AGP Franklin LLC Takes Position in Citigroup Inc. (NYSE:C)

AGP Franklin LLC acquired a new stake in Citigroup Inc. (NYSE:C - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 33,629 shares of the company's stock, valued at approximately $2,367,000. Citigroup makes up approximately 1.4% of AGP Franklin LLC's investment portfolio, making the stock its 28th largest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Core Alternative Capital increased 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 during the last quarter. Webster Bank N. A. increased its position in shares of 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 during the last quarter. Creative Capital Management Investments LLC acquired a new stake in shares of Citigroup in the 4th quarter valued at about $35,000. Sierra Ocean LLC bought a new position in shares of Citigroup during the fourth quarter worth about $37,000. Finally, Runnymede Capital Advisors Inc. bought a new stake in shares of Citigroup in the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 71.72% of the company's stock.

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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sara Wechter sold 15,125 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 109,780 shares in the company, valued at $8,893,277.80. This trade represents a 12.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 103,590 shares of company stock worth $8,523,149 in the last 90 days. 0.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

C has been the topic of several analyst reports. Piper Sandler reaffirmed an "overweight" rating and issued a $77.00 target price (down from $83.00) on shares of Citigroup in a research report on Wednesday. Oppenheimer dropped their price target on shares of Citigroup from $110.00 to $102.00 and set an "outperform" rating on the stock in a research report on Friday, January 3rd. Truist Financial lowered their target price on Citigroup from $84.00 to $79.00 and set a "buy" rating on the stock in a report on Wednesday. JPMorgan Chase & Co. lowered their price objective on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Finally, Bank of America cut their target price 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. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $84.61.

Citigroup Stock Performance

NYSE C traded up $1.13 during midday trading on Friday, hitting $63.23. The company had a trading volume of 14,653,830 shares, compared to its average volume of 14,419,522. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The stock has a market cap of $119.01 billion, a price-to-earnings ratio of 10.63, a P/E/G ratio of 0.64 and a beta of 1.29. The firm has a fifty day simple moving average of $71.12 and a two-hundred day simple moving average of $70.92.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating 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 company had revenue of $21.60 billion during the quarter, compared to analysts' expectations of $21.34 billion. Equities analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup announced that its board has authorized a share buyback program on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to purchase up to 13.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders 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 3.54%. Citigroup's payout ratio is presently 37.65%.

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.