633,767 Shares in Citigroup Inc. (NYSE:C) Bought by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. purchased a new stake in shares of Citigroup Inc. (NYSE:C) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 633,767 shares of the company’s stock, valued at approximately $44,659,000.

Other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in Citigroup by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company’s stock worth $2,853,484,000 after acquiring an additional 667,357 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Citigroup by 9.3% during the fourth quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company’s stock worth $2,311,048,000 after purchasing an additional 2,804,850 shares during the period. Fisher Asset Management LLC grew its stake in shares of Citigroup by 3.6% in the fourth quarter. Fisher Asset Management LLC now owns 30,014,183 shares of the company’s stock worth $2,112,698,000 after purchasing an additional 1,043,826 shares during the last quarter. Norges Bank acquired a new stake in Citigroup in the fourth quarter valued at $1,935,599,000. Finally, Swedbank AB raised its position in Citigroup by 90.2% during the 4th 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 during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Citigroup

In other news, insider Sara Wechter sold 15,125 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 109,780 shares of the company’s stock, valued at $8,893,277.80. This represents a 12.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Anand Selvakesari sold 30,000 shares of the business’s 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 transaction, the chief operating officer now directly owns 229,180 shares in the company, valued at approximately $18,586,498. This represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 103,590 shares of company stock valued at $8,523,149 over the last 90 days. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Bank of America decreased their price target on Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Wednesday. StockNews.com lowered shares of Citigroup from a “buy” rating to a “hold” rating in a report on Sunday, March 30th. Oppenheimer reduced their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Truist Financial lowered their target price on shares of Citigroup from $85.00 to $84.00 and set a “buy” rating for the company in a research note on Friday. 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 research report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.23.

Citigroup Stock Performance

NYSE C opened at $58.00 on Friday. The company has a market cap of $109.17 billion, a P/E ratio of 9.75, a PEG ratio of 0.64 and a beta of 1.29. The company has a fifty day simple moving average of $75.61 and a 200 day simple moving average of $70.95. 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 Inc. has a 12-month low of $53.51 and a 12-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 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 company had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same period in the previous year, the firm posted $0.84 earnings per share. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. Sell-side analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

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

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.86%. Citigroup’s dividend payout ratio is presently 37.65%.

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.