Citigroup Inc. (NYSE:C) Shares Purchased by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. lifted its position in shares of Citigroup Inc. (NYSE:C) by 12.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,024,286 shares of the company’s stock after buying an additional 226,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.11% of Citigroup worth $142,489,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Advisory Resource Group lifted its stake in shares of Citigroup by 3.7% during the 3rd quarter. Advisory Resource Group now owns 72,947 shares of the company’s stock worth $4,566,000 after purchasing an additional 2,590 shares during the period. Te Ahumairangi Investment Management Ltd increased its stake in Citigroup by 6.7% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 202,691 shares of the company’s stock valued at $12,617,000 after purchasing an additional 12,810 shares during the last quarter. Anchor Investment Management LLC lifted its position in Citigroup by 24.4% during the third quarter. Anchor Investment Management LLC now owns 2,557 shares of the company’s stock worth $160,000 after buying an additional 501 shares during the period. World Investment Advisors LLC boosted its stake in Citigroup by 36.6% in the 3rd quarter. World Investment Advisors LLC now owns 21,527 shares of the company’s stock worth $1,348,000 after buying an additional 5,763 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB grew its holdings in Citigroup by 432.6% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 38,191 shares of the company’s stock valued at $2,391,000 after buying an additional 31,020 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Trading Up 3.0 %

NYSE C opened at $64.59 on Wednesday. The stock has a market cap of $121.57 billion, a P/E ratio of 10.86, a PEG ratio of 0.64 and a beta of 1.29. The company’s fifty day simple moving average is $70.40 and its 200-day simple moving average is $71.01. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.74.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. Equities research analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup declared that its board has approved a stock buyback plan on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to repurchase up to 13.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders 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 3.47%. The ex-dividend date is Monday, May 5th. Citigroup’s payout ratio is 35.39%.

Insider Activity

In related news, insider Sara Wechter sold 15,125 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark Mason sold 58,465 shares of Citigroup 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 transaction, the chief financial officer now directly owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. This represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on C. Piper Sandler reissued an “overweight” rating and issued a $77.00 target price (down from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. JPMorgan Chase & Co. lowered their price objective on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Royal Bank of Canada lowered their price target on Citigroup from $85.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. Finally, Truist Financial cut their price objective on Citigroup from $84.00 to $79.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.61.

About Citigroup

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.