Rockefeller Capital Management L.P. Trims Stock Position in Citigroup Inc. (NYSE:C)

Rockefeller Capital Management L.P. trimmed its stake in Citigroup Inc. (NYSE:C) by 5.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 994,344 shares of the company’s stock after selling 55,021 shares during the period. Rockefeller Capital Management L.P. owned 0.05% of Citigroup worth $69,985,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Core Alternative Capital grew its stake in Citigroup by 83.4% in the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after purchasing an additional 171 shares during the period. Creative Capital Management Investments LLC bought a new position in shares of Citigroup in the 4th quarter worth about $35,000. Webster Bank N. A. lifted its position in Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after acquiring an additional 300 shares during the period. Sierra Ocean LLC bought a new stake in Citigroup during the fourth quarter worth about $37,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in Citigroup in the fourth quarter worth about $39,000. Institutional investors own 71.72% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on C shares. StockNews.com cut Citigroup from a “buy” rating to a “hold” rating in a research report on Sunday, March 30th. Truist Financial dropped their target price on Citigroup from $85.00 to $84.00 and set a “buy” rating on the stock in a report on Friday, April 4th. Evercore ISI reduced their price target on Citigroup from $79.00 to $76.00 and set an “in-line” rating for the company in a report on Tuesday, April 1st. Oppenheimer dropped their price target 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. Finally, Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $84.54.

Citigroup Trading Up 0.2 %

NYSE:C opened at $61.73 on Friday. The company has a market cap of $116.19 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 0.64 and a beta of 1.29. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The company has a 50 day simple moving average of $72.91 and a two-hundred day simple moving average of $70.94. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74.

Citigroup (NYSE:C) last issued its quarterly earnings data 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 return on equity of 6.62% and a net margin of 7.43%. The company had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same quarter in the previous year, the company posted $0.84 earnings per share. Citigroup’s revenue was up 12.3% compared to the same quarter last year. Research analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The firm 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. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date is Monday, May 5th. Citigroup’s payout ratio is 37.65%.

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

Insider Activity at Citigroup

In related news, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction that occurred on 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 directly owns 229,180 shares of the company’s stock, valued at approximately $18,586,498. This represents a 11.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sara Wechter sold 15,125 shares of Citigroup stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the transaction, the insider now directly owns 109,780 shares in the company, valued at $8,893,277.80. This represents a 12.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is owned by company insiders.

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.