Modera Wealth Management LLC Raises Position in Citigroup Inc. (NYSE:C)

Modera Wealth Management LLC raised its holdings in shares of Citigroup Inc. (NYSE:C) by 8.0% during the 4th quarter, HoldingsChannel reports. The fund owned 7,633 shares of the company’s stock after acquiring an additional 567 shares during the quarter. Modera Wealth Management LLC’s holdings in Citigroup were worth $537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of C. Geode Capital Management LLC boosted its holdings in Citigroup by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock worth $2,492,238,000 after buying an additional 791,758 shares during the period. Franklin Resources Inc. boosted its holdings in Citigroup by 18.5% in the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock worth $1,998,976,000 after buying an additional 4,680,713 shares during the period. Fisher Asset Management LLC boosted its holdings in Citigroup by 3.6% in the 4th quarter. Fisher Asset Management LLC now owns 30,014,183 shares of the company’s stock worth $2,112,698,000 after buying an additional 1,043,826 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its holdings in Citigroup by 9.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock worth $981,347,000 after buying an additional 1,404,120 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Citigroup by 2.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,703,215 shares of the company’s stock worth $670,021,000 after buying an additional 240,628 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on C. The Goldman Sachs Group upped their target price on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Wells Fargo & Company increased their price objective on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Piper Sandler reissued an “overweight” rating and set a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a report on Thursday, January 16th. Oppenheimer dropped their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Finally, Morgan Stanley increased their price objective on shares of Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Insider Buying and Selling

In other news, insider Sara Wechter sold 15,125 shares of the firm’s stock in a transaction that occurred on 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 directly owns 109,780 shares of the company’s stock, valued at approximately $8,893,277.80. This trade represents a 12.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark Mason sold 58,465 shares of the firm’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 transaction, the chief financial officer now directly owns 217,331 shares in the company, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their ownership of the stock. 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 ninety days. 0.08% of the stock is owned by company insiders.

Citigroup Stock Performance

Citigroup stock opened at $72.25 on Wednesday. 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 Inc. has a 1-year low of $53.51 and a 1-year high of $84.74. The firm has a market capitalization of $136.16 billion, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 0.64 and a beta of 1.44. The company’s 50-day moving average is $77.89 and its 200 day moving average is $69.57.

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

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is currently 37.65%.

Citigroup declared that its Board of Directors 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 repurchase up to 13.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

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.