Citigroup Inc. (NYSE:C) Shares Bought by Covestor Ltd

Covestor Ltd lifted its stake in shares of Citigroup Inc. (NYSE:C) by 49.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,816 shares of the company’s stock after buying an additional 932 shares during the quarter. Covestor Ltd’s holdings in Citigroup were worth $198,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. TD Private Client Wealth LLC raised its position in Citigroup by 3.4% in the third quarter. TD Private Client Wealth LLC now owns 39,412 shares of the company’s stock worth $2,467,000 after acquiring an additional 1,307 shares in the last quarter. Advisory Resource Group grew its holdings in Citigroup by 3.7% in the 3rd quarter. Advisory Resource Group now owns 72,947 shares of the company’s stock valued at $4,566,000 after buying an additional 2,590 shares during the period. Te Ahumairangi Investment Management Ltd raised its stake in Citigroup by 6.7% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 202,691 shares of the company’s stock worth $12,617,000 after purchasing an additional 12,810 shares during the period. Anchor Investment Management LLC lifted its stake in shares of Citigroup by 24.4% in the 3rd quarter. Anchor Investment Management LLC now owns 2,557 shares of the company’s stock valued at $160,000 after purchasing an additional 501 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its stake in Citigroup by 14.8% during the third quarter. Sanctuary Advisors LLC now owns 155,126 shares of the company’s stock worth $9,711,000 after buying an additional 19,941 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the 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 sale, the chief financial officer now directly owns 217,331 shares in the company, valued at approximately $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 accessible through this hyperlink. Also, COO Anand Selvakesari sold 30,000 shares of the company’s stock in a transaction on 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 103,590 shares of company stock valued at $8,523,149 in the last 90 days. Insiders own 0.08% of the company’s stock.

Citigroup Price Performance

Shares of NYSE C opened at $61.52 on Friday. 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 Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74. The stock has a market capitalization of $115.80 billion, a PE ratio of 10.34, a P/E/G ratio of 0.64 and a beta of 1.29. The business has a fifty day moving average price of $73.24 and a two-hundred day moving average price of $70.93.

Citigroup (NYSE:C) last issued its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.12. The company had revenue of $19.58 billion during the quarter, compared to analysts’ expectations 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 firm posted $0.84 earnings per share. As a group, equities analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup announced that its Board of Directors has initiated a stock buyback program on Wednesday, January 15th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 13.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.64%. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Analyst Ratings Changes

C has been the topic of several analyst reports. Piper Sandler reiterated an “overweight” rating and set a $83.00 target price (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Keefe, Bruyette & Woods raised their price objective on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, January 16th. Evercore ISI dropped their target price on Citigroup from $79.00 to $76.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 1st. Truist Financial reduced their price target on Citigroup from $85.00 to $84.00 and set a “buy” rating for the company in a research report on Friday, April 4th. Finally, StockNews.com cut Citigroup from a “buy” rating to a “hold” rating in a report on Sunday, March 30th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $84.54.

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.