Waterfront Wealth Inc. Increases Stake in Citigroup Inc. (NYSE:C)

Waterfront Wealth Inc. increased its position in Citigroup Inc. (NYSE:C) by 1.0% in the 4th quarter, HoldingsChannel reports. The fund owned 31,762 shares of the company’s stock after purchasing an additional 300 shares during the period. Waterfront Wealth Inc.’s holdings in Citigroup were worth $2,236,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Hemington Wealth Management grew its holdings in Citigroup by 10.9% during the 4th quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock valued at $97,000 after buying an additional 136 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in Citigroup by 1.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock valued at $592,000 after buying an additional 140 shares in the last quarter. Avitas Wealth Management LLC grew its holdings in Citigroup by 0.6% during the 4th quarter. Avitas Wealth Management LLC now owns 22,907 shares of the company’s stock valued at $1,612,000 after buying an additional 143 shares in the last quarter. NTV Asset Management LLC grew its holdings in Citigroup by 2.5% during the 4th quarter. NTV Asset Management LLC now owns 6,092 shares of the company’s stock valued at $429,000 after buying an additional 148 shares in the last quarter. Finally, Robertson Stephens Wealth Management LLC grew its holdings in Citigroup by 0.4% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 39,008 shares of the company’s stock valued at $2,746,000 after buying an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on C shares. Oppenheimer dropped their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Bank of America lifted their price target on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group boosted their target price on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Morgan Stanley boosted their target price on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Insider Transactions at Citigroup

In other Citigroup news, insider Sara Wechter sold 15,125 shares of the company’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 transaction of $1,225,276.25. Following the sale, the insider now directly owns 109,780 shares in the company, valued at $8,893,277.80. This represents a 12.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Mark Mason sold 58,465 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 217,331 shares in the company, valued at approximately $18,084,112.51. The trade was 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 over the last three months. Corporate insiders own 0.08% of the company’s stock.

Citigroup Trading Down 3.1 %

Citigroup stock opened at $81.32 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The business’s fifty day simple moving average is $76.63 and its two-hundred day simple moving average is $68.32. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. The company has a market capitalization of $153.79 billion, a price-to-earnings ratio of 13.67, a price-to-earnings-growth ratio of 0.67 and a beta of 1.44.

Citigroup (NYSE:C) last released its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.22 by $0.12. The business 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%. The company’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 company posted $0.84 earnings per share. As a group, equities analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.75%. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Citigroup announced that its board has authorized a share buyback program 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 programs are often a sign that the company’s board of directors believes its shares are undervalued.

Citigroup Company 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.