Martingale Asset Management L P Acquires 13,789 Shares of Citigroup Inc. (NYSE:C)

Martingale Asset Management L P increased its position in Citigroup Inc. (NYSE:C - Free Report) by 273.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,831 shares of the company's stock after purchasing an additional 13,789 shares during the quarter. Martingale Asset Management L P's holdings in Citigroup were worth $1,326,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisory Resource Group grew its position in Citigroup by 3.7% in the third quarter. Advisory Resource Group now owns 72,947 shares of the company's stock valued at $4,566,000 after acquiring an additional 2,590 shares during the period. Te Ahumairangi Investment Management Ltd grew its holdings in shares of Citigroup by 6.7% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 202,691 shares of the company's stock worth $12,617,000 after purchasing an additional 12,810 shares during the last quarter. Anchor Investment Management LLC increased its position in shares of Citigroup by 24.4% during the 3rd quarter. Anchor Investment Management LLC now owns 2,557 shares of the company's stock worth $160,000 after purchasing an additional 501 shares in the last quarter. Sanctuary Advisors LLC boosted its position in Citigroup by 14.8% in the third quarter. Sanctuary Advisors LLC now owns 155,126 shares of the company's stock valued at $9,711,000 after buying an additional 19,941 shares in the last quarter. Finally, World Investment Advisors LLC grew its stake in Citigroup by 36.6% during the third quarter. World Investment Advisors LLC now owns 21,527 shares of the company's stock worth $1,348,000 after buying an additional 5,763 shares during the last quarter. 71.72% of the stock is owned by institutional investors.

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Insider Activity

In related news, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction that occurred on 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 sale, the chief financial officer now owns 217,331 shares of the company's stock, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sara Wechter sold 15,125 shares of the company'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 value of $1,225,276.25. Following the transaction, the insider now directly owns 109,780 shares of the company's stock, valued at approximately $8,893,277.80. This trade represents a 12.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,590 shares of company stock worth $8,523,149 over the last quarter. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on C shares. Barclays raised Citigroup from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $70.00 to $95.00 in a report on Monday, January 6th. Truist Financial cut their price target on Citigroup from $85.00 to $84.00 and set a "buy" rating for the company in a report on Friday, April 4th. Bank of America dropped their target price on shares of Citigroup from $90.00 to $89.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Piper Sandler reissued an "overweight" rating and issued a $83.00 price target (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Finally, Evercore ISI reduced their price objective on Citigroup from $79.00 to $76.00 and set an "in-line" rating on the stock in a report on Tuesday, April 1st. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $84.54.

Citigroup Trading Up 2.4 %

Shares of C stock traded up $1.50 on Monday, reaching $63.14. The company had a trading volume of 20,366,691 shares, compared to its average volume of 14,399,529. The company has a 50-day moving average of $72.91 and a 200-day moving average of $71.01. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. The stock has a market cap of $118.84 billion, a PE ratio of 10.61, a PEG ratio of 0.64 and a beta of 1.29. 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 announced its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 7.43% and a return on equity of 6.62%. The firm's revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 EPS. On average, equities analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup declared that its Board of Directors has authorized a stock buyback plan on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to buy up to 13.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be given a $0.56 dividend. The ex-dividend date is Monday, May 5th. This represents a $2.24 annualized dividend and a dividend yield of 3.55%. Citigroup's dividend 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.