Global Retirement Partners LLC Purchases 18,907 Shares of Citigroup Inc. (NYSE:C)

Global Retirement Partners LLC boosted its position in Citigroup Inc. (NYSE:C) by 160.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,705 shares of the company’s stock after buying an additional 18,907 shares during the period. Global Retirement Partners LLC’s holdings in Citigroup were worth $2,161,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in C. Franklin Resources Inc. increased its holdings in Citigroup by 18.5% during the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock worth $1,998,976,000 after purchasing an additional 4,680,713 shares in the last quarter. Swedbank AB grew its holdings in shares of Citigroup by 90.2% in the fourth quarter. Swedbank AB now owns 8,326,745 shares of the company’s stock valued at $586,120,000 after acquiring an additional 3,947,912 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Citigroup by 70.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock valued at $283,692,000 after acquiring an additional 1,865,628 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Citigroup by 32.2% in the fourth quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock valued at $501,994,000 after acquiring an additional 1,731,527 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Citigroup by 103.6% in the fourth quarter. SG Americas Securities LLC now owns 48,500 shares of the company’s stock valued at $3,414,000 after acquiring an additional 1,410,950 shares in the last quarter. 71.72% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $83.21, for a total value of $4,864,872.65. Following the transaction, the chief financial officer now directly owns 217,331 shares in the company, valued at $18,084,112.51. This represents a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the chief operating officer now owns 229,180 shares of the company’s stock, valued at approximately $18,586,498. This trade represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 103,590 shares of company stock worth $8,523,149 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Citigroup Trading Down 3.1 %

NYSE:C opened at $81.32 on Friday. The company has a market cap of $153.79 billion, a P/E ratio of 13.67, a P/E/G ratio of 0.67 and a beta of 1.44. The stock’s fifty day moving average price is $76.63 and its two-hundred day moving average price is $68.32. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96.

Citigroup (NYSE:C) last posted its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.12. The firm had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.84 earnings per share. As a group, analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

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

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.56 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 2.75%. Citigroup’s dividend payout ratio is currently 37.65%.

Analysts Set New Price Targets

Several research firms have recently issued reports on C. Morgan Stanley upped their target price on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Oppenheimer reduced their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. The Goldman Sachs Group upped their target price on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods upped their target price on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. Finally, Truist Financial assumed coverage on Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price for the company. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Citigroup has an average rating of “Moderate Buy” and an average price target of $83.93.

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.