American Century Companies Inc. Increases Position in Citigroup Inc. (NYSE:C)

American Century Companies Inc. has enhanced its holdings in Citigroup Inc. (NYSE:C) by 3.4% during the fourth quarter, according to reports from Holdings Channel. After acquiring an additional 11,674 shares during this period, the firm now owns a total of 352,948 shares of Citigroup’s stock. At the end of the latest quarter, the value of American Century Companies’ holdings in Citigroup amounted to approximately $24,844,000.

In addition to American Century, several other institutional investors have made changes to their positions in Citigroup. Brookstone Capital Management increased its stake by a significant 340.6% in the fourth quarter, now owning 36,034 shares valued at $2,536,000 after purchasing an extra 27,856 shares. Similarly, Inspire Trust Co. N.A. raised its holdings by 34.8% during the third quarter, acquiring 20,000 additional shares, bringing its total to 77,506 shares worth $4,852,000.

FNY Investment Advisers LLC also expanded its position in Citigroup, increasing its stake by 168.7% during the fourth quarter to own 19,560 shares valued at $1,376,000 after buying additional shares. HighTower Advisors LLC boosted its holdings by 2.4% in the third quarter and now possesses 354,294 shares worth $22,236,000 after acquiring 8,301 shares.

Lastly, Candriam S.C.A. has raised its stake by 12.7% in the fourth quarter, now owning 200,860 shares valued at $14,139,000 after a purchase of 22,657 shares. Institutional investors and hedge funds collectively hold 71.72% of Citigroup's stock.

Citigroup Trading Information

The trading environment for Citigroup has seen the stock decrease by 2.2% recently. As of Friday, the stock opened at $70.28. Its fifty-day moving average is $77.06, while the two-hundred day moving average stands at $70.72. Over the past year, Citigroup has experienced a low of $53.51 and a high of $84.74. The company has a market capitalization of $132.28 billion, a PE ratio of 11.81, a P/E/G ratio of 0.64, and a beta of 1.43.

Citigroup recently announced results for its quarterly earnings on January 15th. The financial institution reported earnings per share (EPS) of $1.34, exceeding the consensus expectation of $1.22 by $0.12. Further, Citigroup showed a return on equity of 6.62% and had a net margin of 7.43%. The reported revenue for the quarter was $19.58 billion, outperforming analysts’ expectations of $19.51 billion and representing a 12.3% year-over-year revenue increase. Analysts project that Citigroup Inc. will deliver EPS of 7.53 for the current year.

On the same day, the board of Citigroup approved a substantial share repurchase program authorizing the company to buy back up to $20.00 billion in outstanding shares. This plan allows the company to repurchase approximately 13.5% of its shares through open market transactions, signaling management's belief that the shares are undervalued.

Dividend Announcement from Citigroup

In news regarding shareholder returns, Citigroup declared a quarterly dividend, which was disbursed on February 28th to eligible investors recorded as of February 3rd. Shareholders received a dividend of $0.56 per share, translating to an annualized dividend of $2.24 and a yield of 3.19%. The ex-dividend date was February 3rd, and currently, Citigroup’s dividend payout ratio is 37.65%.

Insider Transactions at Citigroup

Recent insider activities have also taken place at Citigroup. Chief Operating Officer Anand Selvakesari unloaded 30,000 shares on February 13th at an average price of $81.10, totaling approximately $2.43 million. Following this transaction, Selvakesari retained ownership of 229,180 shares valued near $18.59 million, marking an 11.57% reduction in his stock holdings. In another transaction, insider Sara Wechter sold 15,125 shares also on February 13th at an average price of $81.01 for a total of about $1.23 million, reducing her stakes by 12.11%. Insiders have collectively sold 103,590 shares for an estimated total of $8.52 million over the past three months, with insiders currently holding 0.08% of the company's stock.

Analyst Opinions on Citigroup

Several analysts have provided insights on Citigroup's stock. Oppenheimer lowered its price target for Citigroup from $110.00 to $102.00 while maintaining an “outperform” rating. StockNews.com has downgraded its rating from “buy” to “hold.” Truist Financial initiated coverage of Citigroup with a “buy” rating, giving a price target of $85.00. Meanwhile, Piper Sandler reiterated an “overweight” rating with an adjusted price target of $83.00. Additionally, Keefe, Bruyette & Woods raised their target price for Citigroup from $85.00 to $92.00, also maintaining an “outperform” rating. Currently, market analysts have a consensus rating of “Moderate Buy” for the stock, with an average target price of $84.50.

Profile of Citigroup

Citigroup Company Overview

Citigroup Inc. is a diversified financial services holding company that offers various financial products and services to individuals, businesses, governments, and institutions globally. The company operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth Management. The Services segment includes Treasury and Trade Solutions, which provides cash management and working capital solutions to multinationals, and Securities Services that offer local market expertise and various support solutions.

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