HUB Investment Partners LLC Raises Stock Holdings in Citigroup Inc. (NYSE:C)

HUB Investment Partners LLC raised its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 36.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,022 shares of the company's stock after purchasing an additional 4,013 shares during the period. HUB Investment Partners LLC's holdings in Citigroup were worth $1,057,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Franklin Resources Inc. boosted its stake in shares of Citigroup by 18.5% during the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company's stock valued at $1,998,976,000 after purchasing an additional 4,680,713 shares in the last quarter. Swedbank AB boosted its position in Citigroup by 90.2% during the 4th quarter. Swedbank AB now owns 8,326,745 shares of the company's stock valued at $586,120,000 after acquiring an additional 3,947,912 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Citigroup during the 4th quarter valued at approximately $198,231,000. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Citigroup by 70.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company's stock worth $283,692,000 after acquiring an additional 1,865,628 shares during the period. Finally, Nordea Investment Management AB raised its position in shares of Citigroup by 32.2% in the 4th quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company's stock worth $501,994,000 after acquiring an additional 1,731,527 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on C shares. Piper Sandler restated an "overweight" rating and set a $83.00 price target (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Keefe, Bruyette & Woods boosted their target price on shares of Citigroup from $85.00 to $92.00 and gave the company an "outperform" rating in a report on Thursday, January 16th. StockNews.com upgraded shares of Citigroup from a "hold" rating to a "buy" rating in a research note on Saturday. Morgan Stanley dropped their price objective on shares of Citigroup from $110.00 to $109.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Finally, Evercore ISI upped their price objective on shares of Citigroup from $69.00 to $79.00 and gave the stock an "in-line" rating in a report on Thursday, January 16th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.53.

Insider Activity

In other news, COO Anand Selvakesari sold 30,000 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the completion of the sale, the chief operating officer now owns 229,180 shares of the company's stock, valued at $18,586,498. This represents a 11.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Sara Wechter sold 15,125 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the completion of the transaction, the insider now directly owns 109,780 shares in the company, valued at approximately $8,893,277.80. The trade was a 12.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,590 shares of company stock valued at $8,523,149 over the last three months. Insiders own 0.08% of the company's stock.

Citigroup Stock Up 0.5 %

C stock traded up $0.39 during midday trading on Tuesday, hitting $74.43. The company's stock had a trading volume of 10,917,979 shares, compared to its average volume of 13,304,832. The firm's 50-day moving average is $77.48 and its 200-day moving average is $70.42. 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 Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. The company has a market cap of $140.26 billion, a PE ratio of 12.51, a P/E/G ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (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 for the quarter, compared to the consensus estimate of $19.51 billion. During the same period in the prior year, the company posted $0.84 earnings per share. The company's quarterly revenue was up 12.3% on a year-over-year basis. On average, equities research analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were paid a $0.56 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.01%. Citigroup's dividend payout ratio is presently 37.65%.

Citigroup declared that its Board of Directors has authorized a stock buyback program on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its stock is 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.