Aigen Investment Management LP Reduces Holdings in Citigroup Inc. (NYSE:C)

Aigen Investment Management LP lowered its position in Citigroup Inc. (NYSE:C) by 51.1% in the 4th quarter, HoldingsChannel reports. The fund owned 23,064 shares of the company’s stock after selling 24,071 shares during the period. Aigen Investment Management LP’s holdings in Citigroup were worth $1,623,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the business. Franklin Resources Inc. increased its position 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 buying an additional 4,680,713 shares during the period. Swedbank AB increased its holdings 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 acquiring an additional 3,947,912 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its stake in Citigroup by 70.0% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock worth $283,692,000 after purchasing an additional 1,865,628 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Citigroup by 32.2% in 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 during the period. Finally, ACR Alpine Capital Research LLC grew its position in shares of Citigroup by 42.5% during the 4th quarter. ACR Alpine Capital Research LLC now owns 5,760,128 shares of the company’s stock valued at $405,455,000 after purchasing an additional 1,716,844 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Down 6.4 %

C stock opened at $72.25 on Wednesday. The stock has a market capitalization of $136.16 billion, a P/E ratio of 12.14, a P/E/G ratio of 0.64 and a beta of 1.44. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.74. The business has a fifty day moving average price of $77.89 and a 200-day moving average price of $69.57.

Citigroup (NYSE:C) last posted its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) 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 business had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. During the same quarter in the prior year, the business earned $0.84 EPS. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. Equities analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s dividend payout ratio is 37.65%.

Citigroup declared that its Board of Directors has approved a share repurchase program on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to repurchase up to 13.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

C has been the topic of a number of research analyst reports. StockNews.com upgraded Citigroup from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. The Goldman Sachs Group raised their target price on shares of Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Oppenheimer cut their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Finally, Piper Sandler reiterated an “overweight” rating and set a $83.00 price objective (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Insiders Place Their Bets

In other Citigroup news, 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 completion of the sale, the insider now owns 109,780 shares of the company’s stock, valued at approximately $8,893,277.80. The trade was a 12.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction that occurred 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 in the company, valued at $18,586,498. This represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,590 shares of company stock valued at $8,523,149. Insiders own 0.08% of the company’s stock.

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.