Private Advisor Group LLC Increases Stock Position in Citigroup Inc. (NYSE:C)

Private Advisor Group LLC boosted its position in Citigroup Inc. (NYSE:C) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 159,448 shares of the company’s stock after acquiring an additional 1,526 shares during the period. Private Advisor Group LLC’s holdings in Citigroup were worth $11,224,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Legacy Solutions LLC bought a new stake in shares of Citigroup in the 4th quarter worth approximately $263,000. Werba Rubin Papier Wealth Management purchased a new stake in Citigroup in the fourth quarter worth $232,000. Global Retirement Partners LLC boosted its holdings in Citigroup by 160.3% in the fourth quarter. Global Retirement Partners LLC now owns 30,705 shares of the company’s stock valued at $2,161,000 after acquiring an additional 18,907 shares in the last quarter. Klingman & Associates LLC increased its position in Citigroup by 21.4% during the 4th quarter. Klingman & Associates LLC now owns 3,879 shares of the company’s stock valued at $273,000 after purchasing an additional 684 shares during the period. Finally, Mcdonald Partners LLC raised its holdings in Citigroup by 17.0% in the 4th quarter. Mcdonald Partners LLC now owns 25,009 shares of the company’s stock worth $1,760,000 after purchasing an additional 3,640 shares in the last quarter. 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 recently weighed in on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Truist Financial initiated coverage on Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price on the stock. Oppenheimer lowered their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Morgan Stanley lifted their price target on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Evercore ISI increased their price objective on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Citigroup Price Performance

C opened at $81.32 on Friday. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The stock has a 50-day moving average price of $76.63 and a 200-day moving average price of $68.32. The firm has a market cap of $153.79 billion, a PE ratio of 13.67, a P/E/G ratio of 0.67 and a beta of 1.44. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96.

Citigroup (NYSE:C) last issued 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 during the quarter, compared to analysts’ expectations of $19.51 billion. During the same period in the previous year, the company earned $0.84 earnings per share. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. Sell-side analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 2.75%. Citigroup’s dividend payout ratio is 37.65%.

Citigroup announced that its Board of Directors has approved a stock buyback program on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to reacquire up to 13.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling 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 transaction of $1,225,276.25. Following 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the completion of the sale, the chief operating officer now owns 229,180 shares of the company’s stock, valued at $18,586,498. This represents a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,590 shares of company stock worth $8,523,149. Insiders own 0.08% of the company’s stock.

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.