O Shaughnessy Asset Management LLC Acquires 56,432 Shares of Citigroup Inc. (NYSE:C)

O Shaughnessy Asset Management LLC grew its holdings in shares of Citigroup Inc. (NYSE:C) by 16.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 405,692 shares of the company’s stock after purchasing an additional 56,432 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Citigroup were worth $28,557,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Core Alternative Capital lifted its stake in shares of Citigroup by 83.4% in the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after buying an additional 171 shares in the last quarter. Legacy Investment Solutions LLC purchased a new position in Citigroup in the 3rd quarter worth approximately $31,000. Webster Bank N. A. lifted its position in 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 acquiring an additional 300 shares in the last quarter. Creative Capital Management Investments LLC purchased a new stake in Citigroup during the 4th quarter valued at $35,000. Finally, Sierra Ocean LLC bought a new stake in shares of Citigroup in the 4th quarter worth $37,000. 71.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Bank of America boosted their target price on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. StockNews.com cut shares of Citigroup from a “buy” rating to a “hold” rating in a report on Sunday. Truist Financial initiated coverage on Citigroup in a research report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price on the stock. Oppenheimer reduced their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Finally, Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and a consensus price target of $84.50.

Insider Buying and Selling

In other 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 completion of the sale, the chief financial officer now owns 217,331 shares in the company, valued at approximately $18,084,112.51. This 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, insider Sara Wechter sold 15,125 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 109,780 shares in the company, valued at $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. Over the last quarter, insiders sold 103,590 shares of company stock worth $8,523,149. Corporate insiders own 0.08% of the company’s stock.

Citigroup Stock Performance

C opened at $70.28 on Friday. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two 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. The company has a fifty day moving average of $77.06 and a 200 day moving average of $70.72. The stock has a market capitalization of $132.28 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last posted its 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. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same period in the prior year, the company earned $0.84 EPS. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s payout ratio is 37.65%.

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

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.