175,000 Shares in Citigroup Inc. (NYSE:C) Acquired by Trivest Advisors Ltd

Trivest Advisors Ltd purchased a new stake in shares of Citigroup Inc. (NYSE:C - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 175,000 shares of the company's stock, valued at approximately $12,318,000.

A number of other large investors have also bought and sold shares of C. Franklin Resources Inc. boosted its holdings 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 worth $1,998,976,000 after acquiring an additional 4,680,713 shares during the period. Swedbank AB lifted its stake in Citigroup by 90.2% during the fourth 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 during the last quarter. Raymond James Financial Inc. bought a new stake in Citigroup during the fourth quarter worth about $198,231,000. Caisse DE Depot ET Placement DU Quebec lifted its stake in Citigroup by 70.0% during the third 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 during the last quarter. Finally, Nordea Investment Management AB lifted its stake in Citigroup by 32.2% during the fourth 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 during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on C shares. Piper Sandler reiterated an "overweight" rating and issued a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Evercore ISI increased their target price on Citigroup from $69.00 to $79.00 and gave the stock an "in-line" rating in a research report on Thursday, January 16th. Oppenheimer decreased their target price on Citigroup from $110.00 to $102.00 and set an "outperform" rating for the company in a research report on Friday, January 3rd. Truist Financial began coverage on Citigroup in a research note on Tuesday, January 7th. They issued a "buy" rating and a $85.00 price target on the stock. Finally, StockNews.com upgraded Citigroup from a "hold" rating to a "buy" rating in a research note on Saturday. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $83.53.

Remove Ads

Insider Buying and Selling at Citigroup

In related news, insider Sara Wechter sold 15,125 shares of Citigroup stock in a transaction dated 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 transaction, the insider now owns 109,780 shares in the company, valued at approximately $8,893,277.80. This trade represents a 12.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 217,331 shares of the company's stock, valued at approximately $18,084,112.51. This represents a 21.20 % decrease in their position. 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 over the last ninety days. 0.08% of the stock is currently owned by company insiders.

Citigroup Stock Performance

Shares of NYSE C traded up $0.11 during midday trading on Friday, hitting $71.93. 21,720,996 shares of the stock traded hands, compared to its average volume of 13,298,404. The firm has a 50-day moving average of $77.46 and a two-hundred day moving average of $70.32. The firm has a market capitalization of $135.56 billion, a P/E ratio of 12.09, a PEG ratio of 0.64 and a beta of 1.43. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74.

Citigroup (NYSE:C - Get Free Report) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping 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 analysts' expectations of $19.51 billion. During the same period last year, the firm earned $0.84 EPS. Citigroup's revenue for the quarter was up 12.3% compared to the same quarter last year. On average, equities analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were issued 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 3.11%. Citigroup's dividend payout ratio is presently 37.65%.

Citigroup declared that its Board of Directors has approved a share repurchase program on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to reacquire up to 13.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its stock is undervalued.

About Citigroup

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.