Point72 Asia Singapore Pte. Ltd. Buys 37,759 Shares of Citigroup Inc. (NYSE:C)

Point72 Asia Singapore Pte. Ltd. grew its stake in Citigroup Inc. (NYSE:C) by 257.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,444 shares of the company’s stock after purchasing an additional 37,759 shares during the quarter. Citigroup comprises about 1.0% of Point72 Asia Singapore Pte. Ltd.’s holdings, making the stock its 17th biggest holding. Point72 Asia Singapore Pte. Ltd.’s holdings in Citigroup were worth $3,692,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Point72 Europe London LLP bought a new position in Citigroup in the fourth quarter worth $4,449,000. Point72 Hong Kong Ltd purchased a new stake in shares of Citigroup in the 4th quarter worth about $280,000. Polar Capital Holdings Plc increased its stake in shares of Citigroup by 89.8% in the 4th quarter. Polar Capital Holdings Plc now owns 255,085 shares of the company’s stock worth $17,955,000 after acquiring an additional 120,701 shares in the last quarter. ProShare Advisors LLC lifted its position in Citigroup by 10.5% during the 4th quarter. ProShare Advisors LLC now owns 405,270 shares of the company’s stock valued at $28,527,000 after acquiring an additional 38,596 shares during the period. Finally, Quadcap Wealth Management LLC boosted its stake in Citigroup by 5.0% during the fourth quarter. Quadcap Wealth Management LLC now owns 14,637 shares of the company’s stock worth $1,030,000 after acquiring an additional 696 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total transaction of $301,504.42. Following the sale, the director now owns 13,048 shares in the company, valued at $890,656.48. This trade represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mark Mason sold 58,465 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. This represents a 21.20% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

Citigroup Price Performance

NYSE C opened at $75.22 on Thursday. The business’s fifty day moving average is $67.79 and its 200 day moving average is $71.72. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74. 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 company has a market capitalization of $141.58 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 0.64 and a beta of 1.30.

Citigroup (NYSE:C) last posted its quarterly earnings data 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. The firm had revenue of $21.60 billion for the quarter, compared to analysts’ expectations of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Sell-side analysts predict 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 buyback program on Wednesday, January 15th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 13.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.98%. The ex-dividend date is Monday, May 5th. Citigroup’s dividend payout ratio is currently 35.39%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on C shares. Morgan Stanley decreased their target price on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Oppenheimer upped their price target on Citigroup from $91.00 to $94.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. Royal Bank of Canada reduced their price objective on Citigroup from $85.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. Evercore ISI dropped their target price on Citigroup from $79.00 to $76.00 and set an “in-line” rating on the stock in a report on Tuesday, April 1st. Finally, Bank of America cut their target price on Citigroup from $90.00 to $89.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.04.

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.