Tocqueville Asset Management L.P. Increases Stake in Citigroup Inc. (NYSE:C)

Tocqueville Asset Management L.P. grew its position in Citigroup Inc. (NYSE:C) by 194.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,740 shares of the company’s stock after acquiring an additional 11,051 shares during the period. Tocqueville Asset Management L.P.’s holdings in Citigroup were worth $1,178,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of C. Blake Schutter Theil Wealth Advisors LLC lifted its stake in shares of Citigroup by 1.6% in the fourth quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company’s stock worth $608,000 after buying an additional 135 shares in the last quarter. Hemington Wealth Management lifted its stake in Citigroup by 10.9% in the 4th quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock worth $97,000 after purchasing an additional 136 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position in shares of Citigroup by 3.4% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company’s stock valued at $289,000 after purchasing an additional 137 shares in the last quarter. Rakuten Securities Inc. grew its holdings in Citigroup by 2.4% in the 4th quarter. Rakuten Securities Inc. now owns 5,953 shares of the company’s stock valued at $419,000 after buying an additional 139 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of Citigroup by 1.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock valued at $592,000 after buying an additional 140 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Insider Buying and Selling

In other Citigroup news, insider Sara Wechter sold 15,125 shares of Citigroup 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 $8,893,277.80. The trade was a 12.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Anand Selvakesari sold 30,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief operating officer now directly owns 229,180 shares of the company’s stock, valued at $18,586,498. The trade was a 11.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 103,590 shares of company stock valued at $8,523,149. 0.08% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on C. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $70.00 to $95.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods raised their price objective on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. StockNews.com upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Tuesday, March 11th. Oppenheimer reduced their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Finally, Truist Financial assumed coverage on Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target for the company. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $83.53.

Citigroup Trading Up 1.7 %

Shares of Citigroup stock opened at $71.43 on Thursday. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74. The business’s fifty day moving average is $77.47 and its two-hundred day moving average is $70.12. 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 firm has a market cap of $134.61 billion, a PE ratio of 12.01, a P/E/G ratio of 0.64 and a beta of 1.43.

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

Citigroup announced that its Board of Directors has initiated a stock repurchase program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 13.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Citigroup Announces Dividend

The company also recently disclosed 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 3.14%. Citigroup’s payout ratio is 37.65%.

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.