shares of Citigroup from $79.00 to $76.00 and set an "in-line" rating for the company in a research report on Tuesday. The Goldman Sachs Group lowered their price objective on Citigroup from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, March 19th. Bank of America cut their target price on Citigroup from $90.00 to $89.00 and set a "buy" rating on the stock in a research report on Wednesday. Piper Sandler reissued an "overweight" rating and set a $83.00 price target (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Finally, Barclays raised shares of Citigroup from an "equal weight" rating to an "overweight" rating and upped their price target 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. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $83.30.

Check Out Our Latest Analysis on Citigroup

Insider Activity at Citigroup

In related news, CFO Mark Mason sold 58,465 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 217,331 shares in the company, valued at $18,084,112.51. This represents a 21.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Sara Wechter sold 15,125 shares of the business's stock in a transaction dated 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 sale, the insider now owns 109,780 shares in the company, valued at $8,893,277.80. This trade represents a 12.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 103,590 shares of company stock worth $8,523,149 in the last ninety days. 0.08% of the stock is owned by insiders.

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.

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