E Fund Management Co. Ltd. purchased a new position in shares of Citigroup Inc. (NYSE:C - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,586 shares of the company's stock, valued at approximately $323,000.
A number of other institutional investors also recently modified their holdings of the company. Hemington Wealth Management increased its holdings in shares of Citigroup by 10.9% in the fourth quarter. Hemington Wealth Management now owns 1,387 shares of the company's stock valued at $97,000 after purchasing an additional 136 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in Citigroup by 1.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company's stock worth $592,000 after acquiring an additional 140 shares during the period. Avitas Wealth Management LLC grew its holdings in Citigroup by 0.6% during the 4th quarter. Avitas Wealth Management LLC now owns 22,907 shares of the company's stock worth $1,612,000 after acquiring an additional 143 shares during the period. NTV Asset Management LLC grew its holdings in Citigroup by 2.5% during the 4th quarter. NTV Asset Management LLC now owns 6,092 shares of the company's stock worth $429,000 after acquiring an additional 148 shares during the period. Finally, Robertson Stephens Wealth Management LLC boosted its position in shares of Citigroup by 0.4% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 39,008 shares of the company's stock worth $2,746,000 after purchasing an additional 150 shares in the last quarter. Institutional investors own 71.72% of the company's stock.
In related news, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction 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 transaction, the chief financial officer now directly owns 217,331 shares of the company's stock, valued at $18,084,112.51. This represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 103,590 shares of company stock worth $8,523,149. Company insiders own 0.08% of the company's stock.
A number of equities analysts have recently weighed in on the stock. Evercore ISI lifted their price target on shares of Citigroup from $69.00 to $79.00 and gave the stock an "in-line" rating in a research report on Thursday, January 16th. 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. Morgan Stanley upped their target price on shares of Citigroup from $104.00 to $109.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Bank of America increased their price target on shares of Citigroup from $90.00 to $95.00 and gave the company a "buy" rating in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Citigroup from $85.00 to $92.00 and gave the stock an "outperform" rating in a report on Thursday, January 16th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $83.93.
Read Our Latest Stock Analysis on Citigroup
Shares of Citigroup stock opened at $70.55 on Friday. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market capitalization of $132.94 billion, a P/E ratio of 11.86, a P/E/G ratio of 0.64 and a beta of 1.43. The company's 50 day moving average price is $77.90 and its two-hundred day moving average price is $69.72.
Citigroup (NYSE:C - Get Free Report) last issued its quarterly 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. 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 was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.84 earnings per share. On average, equities analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.
Citigroup declared that its Board of Directors has authorized a share repurchase program on Wednesday, January 15th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the company to buy up to 13.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.18%. Citigroup's dividend payout ratio (DPR) is presently 37.65%.
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.
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