Envestnet Asset Management Inc. Has $225.98 Million Holdings in Citigroup Inc. (NYSE:C)

Envestnet Asset Management Inc. boosted its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 2.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,210,450 shares of the company's stock after purchasing an additional 67,928 shares during the period. Envestnet Asset Management Inc. owned about 0.17% of Citigroup worth $225,984,000 at the end of the most recent quarter.

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

Citigroup Price Performance

C stock traded down $3.78 during trading on Thursday, reaching $60.37. 11,328,288 shares of the company were exchanged, compared to its average volume of 17,581,633. The company has a market capitalization of $113.62 billion, a price-to-earnings ratio of 10.15, a P/E/G 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. The company has a 50-day moving average of $73.60 and a two-hundred day moving average of $70.93. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74.

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Citigroup (NYSE:C - Get Free Report) last announced its quarterly 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. The company had revenue of $19.58 billion during the quarter, compared to analysts' expectations of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Citigroup's revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.84 EPS. As a group, equities analysts predict that Citigroup Inc. will post 7.53 earnings per share 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 buyback $20.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 13.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.

Citigroup Announces Dividend

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 paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Monday, May 5th. Citigroup's dividend payout ratio is currently 37.65%.

Insider Activity at Citigroup

In other news, CFO Mark Mason sold 58,465 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $83.21, for a total value of $4,864,872.65. Following the completion of the sale, the chief financial officer now owns 217,331 shares of the company's stock, 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 filing with the SEC, which is accessible through the SEC website. Also, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.10, for a total value of $2,433,000.00. Following the completion of the transaction, the chief operating officer now directly owns 229,180 shares in the company, valued at approximately $18,586,498. This represents a 11.57 % decrease in their ownership of the stock. 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 quarter. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

C has been the topic of several analyst reports. Morgan Stanley cut their price target on shares of Citigroup from $110.00 to $109.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Piper Sandler reaffirmed an "overweight" rating and set a $83.00 target price (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Barclays raised shares of Citigroup from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $70.00 to $95.00 in a report on Monday, January 6th. Truist Financial lowered their target price on Citigroup from $85.00 to $84.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. Finally, Keefe, Bruyette & Woods upped their price objective on Citigroup from $85.00 to $92.00 and gave the company an "outperform" rating in a report on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.