Fisher Asset Management LLC Purchases 1,043,826 Shares of Citigroup Inc. (NYSE:C)

Fisher Asset Management LLC increased its position in shares of Citigroup Inc. (NYSE:C) by 3.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 30,014,183 shares of the company’s stock after buying an additional 1,043,826 shares during the period. Fisher Asset Management LLC’s holdings in Citigroup were worth $2,112,698,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Core Alternative Capital grew its position in Citigroup by 83.4% in the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after acquiring an additional 171 shares during the period. Legacy Investment Solutions LLC bought a new stake in Citigroup in the third quarter valued at $31,000. Webster Bank N. A. grew its position in Citigroup by 150.0% in the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after acquiring an additional 300 shares during the period. Creative Capital Management Investments LLC bought a new stake in Citigroup in the fourth quarter valued at $35,000. Finally, Sierra Ocean LLC bought a new stake in Citigroup in the fourth quarter valued at $37,000. 71.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Mark Mason sold 58,465 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 217,331 shares in the company, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were 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 directly owns 229,180 shares of the company’s stock, valued at $18,586,498. This trade represents a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 103,590 shares of company stock worth $8,523,149 over the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

Citigroup Trading Up 1.2 %

NYSE:C opened at $79.78 on Friday. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.74. The business’s 50-day moving average price is $77.72 and its two-hundred day moving average price is $69.23. 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 firm has a market capitalization of $150.89 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 0.64 and a beta of 1.44.

Citigroup (NYSE:C) last released its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. During the same quarter in the prior year, the firm posted $0.84 earnings per share. The company’s quarterly revenue was up 12.3% on a year-over-year basis. On average, equities analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup declared that its Board of Directors has approved a stock repurchase plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to purchase up to 13.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

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 $0.56 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 2.81%. Citigroup’s dividend payout ratio (DPR) is currently 37.65%.

Wall Street Analyst Weigh In

C has been the topic of a number of analyst reports. The Goldman Sachs Group boosted their price objective on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Wells Fargo & Company boosted their price objective on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Truist Financial initiated coverage on Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective on the stock. Evercore ISI boosted their price objective on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research note on Thursday, January 16th. Finally, Bank of America boosted their price objective on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $83.93.

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.