Pictet Asset Management Holding SA Sells 36,116 Shares of Citigroup Inc. (NYSE:C)

Pictet Asset Management Holding SA lessened its stake 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 SEC. The firm owned 883,777 shares of the company’s stock after selling 36,116 shares during the period. Pictet Asset Management Holding SA’s holdings in Citigroup were worth $62,209,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. raised its holdings in Citigroup by 19.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 874,714 shares of the company’s stock valued at $61,571,000 after acquiring an additional 145,218 shares in the last quarter. New Age Alpha Advisors LLC increased its position in shares of Citigroup by 40,603.0% during the fourth quarter. New Age Alpha Advisors LLC now owns 66,753 shares of the company’s stock valued at $4,699,000 after purchasing an additional 66,589 shares during the period. Providence Capital Advisors LLC raised its stake in shares of Citigroup by 319,310.3% in the fourth quarter. Providence Capital Advisors LLC now owns 92,629 shares of the company’s stock valued at $6,520,000 after purchasing an additional 92,600 shares in the last quarter. Easterly Investment Partners LLC lifted its position in Citigroup by 20.6% in 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 acquired a new stake in Citigroup during the fourth quarter worth $1,935,599,000. 71.72% of the stock is owned by institutional investors and hedge funds.

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 stock was 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 directly owns 217,331 shares of the company’s stock, valued at $18,084,112.51. The trade was a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sara Wechter sold 15,125 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.01, for a total value of $1,225,276.25. Following the completion of the transaction, the insider now directly owns 109,780 shares in the company, valued at $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 three months, insiders sold 103,590 shares of company stock valued at $8,523,149. 0.08% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Truist Financial began coverage on shares of Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective for the company. Bank of America raised their price target on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. 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 note on Thursday, March 13th. Keefe, Bruyette & Woods raised their target price on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group lowered their price target on Citigroup from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.50.

Citigroup Trading Down 2.2 %

Shares of NYSE C opened at $70.28 on Friday. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.74. The company has a 50-day moving average of $77.06 and a two-hundred day moving average of $70.72. The company has a market cap of $132.28 billion, a PE ratio of 11.81, a P/E/G ratio of 0.64 and a beta of 1.43. 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 quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.12. The firm had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. 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 EPS. As a group, equities analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup announced that its Board of Directors has approved a share repurchase plan on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 13.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors 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 yield of 3.19%. Citigroup’s payout ratio is 37.65%.

About Citigroup

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.