Citigroup (NYSE:C) Trading Down 0.3% After Analyst Downgrade

Citigroup Inc. (NYSE:C)’s share price was down 0.3% on Monday after Truist Financial lowered their price target on the stock from $85.00 to $84.00. Truist Financial currently has a buy rating on the stock. Citigroup traded as low as $55.51 and last traded at $57.95. Approximately 12,876,579 shares traded hands during mid-day trading, a decline of 8% from the average daily volume of 14,044,357 shares. The stock had previously closed at $58.13.

C has been the subject of a number of other reports. Bank of America decreased their price objective on Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Evercore ISI decreased their price target 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 shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Morgan Stanley reduced their target price on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.23.

Insiders Place Their Bets

In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction dated Thursday, February 13th. The shares were 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 owns 229,180 shares in the company, valued at $18,586,498. The trade was a 11.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sara Wechter sold 15,125 shares of the stock in a transaction that occurred on 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 transaction, the insider now 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. Insiders sold 103,590 shares of company stock worth $8,523,149 over the last three months. Insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On Citigroup

Several institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its position in Citigroup by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company’s stock worth $2,853,484,000 after purchasing an additional 667,357 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Citigroup by 2.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company’s stock worth $2,714,359,000 after acquiring an additional 815,003 shares during the period. FMR LLC lifted its holdings in shares of Citigroup by 29.7% during the 4th quarter. FMR LLC now owns 34,362,176 shares of the company’s stock worth $2,418,754,000 after acquiring an additional 7,863,718 shares during the period. Franklin Resources Inc. boosted its position in shares of Citigroup by 9.3% during the 4th quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company’s stock worth $2,311,048,000 after acquiring an additional 2,804,850 shares in the last quarter. Finally, Capital World Investors increased its stake in Citigroup by 455.2% in the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company’s stock valued at $2,206,908,000 after acquiring an additional 25,705,141 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Trading Down 0.2 %

The firm’s 50-day simple moving average is $75.61 and its 200 day simple moving average is $71.11. 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 firm has a market capitalization of $109.14 billion, a price-to-earnings ratio of 9.75, a P/E/G ratio of 0.64 and a beta of 1.29.

Citigroup (NYSE:C) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $19.51 billion. During the same period in the prior year, the company earned $0.84 EPS. Citigroup’s revenue for the quarter was up 12.3% on a year-over-year basis. Equities analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Citigroup announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 13.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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.