Evergreen Capital Management LLC Grows Position in Citigroup Inc. (NYSE:C)

Evergreen Capital Management LLC boosted its position in Citigroup Inc. (NYSE:C) by 772.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 125,985 shares of the company’s stock after purchasing an additional 111,550 shares during the period. Evergreen Capital Management LLC’s holdings in Citigroup were worth $8,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Norges Bank bought a new position in Citigroup in the fourth quarter worth approximately $1,935,599,000. FMR LLC increased its holdings in shares of Citigroup by 29.7% in the 4th quarter. FMR LLC now owns 34,362,176 shares of the company’s stock valued at $2,418,754,000 after acquiring an additional 7,863,718 shares during the period. Franklin Resources Inc. raised its position in shares of 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 acquiring an additional 4,680,713 shares in the last quarter. Swedbank AB lifted its stake in shares of Citigroup by 90.2% during the 4th quarter. Swedbank AB now owns 8,326,745 shares of the company’s stock worth $586,120,000 after purchasing an additional 3,947,912 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Citigroup during the fourth quarter valued at about $198,231,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Insiders Place Their Bets

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the 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 completion of the sale, the chief financial officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sara Wechter sold 15,125 shares of Citigroup stock in a transaction 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 completion of the transaction, the insider now owns 109,780 shares in the company, valued at approximately $8,893,277.80. This trade represents a 12.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 103,590 shares of company stock valued at $8,523,149 over the last quarter. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on C shares. StockNews.com lowered shares of Citigroup from a “buy” rating to a “hold” rating in a research note on Sunday, March 30th. Truist Financial decreased their price objective on Citigroup from $85.00 to $84.00 and set a “buy” rating for the company in a report on Friday, April 4th. Piper Sandler restated an “overweight” rating and set a $83.00 target price (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. JPMorgan Chase & Co. decreased their price target on Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Finally, Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and an average target price of $84.54.

Citigroup Stock Up 1.7 %

C stock opened at $64.30 on Wednesday. The stock has a market cap of $121.02 billion, a P/E ratio of 10.81, a PEG ratio of 0.64 and a beta of 1.29. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. The company’s 50 day moving average is $72.22 and its two-hundred day moving average is $70.97.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm had revenue of $21.60 billion during the quarter, compared to analysts’ expectations of $21.34 billion. Research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup announced that its board has approved a stock repurchase program on Wednesday, January 15th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 13.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be paid a dividend of $0.56 per share. The ex-dividend date is Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a yield of 3.48%. Citigroup’s dividend payout ratio is presently 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.