Gamco Investors INC. ET AL Trims Stock Position in Citigroup Inc. (NYSE:C)

Gamco Investors INC. ET AL trimmed its holdings in Citigroup Inc. (NYSE:C) by 11.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 48,722 shares of the company’s stock after selling 6,410 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Citigroup were worth $3,430,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bridgewater Associates LP increased its position in shares of Citigroup by 75.7% in the fourth quarter. Bridgewater Associates LP now owns 1,568,352 shares of the company’s stock valued at $110,396,000 after buying an additional 675,714 shares in the last quarter. AGP Franklin LLC acquired a new stake in Citigroup in the 4th quarter valued at $2,367,000. Chiron Investment Management LLC purchased a new stake in Citigroup in the 4th quarter worth $803,000. Canada Post Corp Registered Pension Plan acquired a new position in Citigroup during the fourth quarter worth $5,509,000. Finally, CreativeOne Wealth LLC lifted its holdings in Citigroup by 32.5% during the fourth quarter. CreativeOne Wealth LLC now owns 15,882 shares of the company’s stock valued at $1,118,000 after purchasing an additional 3,896 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Price Performance

Shares of C stock opened at $63.23 on Friday. The firm’s 50-day moving average is $71.47 and its two-hundred day moving average is $70.91. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $119.01 billion, a PE ratio of 10.63, a price-to-earnings-growth ratio of 0.64 and a beta of 1.29.

Citigroup (NYSE:C) last released its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12. The firm had revenue of $21.60 billion for the quarter, compared to analysts’ expectations of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup announced that its Board of Directors has initiated a stock buyback program on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 13.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Citigroup Dividend Announcement

The business 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. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 3.54%. Citigroup’s dividend payout ratio (DPR) is currently 37.65%.

Insider Activity at Citigroup

In other news, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction on Thursday, February 13th. The stock was 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 of the company’s stock, valued at approximately $18,586,498. The trade was a 11.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Sara Wechter sold 15,125 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $81.01, for a total value of $1,225,276.25. Following the transaction, the insider now directly owns 109,780 shares in the company, valued at approximately $8,893,277.80. The trade was a 12.11 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 103,590 shares of company stock worth $8,523,149. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

C has been the subject of a number of research reports. Evercore ISI cut their target price on shares of Citigroup from $79.00 to $76.00 and set an “in-line” rating for the company in a research note on Tuesday, April 1st. Oppenheimer cut their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Bank of America decreased 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, April 2nd. Truist Financial dropped their price target on Citigroup from $84.00 to $79.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. decreased their price objective on Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $84.61.

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.