Kornitzer Capital Management Inc. KS Has $4.03 Million Position in Citigroup Inc. (NYSE:C)

Kornitzer Capital Management Inc. KS boosted its stake in Citigroup Inc. (NYSE:C - Free Report) by 6.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,307 shares of the company's stock after buying an additional 3,233 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Citigroup were worth $4,034,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in C. Geode Capital Management LLC increased its stake in shares of Citigroup by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company's stock worth $2,492,238,000 after purchasing an additional 791,758 shares during the last quarter. Franklin Resources Inc. grew its stake in Citigroup by 18.5% in the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company's stock valued at $1,998,976,000 after buying an additional 4,680,713 shares during the last quarter. Fisher Asset Management LLC grew its stake in Citigroup by 3.2% in the 3rd quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company's stock valued at $1,813,544,000 after buying an additional 911,694 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in Citigroup by 9.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company's stock valued at $981,347,000 after buying an additional 1,404,120 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Citigroup by 2.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,703,215 shares of the company's stock valued at $670,021,000 after buying an additional 240,628 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Insider Activity at Citigroup

In related news, COO Anand Selvakesari sold 30,000 shares of Citigroup 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 transaction, the chief operating officer now directly owns 229,180 shares of the company's stock, valued at $18,586,498. This trade represents a 11.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sara Wechter sold 15,125 shares of Citigroup 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 transaction, the insider now directly owns 109,780 shares of the company's stock, valued at $8,893,277.80. This 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 valued at $8,523,149 in the last ninety days. Insiders own 0.08% of the company's stock.

Analyst Ratings Changes

C has been the topic of a number of research analyst reports. Piper Sandler reiterated an "overweight" rating and issued a $83.00 target price (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. The Goldman Sachs Group raised their target price on shares of Citigroup from $77.00 to $86.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Wells Fargo & Company raised their target price on shares of Citigroup from $85.00 to $95.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Truist Financial began coverage on shares of Citigroup in a research note on Tuesday, January 7th. They issued a "buy" rating and a $85.00 target price on the stock. Finally, Morgan Stanley raised their price target on shares of Citigroup from $104.00 to $109.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.93.

Citigroup Price Performance

Shares of NYSE:C traded down $1.70 during midday trading on Friday, reaching $79.65. 14,902,958 shares of the company's stock were exchanged, compared to its average volume of 15,626,512. The company's 50 day simple moving average is $76.63 and its two-hundred day simple moving average is $68.32. The firm has a market capitalization of $150.63 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 0.66 and a beta of 1.44. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping analysts' consensus estimates 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% compared to the same quarter last year. During the same period last year, the firm earned $0.84 EPS. Equities 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 authorized a share buyback program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 13.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup's dividend payout ratio is currently 37.65%.

Citigroup Company 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.