Harvest Fund Management Co. Ltd lifted its position in Citigroup Inc. (NYSE:C - Free Report) by 385.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,662 shares of the company's stock after buying an additional 7,673 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Citigroup were worth $680,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Core Alternative Capital lifted its holdings in Citigroup by 83.4% during the 4th quarter. Core Alternative Capital now owns 376 shares of the company's stock valued at $26,000 after purchasing an additional 171 shares during the last quarter. Legacy Investment Solutions LLC acquired a new stake in Citigroup during the third quarter worth approximately $31,000. Creative Capital Management Investments LLC acquired a new stake in shares of Citigroup during the 4th quarter worth $35,000. Webster Bank N. A. increased its holdings 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 buying an additional 300 shares during the period. Finally, Sierra Ocean LLC acquired a new stake in shares of Citigroup in the 4th quarter valued at $37,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, COO Anand Selvakesari sold 30,000 shares of the business's stock in a transaction 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 owns 229,180 shares in the company, valued at $18,586,498. The trade was a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Mason sold 58,465 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $83.21, for a total value of $4,864,872.65. Following the sale, the chief financial officer now directly owns 217,331 shares in the company, valued at $18,084,112.51. This trade represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 103,590 shares of company stock worth $8,523,149 in the last quarter. Corporate insiders own 0.08% of the company's stock.
Citigroup Stock Up 0.5 %
C traded up $0.39 during midday trading on Tuesday, reaching $74.43. The company's stock had a trading volume of 10,917,979 shares, compared to its average volume of 13,304,832. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The stock's 50-day moving average is $77.48 and its 200-day moving average is $70.42. The firm has a market capitalization of $140.26 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 0.64 and a beta of 1.43. 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 (NYSE:C - Get Free Report) last posted its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share 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 analyst estimates of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm's revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the company earned $0.84 EPS. As a group, research analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.
Citigroup announced that its Board of Directors has initiated a stock buyback program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 13.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's management believes its stock is undervalued.
Citigroup Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup's payout ratio is 37.65%.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on C. Morgan Stanley dropped their price objective on shares of Citigroup from $110.00 to $109.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. The Goldman Sachs Group lowered their target price on Citigroup from $90.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday, March 19th. Evercore ISI increased their price target on Citigroup from $69.00 to $79.00 and gave the company an "in-line" rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods increased their price objective on shares of Citigroup from $85.00 to $92.00 and gave the company an "outperform" rating in a research note on Thursday, January 16th. Finally, Bank of America lifted their target price on Citigroup from $90.00 to $95.00 and gave the stock a "buy" rating in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $83.53.
View Our Latest Research Report on Citigroup
Citigroup Profile
(
Free Report)
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.
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