TCW Group Inc. Has $23.88 Million Stake in Citigroup Inc. (NYSE:C)

TCW Group Inc. raised its holdings in Citigroup Inc. (NYSE:C) by 0.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 339,210 shares of the company’s stock after acquiring an additional 394 shares during the period. TCW Group Inc.’s holdings in Citigroup were worth $23,877,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in C. AMF Tjanstepension AB acquired a new position in shares of Citigroup during the third quarter worth about $4,607,000. Swedbank AB boosted its position in shares of Citigroup by 1.3% during the third quarter. Swedbank AB now owns 4,378,833 shares of the company’s stock worth $274,115,000 after buying an additional 54,782 shares during the period. Eastern Bank acquired a new position in shares of Citigroup during the third quarter worth about $87,000. CENTRAL TRUST Co boosted its position in shares of Citigroup by 920.4% during the third quarter. CENTRAL TRUST Co now owns 18,184 shares of the company’s stock worth $1,138,000 after buying an additional 16,402 shares during the period. Finally, Ballentine Partners LLC boosted its position in shares of Citigroup by 49.1% during the third quarter. Ballentine Partners LLC now owns 22,460 shares of the company’s stock worth $1,406,000 after buying an additional 7,392 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

C has been the subject of several recent research reports. Wells Fargo & Company upped their price objective on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Bank of America increased their price target on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Evercore ISI increased their price target on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Morgan Stanley increased 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, Piper Sandler reissued an “overweight” rating and set a $83.00 price target (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Insider Transactions at Citigroup

In other Citigroup news, insider Sara Wechter sold 15,125 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was 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 $8,893,277.80. This trade represents a 12.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer now owns 217,331 shares in the company, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,590 shares of company stock worth $8,523,149. Company insiders own 0.08% of the company’s stock.

Citigroup Price Performance

NYSE:C opened at $79.65 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The stock’s 50 day moving average price is $76.80 and its two-hundred day moving average price is $68.56. The firm has a market capitalization of $150.63 billion, a price-to-earnings ratio of 13.39, a P/E/G ratio of 0.64 and a beta of 1.44. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74.

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

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.81%. Citigroup’s dividend payout ratio (DPR) is currently 37.65%.

Citigroup declared that its board has approved a share buyback program on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

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.