Martingale Asset Management L P Purchases 13,789 Shares of Citigroup Inc. (NYSE:C)

Martingale Asset Management L P boosted its holdings in Citigroup Inc. (NYSE:C) by 273.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 18,831 shares of the company’s stock after buying an additional 13,789 shares during the period. Martingale Asset Management L P’s holdings in Citigroup were worth $1,326,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Core Alternative Capital boosted its position in shares of Citigroup by 83.4% during the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after acquiring an additional 171 shares during the last quarter. Webster Bank N. A. lifted its stake in Citigroup by 150.0% in the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after purchasing an additional 300 shares in the last quarter. Creative Capital Management Investments LLC bought a new position in shares of Citigroup during the 4th quarter valued at about $35,000. Sierra Ocean LLC purchased a new position in shares of Citigroup during the fourth quarter valued at about $37,000. Finally, Runnymede Capital Advisors Inc. bought a new stake in shares of Citigroup in the fourth quarter worth about $39,000. 71.72% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Citigroup news, insider Sara Wechter sold 15,125 shares of the 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 sale, the insider now directly owns 109,780 shares in the company, valued at approximately $8,893,277.80. This trade represents a 12.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Anand Selvakesari sold 30,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the transaction, the chief operating officer now owns 229,180 shares in the company, 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 sold a total of 103,590 shares of company stock worth $8,523,149 in the last 90 days. 0.08% of the stock is owned by corporate insiders.

Citigroup Stock Performance

C stock opened at $61.73 on Friday. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.74. The business has a 50-day moving average price of $72.91 and a 200 day moving average price of $70.94. The company has a market capitalization of $116.19 billion, a P/E ratio of 10.38, a PEG ratio of 0.64 and a beta of 1.29. 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 released its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 7.43% and a return on equity of 6.62%. The company’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period last year, the firm earned $0.84 earnings per share. As a group, equities research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup announced that its Board of Directors has approved a share buyback plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 13.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup’s payout ratio is currently 37.65%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $70.00 to $95.00 in a report on Monday, January 6th. StockNews.com cut shares of Citigroup from a “buy” rating to a “hold” rating in a research note on Sunday, March 30th. Truist Financial decreased their target price on shares of Citigroup from $85.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, April 4th. Keefe, Bruyette & Woods lifted their price target on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Finally, Evercore ISI reduced their price objective on Citigroup from $79.00 to $76.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 1st. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.