CIBC Private Wealth Group LLC Grows Stock Holdings in Citigroup Inc. (NYSE:C)

CIBC Private Wealth Group LLC increased its stake in Citigroup Inc. (NYSE:C) by 74.4% during the 4th quarter, HoldingsChannel reports. The firm owned 49,019 shares of the company’s stock after buying an additional 20,918 shares during the period. CIBC Private Wealth Group LLC’s holdings in Citigroup were worth $3,591,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Core Alternative Capital increased its holdings in Citigroup by 83.4% during the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after buying an additional 171 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in shares of Citigroup in the 3rd quarter worth $31,000. Webster Bank N. A. increased its stake 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 in the last quarter. Creative Capital Management Investments LLC bought a new position in Citigroup in the 4th quarter worth $35,000. Finally, Sierra Ocean LLC purchased a new position in Citigroup during the fourth quarter valued at $37,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Citigroup

In related news, COO Anand Selvakesari sold 30,000 shares of the firm’s stock in a transaction dated 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 owns 229,180 shares of the company’s stock, valued at $18,586,498. This trade represents a 11.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark Mason sold 58,465 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the completion of the sale, the chief financial officer now directly owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

C has been the topic of several recent research reports. Bank of America decreased their price objective on Citigroup from $90.00 to $89.00 and set a “buy” rating on the stock in a research note on Wednesday. Truist Financial assumed coverage on shares of Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, January 16th. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $70.00 to $95.00 in a research note on Monday, January 6th. Finally, Evercore ISI dropped their target price on shares of Citigroup from $79.00 to $76.00 and set an “in-line” rating for the company in a report on Tuesday. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.86.

Citigroup Trading Up 1.8 %

C opened at $71.81 on Thursday. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. 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 stock has a 50-day moving average of $76.46 and a 200 day moving average of $71.01. The firm has a market cap of $135.16 billion, a P/E ratio of 12.07, a P/E/G ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) 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 firm had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. During the same quarter in the previous year, the business earned $0.84 EPS. The company’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup announced that its Board of Directors has initiated a share repurchase plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to buy up to 13.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Citigroup Dividend Announcement

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

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.