denkapparat Operations GmbH Buys New Stake in Citigroup Inc. (NYSE:C)

denkapparat Operations GmbH bought a new stake in Citigroup Inc. (NYSE:C) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 10,538 shares of the company’s stock, valued at approximately $742,000. Citigroup makes up about 1.1% of denkapparat Operations GmbH’s holdings, making the stock its 15th biggest holding.

Other hedge funds have also modified their holdings of the company. Core Alternative Capital raised 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 acquiring an additional 171 shares during the period. Legacy Investment Solutions LLC bought a new position in shares of Citigroup during the third quarter valued at approximately $31,000. Creative Capital Management Investments LLC acquired a new stake in shares of Citigroup during the 4th quarter worth approximately $35,000. Webster Bank N. A. lifted its holdings in shares of Citigroup by 150.0% in the 4th 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 last quarter. Finally, Sierra Ocean LLC acquired a new position in Citigroup during the 4th quarter valued at approximately $37,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the company. StockNews.com upgraded Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday, March 22nd. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Evercore ISI increased their target price on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. The Goldman Sachs Group dropped their price target on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, March 19th. Finally, Oppenheimer decreased their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and an average price target of $83.53.

Citigroup Price Performance

Shares of NYSE C opened at $71.90 on Friday. 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 fifty-two week low of $53.51 and a fifty-two week high of $84.74. The stock has a market cap of $135.32 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. The stock has a fifty day moving average of $77.26 and a 200-day moving average of $70.56.

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

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s payout ratio is 37.65%.

Citigroup declared that its Board of Directors has initiated a share repurchase plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to repurchase up to 13.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, CFO Mark Mason sold 58,465 shares of the business’s 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 sale, the chief financial officer now owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sara Wechter sold 15,125 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $81.01, for a total value of $1,225,276.25. Following the completion of the sale, the insider now owns 109,780 shares of the company’s stock, valued at $8,893,277.80. The trade was a 12.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is currently owned by corporate insiders.

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.