Twin Capital Management Inc. Acquires 1,710 Shares of Citigroup Inc. (NYSE:C)

Twin Capital Management Inc. boosted its position in shares of Citigroup Inc. (NYSE:C) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,895 shares of the company’s stock after purchasing an additional 1,710 shares during the period. Twin Capital Management Inc.’s holdings in Citigroup were worth $4,568,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Benjamin Edwards Inc. boosted its stake in shares of Citigroup by 1,188.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 11,561 shares of the company’s stock worth $724,000 after buying an additional 10,664 shares during the last quarter. EP Wealth Advisors LLC boosted its holdings in shares of Citigroup by 109.9% in the 3rd quarter. EP Wealth Advisors LLC now owns 36,395 shares of the company’s stock valued at $2,278,000 after buying an additional 19,053 shares during the last quarter. iSAM Funds UK Ltd bought a new position in shares of Citigroup in the third quarter valued at $336,000. Legacy Investment Solutions LLC acquired a new position in shares of Citigroup during the 3rd quarter worth about $31,000. Finally, Hodges Capital Management Inc. acquired a new position in Citigroup during the third quarter worth approximately $452,000. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Down 8.0 %

C stock opened at $58.00 on Monday. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74. The stock’s 50 day simple moving average is $75.61 and its 200 day simple moving average is $71.11. 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 market cap of $109.17 billion, a P/E ratio of 9.75, a price-to-earnings-growth ratio of 0.64 and a beta of 1.29.

Citigroup (NYSE:C) last announced its earnings results 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 during 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 firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.84 earnings per share. On average, research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup declared that its Board of Directors has initiated a share buyback plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 3.86%. Citigroup’s dividend payout ratio is currently 37.65%.

Insider Buying and Selling

In other Citigroup news, 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 transaction of $1,225,276.25. Following the completion of the sale, 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Mark Mason sold 58,465 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were 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 owns 217,331 shares in the company, valued at $18,084,112.51. The trade was a 21.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,590 shares of company stock worth $8,523,149. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on C. Morgan Stanley decreased their price objective on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. The Goldman Sachs Group dropped their price target on Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th. StockNews.com lowered shares of Citigroup from a “buy” rating to a “hold” rating in a report on Sunday, March 30th. Bank of America lowered their price objective on shares of Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods boosted their price target on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Citigroup has a consensus rating of “Moderate Buy” and an average price target of $83.23.

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.