OFI Invest Asset Management Invests $69,000 in Citigroup Inc. (NYSE:C)

OFI Invest Asset Management bought a new position in shares of Citigroup Inc. (NYSE:C) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,008 shares of the company’s stock, valued at approximately $69,000.

A number of other institutional investors have also made changes to their positions in the company. Core Alternative Capital increased its stake in shares of Citigroup by 83.4% in the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after buying an additional 171 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of Citigroup in the third quarter worth $31,000. Webster Bank N. A. increased its stake in shares of Citigroup by 150.0% in the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after buying an additional 300 shares during the last quarter. Creative Capital Management Investments LLC bought a new stake in shares of Citigroup in the fourth quarter worth $35,000. Finally, Sierra Ocean LLC bought a new stake in shares of Citigroup in the fourth quarter worth $37,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, COO Anand Selvakesari sold 30,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $18,586,498. This trade represents a 11.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were 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 owns 217,331 shares of the company’s stock, 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. Insiders sold 103,590 shares of company stock valued at $8,523,149 over the last 90 days. 0.08% of the stock is currently owned by company insiders.

Citigroup Stock Performance

Shares of C opened at $67.22 on Tuesday. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The company has a market cap of $126.67 billion, a price-to-earnings ratio of 11.30, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a fifty day moving average of $77.84 and a 200-day moving average of $69.83.

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 the consensus estimate of $1.22 by $0.12. The business had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.84 earnings per share. As a group, equities analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup declared that its board has authorized a stock buyback plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to buy up to 13.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s payout ratio is currently 37.65%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on C shares. The Goldman Sachs Group lifted their price target on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. StockNews.com upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a research note on Tuesday. Wells Fargo & Company boosted their target price on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Bank of America boosted their target price on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods boosted 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. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Citigroup has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Citigroup Company 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.