Citigroup Inc. (NYSE:C) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC increased its position in shares of Citigroup Inc. (NYSE:C) by 14.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,388 shares of the company’s stock after purchasing an additional 13,278 shares during the period. Intech Investment Management LLC’s holdings in Citigroup were worth $7,629,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Geode Capital Management LLC raised its stake in Citigroup by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock worth $2,492,238,000 after acquiring an additional 791,758 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Citigroup by 18.5% during the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock worth $1,998,976,000 after purchasing an additional 4,680,713 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Citigroup by 3.6% in the 4th quarter. Fisher Asset Management LLC now owns 30,014,183 shares of the company’s stock valued at $2,112,698,000 after purchasing an additional 1,043,826 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Citigroup by 9.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock valued at $981,347,000 after purchasing an additional 1,404,120 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Citigroup by 2.3% during 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 last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on C. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $70.00 to $95.00 in a report on Monday, January 6th. The Goldman Sachs Group increased 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, March 11th. Piper Sandler reiterated an “overweight” rating and set a $83.00 target price (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Finally, Bank of America boosted 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. Three equities research 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, Citigroup currently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Price Performance

Shares of NYSE C opened at $70.24 on Wednesday. The company’s fifty day moving average is $77.51 and its two-hundred day moving average is $70.11. 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 market capitalization of $132.37 billion, a P/E ratio of 11.81, a PEG ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74.

Citigroup (NYSE:C) last issued its earnings results 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. 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 business posted $0.84 earnings per share. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. Analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were given 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 yield of 3.19%. Citigroup’s payout ratio is 37.65%.

Citigroup declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to buy up to 13.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Citigroup

In related news, COO Anand Selvakesari sold 30,000 shares of the company’s stock in a transaction that occurred on 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 owns 229,180 shares of the company’s stock, valued at approximately $18,586,498. This represents a 11.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 directly owns 217,331 shares of the company’s stock, valued at $18,084,112.51. The trade was 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 valued at $8,523,149. Insiders own 0.08% of the company’s stock.

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.