TD Waterhouse Canada Inc. Buys 122,302 Shares of Citigroup Inc. (NYSE:C)

TD Waterhouse Canada Inc. grew its stake in Citigroup Inc. (NYSE:C - Free Report) by 29.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 541,592 shares of the company's stock after buying an additional 122,302 shares during the period. TD Waterhouse Canada Inc.'s holdings in Citigroup were worth $38,133,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Core Alternative Capital grew its stake in Citigroup by 83.4% during the fourth quarter. Core Alternative Capital now owns 376 shares of the company's stock worth $26,000 after purchasing an additional 171 shares during the period. Webster Bank N. A. grew its position in shares of Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company's stock worth $35,000 after buying an additional 300 shares during the period. Creative Capital Management Investments LLC bought a new stake in shares of Citigroup in the 4th quarter valued at $35,000. Sierra Ocean LLC acquired a new position in shares of Citigroup during the 4th quarter valued at $37,000. Finally, Runnymede Capital Advisors Inc. bought a new position in Citigroup during the fourth quarter worth $39,000. 71.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada cut their price objective on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. The Goldman Sachs Group cut their price target on Citigroup from $90.00 to $80.00 and set a "buy" rating on the stock in a report on Wednesday, March 19th. StockNews.com downgraded Citigroup from a "buy" rating to a "hold" rating in a report on Sunday, March 30th. Truist Financial cut their target price on Citigroup from $84.00 to $79.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Finally, Barclays upgraded shares of Citigroup from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $84.61.

Insiders Place Their Bets

In other news, insider Sara Wechter sold 15,125 shares of the company's 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 transaction, the insider now owns 109,780 shares of the company's stock, valued at $8,893,277.80. This represents a 12.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.10, for a total value of $2,433,000.00. Following the transaction, the chief operating officer now owns 229,180 shares of the company's stock, valued at $18,586,498. The trade was a 11.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 103,590 shares of company stock valued at $8,523,149. Company insiders own 0.08% of the company's stock.

Citigroup Stock Performance

Shares of Citigroup stock traded up $1.84 during mid-day trading on Wednesday, hitting $66.39. 17,232,425 shares of the stock were exchanged, compared to its average volume of 14,421,068. The company has a market capitalization of $124.96 billion, a P/E ratio of 11.16, a P/E/G ratio of 0.64 and a beta of 1.29. 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 company has a 50-day simple moving average of $70.40 and a 200 day simple moving average of $71.01. 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 issued its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.84 by $0.12. The business had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Sell-side analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a yield of 3.37%. Citigroup's dividend payout ratio (DPR) is presently 35.39%.

Citigroup announced that its Board of Directors has approved a share buyback plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 13.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

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.