Oregon Public Employees Retirement Fund Cuts Stock Position in Citigroup Inc. $C

Oregon Public Employees Retirement Fund cut its holdings in shares of Citigroup Inc. (NYSE:C) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 204,884 shares of the company’s stock after selling 5,576 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Citigroup were worth $23,908,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in C. Brighton Jones LLC lifted its holdings in Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after purchasing an additional 12,499 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in Citigroup by 20.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 9,805 shares of the company’s stock worth $835,000 after purchasing an additional 1,669 shares during the period. United Bank purchased a new stake in Citigroup during the 2nd quarter valued at approximately $972,000. Osterweis Capital Management Inc. raised its position in shares of Citigroup by 3,016.7% during the second quarter. Osterweis Capital Management Inc. now owns 935 shares of the company’s stock valued at $80,000 after buying an additional 905 shares during the last quarter. Finally, HUB Investment Partners LLC raised its position in shares of Citigroup by 26.9% during the second quarter. HUB Investment Partners LLC now owns 15,287 shares of the company’s stock valued at $1,301,000 after buying an additional 3,238 shares during the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Cantu Ernesto Torres sold 43,173 shares of the firm’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $111.09, for a total value of $4,796,088.57. Following the completion of the sale, the insider directly owned 45,835 shares in the company, valued at $5,091,810.15. This trade represents a 48.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Cunningham Dugan sold 2,117 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $125.30, for a total transaction of $265,260.10. Following the completion of the sale, the director owned 12,194 shares of the company’s stock, valued at $1,527,908.20. This trade represents a 14.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 94,435 shares of company stock worth $11,030,074 over the last three months. 0.11% of the stock is owned by insiders.

Citigroup Price Performance

C stock opened at $126.32 on Wednesday. Citigroup Inc. has a 52 week low of $71.65 and a 52 week high of $135.29. The firm has a market capitalization of $215.45 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 0.56 and a beta of 1.14. The company has a fifty day simple moving average of $118.72 and a two-hundred day simple moving average of $113.60. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.59.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, topping the consensus estimate of $2.63 by $0.43. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The company had revenue of $24.63 billion during the quarter, compared to analyst estimates of $22.96 billion. During the same quarter last year, the business posted $1.96 earnings per share. The firm’s revenue was up 14.1% on a year-over-year basis. Analysts anticipate that Citigroup Inc. will post 10.65 earnings per share for the current fiscal year.

Citigroup announced that its Board of Directors has initiated a share buyback program on Thursday, May 7th that allows the company to buyback $30.00 billion in shares. This buyback authorization allows the company to repurchase up to 13.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.9%. The ex-dividend date is Monday, May 4th. Citigroup’s dividend payout ratio is presently 29.74%.

Wall Street Analysts Forecast Growth

C has been the subject of a number of research reports. Weiss Ratings restated a “buy (b)” rating on shares of Citigroup in a research report on Monday, April 20th. JPMorgan Chase & Co. lifted their price target on shares of Citigroup from $131.00 to $135.50 and gave the company an “overweight” rating in a report on Thursday, April 30th. Evercore set a $139.00 price target on shares of Citigroup in a research note on Wednesday, April 15th. The Goldman Sachs Group increased their price objective on shares of Citigroup from $137.00 to $151.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Finally, Barclays raised their price objective on Citigroup from $146.00 to $154.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.62.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup’s strong quarterly earnings beat and revenue upside continue to support confidence in the bank’s operating momentum.
• Positive Sentiment: The newly authorized $30 billion buyback program reinforces Citi’s capital return strategy and could help support the share price. What’s Fueling Citigroup’s Robust Capital Return Strategy?
• Neutral Sentiment: Citigroup also disclosed routine participation notifications, but these filings do not appear to be major stock catalysts.
• Negative Sentiment: Director John Cunningham Dugan’s sale of 2,117 shares may slightly weigh on sentiment, though the transaction size is relatively modest. SEC Director Sale Filing

Citigroup Company Profile

Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.

Citi’s principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.