Citigroup Inc. (NYSE:C) Shares Purchased by AIA Group Ltd

AIA Group Ltd raised its stake in Citigroup Inc. (NYSE:C) by 43.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,298 shares of the company’s stock after buying an additional 30,587 shares during the quarter. AIA Group Ltd’s holdings in Citigroup were worth $7,060,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. CreativeOne Wealth LLC raised its holdings in shares of Citigroup by 216.3% in the 3rd quarter. CreativeOne Wealth LLC now owns 11,986 shares of the company’s stock valued at $750,000 after buying an additional 8,197 shares during the period. Financial Counselors Inc. increased its stake in Citigroup by 11.3% during the third quarter. Financial Counselors Inc. now owns 3,668 shares of the company’s stock worth $230,000 after purchasing an additional 372 shares during the period. Martingale Asset Management L P purchased a new position in shares of Citigroup in the third quarter valued at approximately $316,000. True Wealth Design LLC acquired a new position in shares of Citigroup in the third quarter valued at approximately $67,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Citigroup during the 3rd quarter worth approximately $919,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Trading Down 2.2 %

NYSE:C opened at $70.28 on Monday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a 52-week low of $53.51 and a 52-week high of $84.74. The stock’s 50 day moving average price is $77.06 and its 200 day moving average price is $70.81. The company has a market capitalization of $132.28 billion, a PE ratio of 11.81, a P/E/G ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating 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 business had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. During the same period in the previous year, the company posted $0.84 EPS. The company’s quarterly revenue was up 12.3% on a year-over-year basis. On average, research analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup declared that its Board of Directors has initiated a share buyback plan on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 13.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date was Monday, February 3rd. Citigroup’s dividend payout ratio is currently 37.65%.

Insider Activity at Citigroup

In related news, insider Sara Wechter sold 15,125 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.01, for a total value of $1,225,276.25. Following the completion of the sale, the insider now owns 109,780 shares in the company, valued at $8,893,277.80. This trade represents a 12.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Anand Selvakesari sold 30,000 shares of the business’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 transaction, the chief operating officer now owns 229,180 shares in the company, valued at $18,586,498. The trade was a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,590 shares of company stock worth $8,523,149 in the last quarter. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

C has been the subject of several recent research reports. Evercore ISI raised their price target on shares of Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. The Goldman Sachs Group lowered their target price on Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th. Keefe, Bruyette & Woods increased their price target on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Finally, Bank of America upped their target price on shares of Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $84.50.

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.