Oppenheimer & Co. Inc. Boosts Stake in Citigroup Inc. (NYSE:C)

Oppenheimer & Co. Inc. lifted its holdings in Citigroup Inc. (NYSE:C) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 330,574 shares of the company’s stock after purchasing an additional 3,760 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Citigroup were worth $23,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of C. Core Alternative Capital grew 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 purchasing an additional 171 shares during the period. Legacy Investment Solutions LLC bought a new position in shares of Citigroup in the third quarter worth about $31,000. Creative Capital Management Investments LLC bought a new position in shares of Citigroup in the fourth quarter worth about $35,000. Webster Bank N. A. lifted its position in shares of Citigroup by 150.0% in the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after buying an additional 300 shares in the last quarter. Finally, Sierra Ocean LLC purchased a new stake in shares of Citigroup in the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on C shares. The Goldman Sachs Group upped their price objective on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Wells Fargo & Company increased 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. StockNews.com raised Citigroup from a “hold” rating to a “buy” rating in a research report on Wednesday. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 price target (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Finally, Oppenheimer decreased their price objective on 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 issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Citigroup Stock Up 1.1 %

C stock opened at $79.00 on Thursday. The stock has a market capitalization of $149.41 billion, a P/E ratio of 13.28, a PEG ratio of 0.64 and a beta of 1.44. 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 company has a 50 day moving average price of $77.30 and a two-hundred day moving average price of $69.01.

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

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s payout ratio is currently 37.65%.

Citigroup declared that its board has authorized a stock buyback plan on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 13.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity at Citigroup

In other Citigroup news, insider Sara Wechter sold 15,125 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 109,780 shares in the company, valued at approximately $8,893,277.80. This represents a 12.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Mason sold 58,465 shares of the company’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 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 represents 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 in the last quarter. Insiders own 0.08% of the company’s stock.

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.