Franklin Resources Inc. Sells 5,667,433 Shares of Citigroup Inc (C)

Franklin Resources Inc. decreased its position in Citigroup Inc (NYSE:C) by 15.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,055,609 shares of the financial services provider’s stock after selling 5,667,433 shares during the period. Citigroup makes up 0.9% of Franklin Resources Inc.’s investment portfolio, making the stock its 11th largest position. Franklin Resources Inc.’s holdings in Citigroup were worth $1,786,178,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Welch Capital Partners LLC NY raised its stake in shares of Citigroup by 22.8% in the third quarter. Welch Capital Partners LLC NY now owns 335,733 shares of the financial services provider’s stock worth $15,857,000 after buying an additional 62,434 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Citigroup by 18.9% in the third quarter. HighTower Advisors LLC now owns 190,169 shares of the financial services provider’s stock worth $8,967,000 after buying an additional 30,164 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of Citigroup by 2.0% in the third quarter. Nationwide Fund Advisors now owns 1,841,421 shares of the financial services provider’s stock worth $86,970,000 after buying an additional 35,273 shares in the last quarter. Poplar Forest Capital LLC raised its stake in shares of Citigroup by 1.2% in the third quarter. Poplar Forest Capital LLC now owns 1,050,818 shares of the financial services provider’s stock worth $49,630,000 after buying an additional 12,734 shares in the last quarter. Finally, Harris Associates L P raised its stake in shares of Citigroup by 4.3% in the third quarter. Harris Associates L P now owns 29,561,849 shares of the financial services provider’s stock worth $1,396,206,000 after buying an additional 1,210,112 shares in the last quarter. 73.82% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Citigroup (NYSE:C)

Citigroup Inc (NYSE:C) opened at 60.37 on Monday. Citigroup Inc has a one year low of $38.31 and a one year high of $62.53. The firm’s 50-day moving average price is $59.42 and its 200 day moving average price is $54.77. The company has a market capitalization of $167.27 billion, a price-to-earnings ratio of 12.79 and a beta of 1.68.

Citigroup (NYSE:C) last released its earnings results on Wednesday, January 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.02. Citigroup had a net margin of 18.10% and a return on equity of 7.09%. The firm earned $17 billion during the quarter, compared to analyst estimates of $17.26 billion. During the same period last year, the business earned $1.06 earnings per share. The business’s revenue was down 7.8% on a year-over-year basis. On average, equities research analysts expect that Citigroup Inc will post $5.18 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, February 24th. Stockholders of record on Monday, February 6th were issued a dividend of $0.16 per share. The ex-dividend date was Thursday, February 2nd. This represents a $0.64 annualized dividend and a dividend yield of 1.06%. Citigroup’s payout ratio is 13.56%.

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C has been the subject of a number of recent research reports. Vetr lowered Citigroup from a “sell” rating to a “strong sell” rating and set a $48.79 price objective for the company. in a report on Monday, November 21st. Zacks Investment Research raised Citigroup from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a report on Monday, December 19th. Standpoint Research lowered Citigroup from a “buy” rating to a “hold” rating in a report on Tuesday, January 10th. Atlantic Securities raised Citigroup from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $60.80 to $70.00 in a report on Wednesday, December 21st. Finally, Morgan Stanley raised Citigroup from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 31st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $60.73.

In related news, President James A. Forese sold 55,436 shares of the business’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $59.60, for a total value of $3,303,985.60. Following the completion of the transaction, the president now directly owns 565,438 shares in the company, valued at approximately $33,700,104.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joseph Michael Murray sold 7,037 shares of the business’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $60.25, for a total transaction of $423,979.25. Following the completion of the transaction, the insider now owns 46,950 shares of the company’s stock, valued at $2,828,737.50. The disclosure for this sale can be found here. Insiders have sold 211,303 shares of company stock valued at $12,606,410 over the last quarter. Company insiders own 0.13% of the company’s stock.

Citigroup Company Profile

Citigroup Inc (Citi) is a financial services holding company. The Company’s businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.

5 Day Chart for NYSE:C

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