TD Private Client Wealth LLC Has $2.74 Million Stock Position in Citigroup Inc. (NYSE:C)

TD Private Client Wealth LLC cut its holdings in Citigroup Inc. (NYSE:C) by 1.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 38,875 shares of the company’s stock after selling 537 shares during the quarter. TD Private Client Wealth LLC’s holdings in Citigroup were worth $2,736,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in C. Franklin Resources Inc. lifted its stake in Citigroup by 18.5% in the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after buying an additional 4,680,713 shares during the period. Swedbank AB lifted its stake in Citigroup by 90.2% in the fourth quarter. Swedbank AB now owns 8,326,745 shares of the company’s stock valued at $586,120,000 after buying an additional 3,947,912 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Citigroup during the fourth quarter valued at approximately $198,231,000. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Citigroup by 70.0% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock valued at $283,692,000 after acquiring an additional 1,865,628 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Citigroup by 32.2% during the fourth quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock valued at $501,994,000 after acquiring an additional 1,731,527 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on C shares. 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. Bank of America upped their price target on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. The Goldman Sachs Group decreased their price target on Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday. Morgan Stanley decreased their price target on Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Finally, Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $70.00 to $95.00 in a report on Monday, January 6th. 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 has an average rating of “Moderate Buy” and a consensus target price of $83.53.

Citigroup Stock Up 0.2 %

C stock opened at $71.93 on Friday. Citigroup Inc. has a 1-year low of $53.51 and a 1-year 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’s fifty day simple moving average is $77.46 and its two-hundred day simple moving average is $70.20. The stock has a market cap of $135.56 billion, a P/E ratio of 12.09, a P/E/G ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last issued its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $19.51 billion. During the same quarter in the prior year, the firm earned $0.84 EPS. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. Analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were given a dividend of $0.56 per share. The ex-dividend date was Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.11%. Citigroup’s dividend payout ratio is presently 37.65%.

Citigroup declared that its Board of Directors has authorized a share repurchase program on Wednesday, January 15th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 13.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, CFO Mark Mason sold 58,465 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. This represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction dated 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 sale, the chief operating officer now directly owns 229,180 shares in the company, valued at $18,586,498. This trade represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,590 shares of company stock valued at $8,523,149 in the last 90 days. Insiders own 0.08% of the company’s stock.

Citigroup 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.