NEOS Investment Management LLC increased its holdings in Citigroup Inc. (NYSE:C - Free Report) by 31.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,392 shares of the company's stock after buying an additional 28,524 shares during the period. NEOS Investment Management LLC's holdings in Citigroup were worth $8,334,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. UniSuper Management Pty Ltd lifted its position in shares of Citigroup by 17.0% in the fourth quarter. UniSuper Management Pty Ltd now owns 1,125,718 shares of the company's stock valued at $79,239,000 after acquiring an additional 163,442 shares in the last quarter. Sava Infond d.o.o. purchased a new position in Citigroup in the 4th quarter valued at about $246,000. WINTON GROUP Ltd boosted its stake in shares of Citigroup by 20.3% during the 4th quarter. WINTON GROUP Ltd now owns 8,266 shares of the company's stock worth $582,000 after purchasing an additional 1,395 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Citigroup by 9.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,022,553 shares of the company's stock worth $214,601,000 after purchasing an additional 257,292 shares during the last quarter. Finally, Korea Investment CORP raised its position in shares of Citigroup by 2.8% in the fourth quarter. Korea Investment CORP now owns 2,458,805 shares of the company's stock valued at $173,075,000 after buying an additional 66,971 shares during the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have commented on the stock. Oppenheimer lowered their target price on shares of Citigroup from $110.00 to $102.00 and set an "outperform" rating for the company in a research note on Friday, January 3rd. Morgan Stanley cut their price objective on shares of Citigroup from $110.00 to $109.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Evercore ISI upped their price target on shares of Citigroup from $69.00 to $79.00 and gave the stock an "in-line" rating in a research report on Thursday, January 16th. The Goldman Sachs Group cut their target price on Citigroup from $90.00 to $80.00 and set a "buy" rating on the stock in a research report on Wednesday, March 19th. Finally, Truist Financial began coverage on Citigroup in a research report on Tuesday, January 7th. They set a "buy" rating and a $85.00 price target for the company. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Citigroup currently has an average rating of "Moderate Buy" and an average target price of $84.50.
Get Our Latest Report on C
Insiders Place Their Bets
In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of the business's stock in a transaction on 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 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 at this link. Also, CFO Mark Mason sold 58,465 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $83.21, for a total transaction 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 sold a total of 103,590 shares of company stock valued at $8,523,149 in the last ninety days. Corporate insiders own 0.08% of the company's stock.
Citigroup Stock Down 2.2 %
Shares of C stock traded down $1.57 on Friday, hitting $70.28. The stock had a trading volume of 13,627,552 shares, compared to its average volume of 13,835,686. Citigroup Inc. has a 52-week low of $53.51 and a 52-week 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. The firm has a market capitalization of $132.28 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 0.64 and a beta of 1.43. The stock's 50 day moving average is $77.06 and its 200-day moving average is $70.72.
Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.12. The company had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Citigroup's revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.84 EPS. As a group, research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.
Citigroup Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 3.19%. Citigroup's dividend payout ratio (DPR) is 37.65%.
Citigroup announced that its board has authorized a stock repurchase program on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 13.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.
Citigroup Company Profile
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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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