Fusion Capital LLC Raises Stock Holdings in Citigroup Inc. (NYSE:C)

Fusion Capital LLC boosted its stake in Citigroup Inc. (NYSE:C) by 9.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,770 shares of the company’s stock after purchasing an additional 1,317 shares during the quarter. Fusion Capital LLC’s holdings in Citigroup were worth $1,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. AMF Tjanstepension AB bought a new position in Citigroup during the third quarter valued at approximately $4,607,000. Swedbank AB grew its holdings in shares of Citigroup by 1.3% during the 3rd quarter. Swedbank AB now owns 4,378,833 shares of the company’s stock valued at $274,115,000 after purchasing an additional 54,782 shares during the last quarter. Diversify Advisory Services LLC raised its position in Citigroup by 27.7% in the 3rd quarter. Diversify Advisory Services LLC now owns 12,000 shares of the company’s stock worth $763,000 after purchasing an additional 2,600 shares during the period. Pathway Financial Advisers LLC lifted its stake in Citigroup by 6,170.6% in the third quarter. Pathway Financial Advisers LLC now owns 10,033 shares of the company’s stock worth $628,000 after purchasing an additional 9,873 shares during the last quarter. Finally, JFS Wealth Advisors LLC boosted its position in Citigroup by 75.8% during the third quarter. JFS Wealth Advisors LLC now owns 4,060 shares of the company’s stock valued at $254,000 after buying an additional 1,751 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Citigroup Trading Down 0.2 %

NYSE C opened at $78.91 on Friday. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The stock’s fifty day moving average price is $77.51 and its 200-day moving average price is $69.08. The stock has a market cap of $149.24 billion, a P/E ratio of 13.26, a P/E/G ratio of 0.64 and a beta of 1.44.

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

Citigroup Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 2.84%. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Citigroup declared that its board has initiated a share repurchase program on Wednesday, January 15th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 13.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on C shares. Wells Fargo & Company boosted their target price on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Truist Financial started coverage on Citigroup in a research note on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective for the company. Keefe, Bruyette & Woods lifted their target price on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, January 16th. Bank of America increased their price target on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Finally, StockNews.com upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Insider Buying and Selling at Citigroup

In related news, COO Anand Selvakesari sold 30,000 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the completion of the sale, the chief operating officer now owns 229,180 shares in the company, valued at approximately $18,586,498. This represents a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sara Wechter sold 15,125 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $81.01, for a total value of $1,225,276.25. Following the completion of the transaction, the insider now directly owns 109,780 shares in the company, valued at $8,893,277.80. The trade was 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 have sold 103,590 shares of company stock worth $8,523,149. Insiders own 0.08% of the company’s stock.

Citigroup 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.