Raymond James Financial Inc. Purchases Shares of 2,816,176 Citigroup Inc. (NYSE:C)

Raymond James Financial Inc. acquired a new stake in Citigroup Inc. (NYSE:C - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,816,176 shares of the company's stock, valued at approximately $198,231,000. Raymond James Financial Inc. owned 0.15% of Citigroup at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Brookstone Capital Management grew its holdings in Citigroup by 340.6% in the fourth quarter. Brookstone Capital Management now owns 36,034 shares of the company's stock valued at $2,536,000 after purchasing an additional 27,856 shares during the period. Inspire Trust Co. N.A. boosted its stake in shares of Citigroup by 34.8% in the third quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company's stock worth $4,852,000 after acquiring an additional 20,000 shares during the last quarter. FNY Investment Advisers LLC boosted its stake in shares of Citigroup by 168.7% in the fourth quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company's stock worth $1,376,000 after acquiring an additional 12,280 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Citigroup by 2.4% in the third quarter. HighTower Advisors LLC now owns 354,294 shares of the company's stock worth $22,236,000 after acquiring an additional 8,301 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of Citigroup by 1.8% in the third quarter. KBC Group NV now owns 1,138,511 shares of the company's stock worth $71,270,000 after acquiring an additional 20,291 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on C shares. StockNews.com raised Citigroup from a "hold" rating to a "buy" rating in a research note on Wednesday, February 26th. Oppenheimer reduced their target price on Citigroup from $110.00 to $102.00 and set an "outperform" rating on the stock in a research report on Friday, January 3rd. Keefe, Bruyette & Woods lifted their target price on Citigroup from $85.00 to $92.00 and gave the company an "outperform" rating in a research report on Thursday, January 16th. The Goldman Sachs Group lifted their target price on Citigroup from $77.00 to $86.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Finally, Bank of America lifted their target price on Citigroup from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $83.93.

Citigroup Stock Performance

C traded down $0.03 on Friday, hitting $70.55. 18,209,688 shares of the company traded hands, compared to its average volume of 16,126,045. The company has a 50 day moving average of $77.90 and a 200-day moving average of $69.72. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $132.94 billion, a PE ratio of 11.86, a PEG ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.22 by $0.12. The firm had revenue of $19.58 billion during 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%. The firm's revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.84 EPS. Sell-side analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date was Monday, February 3rd. Citigroup's dividend payout ratio (DPR) is 37.65%.

Citigroup announced that its Board of Directors has approved a share buyback plan on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to buy up to 13.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Insider Transactions at Citigroup

In related news, insider Sara Wechter sold 15,125 shares of Citigroup stock in a transaction 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 of the company's stock, valued at approximately $8,893,277.80. The trade was a 12.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction 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 transaction, the chief financial officer now directly owns 217,331 shares of the company's stock, valued at approximately $18,084,112.51. This represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 103,590 shares of company stock valued at $8,523,149. Corporate insiders own 0.08% of the company's stock.

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.