Navellier & Associates Inc. Purchases 3,078 Shares of Citigroup Inc. (NYSE:C)

Navellier & Associates Inc. boosted its stake in shares of Citigroup Inc. (NYSE:C) by 25.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,076 shares of the company’s stock after purchasing an additional 3,078 shares during the quarter. Navellier & Associates Inc.’s holdings in Citigroup were worth $1,061,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Core Alternative Capital raised its stake in shares of Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after buying an additional 171 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in Citigroup during the 3rd quarter worth about $31,000. Webster Bank N. A. boosted its stake in shares of Citigroup by 150.0% in the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after purchasing an additional 300 shares during the last quarter. Creative Capital Management Investments LLC bought a new position in shares of Citigroup in the 4th quarter valued at about $35,000. Finally, GHP Investment Advisors Inc. boosted its stake in shares of Citigroup by 184.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after purchasing an additional 368 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Citigroup

In other news, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the completion of the sale, the chief financial officer now directly owns 217,331 shares of the company’s stock, valued at $18,084,112.51. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Sara Wechter sold 15,125 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $81.01, for a total value of $1,225,276.25. Following the sale, the insider now directly owns 109,780 shares of the company’s stock, valued at approximately $8,893,277.80. This represents a 12.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 103,590 shares of company stock valued at $8,523,149. 0.08% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

C has been the topic of several recent research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 target price (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Bank of America raised their target price on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Evercore ISI raised their target price on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Oppenheimer dropped their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $83.93.

Citigroup Price Performance

Citigroup stock opened at $79.65 on Friday. The stock has a market capitalization of $150.63 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 0.64 and a beta of 1.44. The stock’s 50 day moving average price is $76.80 and its two-hundred day moving average price is $68.56. Citigroup Inc. has a 52-week low of $53.51 and a 52-week high of $84.74. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96.

Citigroup (NYSE:C) last released its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. The business had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Citigroup’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 EPS. On average, equities analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to purchase up to 13.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date is Monday, February 3rd. Citigroup’s payout ratio is currently 37.65%.

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.