Daiwa Securities Group Inc. Raises Holdings in Citigroup Inc. (NYSE:C)

Daiwa Securities Group Inc. lifted its holdings in shares of Citigroup Inc. (NYSE:C) by 21.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 285,471 shares of the company’s stock after acquiring an additional 50,363 shares during the period. Daiwa Securities Group Inc.’s holdings in Citigroup were worth $20,095,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Core Alternative Capital lifted its holdings in shares of 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. Legacy Investment Solutions LLC acquired a new stake in shares of Citigroup during the third quarter worth about $31,000. Creative Capital Management Investments LLC acquired a new stake in shares of Citigroup during the fourth quarter worth about $35,000. Webster Bank N. A. lifted its holdings in shares of Citigroup by 150.0% during the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after purchasing an additional 300 shares during the period. Finally, Sierra Ocean LLC acquired a new stake in shares of Citigroup during the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Insider Transactions at Citigroup

In related news, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 217,331 shares in the company, valued at $18,084,112.51. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Anand Selvakesari sold 30,000 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $18,586,498. This represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Bank of America lifted their target price on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Piper Sandler reissued an “overweight” rating and issued a $83.00 price target (up from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Evercore ISI upped their target price on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research note on Thursday, January 16th. Morgan Stanley upped their target price on Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, StockNews.com raised Citigroup from a “hold” rating to a “buy” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Stock Down 4.6 %

Shares of C opened at $67.22 on Tuesday. 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. The stock has a market capitalization of $126.67 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 0.64 and a beta of 1.43. The stock has a 50 day moving average price of $77.84 and a 200 day moving average price of $69.83.

Citigroup (NYSE:C) last issued its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.12. The company had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.84 EPS. Equities research analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

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

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s dividend payout ratio is presently 37.65%.

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.