Mcdonald Partners LLC grew its position in Citigroup Inc. (NYSE:C - Free Report) by 17.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,009 shares of the company's stock after buying an additional 3,640 shares during the quarter. Mcdonald Partners LLC's holdings in Citigroup were worth $1,760,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in C. Franklin Resources Inc. increased its position in shares of Citigroup by 18.5% in the third 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 in the last quarter. Swedbank AB increased its position in Citigroup by 90.2% during the 4th quarter. Swedbank AB now owns 8,326,745 shares of the company's stock worth $586,120,000 after purchasing an additional 3,947,912 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in 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 purchasing an additional 1,865,628 shares in the last quarter. Nordea Investment Management AB increased its position in Citigroup by 32.2% during the 4th quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company's stock worth $501,994,000 after purchasing an additional 1,731,527 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Citigroup by 103.6% in the 4th quarter. SG Americas Securities LLC now owns 48,500 shares of the company's stock valued at $3,414,000 after buying an additional 1,410,950 shares during the period. Hedge funds and other institutional investors own 71.72% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have commented on the company. Morgan Stanley lifted their price target on Citigroup from $104.00 to $109.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Truist Financial assumed coverage on Citigroup in a report on Tuesday, January 7th. They issued a "buy" rating and a $85.00 price target for the company. The Goldman Sachs Group lifted their price target on Citigroup from $77.00 to $86.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Piper Sandler restated 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, Wells Fargo & Company lifted their price objective on Citigroup from $85.00 to $95.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $83.93.
Check Out Our Latest Stock Report on C
Citigroup Stock Down 2.1 %
Shares of C traded down $1.70 during trading on Friday, reaching $79.65. The company's stock had a trading volume of 14,902,958 shares, compared to its average volume of 15,626,512. The company has a fifty day moving average of $76.80 and a two-hundred day moving average of $68.48. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. The company has a market cap of $150.63 billion, a price-to-earnings ratio of 13.39, a P/E/G ratio of 0.66 and a beta of 1.44. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50.
Citigroup (NYSE:C - Get Free Report) last announced its 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 company had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. During the same period in the prior year, the company posted $0.84 EPS. Citigroup's quarterly revenue was up 12.3% on a year-over-year basis. On average, sell-side analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.
Citigroup Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Monday, February 3rd. Citigroup's payout ratio is 37.65%.
Citigroup declared that its Board of Directors has approved a share buyback program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 13.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.
Insider Buying and Selling at Citigroup
In other news, insider Sara Wechter sold 15,125 shares of the business'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 completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Mason sold 58,465 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 217,331 shares of the company's stock, 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 valued at $8,523,149 in the last three months. Corporate insiders own 0.08% of the company's stock.
About Citigroup
(
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.
Further Reading
Before you consider Citigroup, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Citigroup wasn't on the list.
While Citigroup currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering when you'll finally be able to invest in SpaceX, Starlink, or X.AI? Enter your email address to learn when Elon Musk will let these companies finally IPO.
Get This Free Report
